Better Call Sal | Peter Zeihan Talks Jones Act and American Economic Development | Waterways

[@JackHawkinswrites]

Like Zeihan, bought his book, but he is a generalist. Specialized knowledge is always appreciated. Thanks

[@1PorscheCaymanS]

Here is a suggestion...why not invite Peter to join you on your channel...or his...and discuss the issues? I love Peter's broad knowledge and I would like to see him focus a bit on shipping with you and I think it would be both entertaining and educational. In a de-globalizing world...what should the US do about commercial shipping? Sounds like a great topic to me.

[@wgowshipping]

I have done so.

[@bcarrico329]

​@@wgowshipping I believe you have to "pony up" to get Peter on as a guest. I unfortunately couldn't even get a reply from his team to find out his rates :/. If you can pull off getting him booked, I'd be glued to the screen for that episode. I'd also love for you to react to his theory that the U.S. is intentionally disengaging from global trade, and that this will end in deglobalization and ultimately be very bad news for everyone but the U.S. and the select friends they take along for the ride in the 21st century. He has a video on the seized oil tanker by 🇮🇷 from a few weeks ago that would make for a great reaction better call Sal reaction video.

[@homeofsunshinegirl]

That was a great reaction video. I love Peter's stuff to but I'm often having my own reaction video while watching. He over simplifies or generalizes some concepts. I think mostly for presentation and short videos purposes. For larger economic concepts he is great. You, Sal dig into the details that is a really relevant to the subject. Good video

[@wgowshipping]

Glad you enjoyed

[@tacitdionysus3220]

Couldn't agree more. How refreshing it is to see a rational discussion of... well, anything... on KZbin. An excellent reaction clip. I always enjoy listening to Peter Zeihan. I also don't agree with everything he says, but I find his huge value is in jolting me to dig deeper into a subject. He's often caused me to research subjects I otherwise wouldn't have looked at, and enabled me to get ahead of the game while everyone else is still trotting out old cliches.

[@wgowshipping]

@@tacitdionysus3220 I feel the same about Peter.

[@vfsurgpa]

I just started watching Peter Zephaniah, and I find his analysis fascinating. I am also interested to hear thoughtful analysis of his positions. Thank you for this video.

[@jimcarlson2252]

I watched Peter’s vid on revising the Jones Act and had my own conniption fit. At 66 I have worked in heat treatment then welding inspection at a large bridge fabricator in NJ in the 1980’s. Ever since sold office software nationally mainly to surveyors but also civil engineering, construction firms and mining firms (mostly coal mining). Since 2010’s also sold survey gear robots, GPS/GNSS and last 5 years also terrestrial scanners and drones for mapping. Why the bio buildup? As an American I am mad as hell to see how damn successful Japan, South Korea, Taiwan and China have become by state sponsoring nationally certain key industries, subsidizing their chip making, steel, concrete and maritime industries, while our politicians open our markets up by NAFTA, and regulate to bankrupt these same key industries in America to go solely EV green. They don’t even want hybrid energy just EV green! I’m a big fan of Peter Zeihan but deregulating our government involvement away from subsidizing the US Maritime industry, is the exact opposite what Japan, South Korea and China have done since the 1980’s. Their governments literally have made their maritime industries state sponsored entities 100% subsidized by their military nation states. Heck even the Chinese worldwide fishing fleet communicates like a wing of their Chinese navy worldwide. The crux of the problem for the the US Maritime isn’t unions or the expense to subsidize fleet fabrication, it’s getting and keeping our American youth involved and trained up to build and man/women up our vast US maritime fleet. That is what is holding up our waterways economy is a shortage of manpower. Doing a NAFTA to the Jones Act would permanently kill off our US Maritime industry. NAFTA since its inception in the 1990’s has permanently killed off 4.5 million US manufacturing jobs. Sorry Peter but killing off the Jones Act which he calls hindering US commerce, would further hollow out America and American know how sending our jobs once again to these nation states who are not free capitalist nations but state sponsored military led ethnic nepotistic nations, who are hell bent not to be conquered again after WW2. MY TWO CENTS!! P.S. I appreciate your in-depth very informative videos on the shipping industry. I’m a bit of a snark as I’m getting older but your videos are so fact filled and informative, I’m usually so overwhelmed by your content that instead of commenting I have to watch it 2 or 3 times just to understand all its nuances. I plan to donate and sorry for the conniption post.

[@JK-mh5lt]

Different types of regulation have different delitirious effects. Our regulation is actually the worst of all worlds. I worked for the S.K. shipyards... to the extent there is government involvement they are actually hurting them because the government is incompetent and knows nothing of shipbuilding. Look at how badly DSME has done and they are the most heavily influenced.

[@dananorth895]

This is the fundamental problem with ALL authority/burocracy. It is incapable of determining the diference between truth/ falsehood, right/wrong, just/unjust, fair/unfair etc. It just charges ahead anyway more inclined to influence, corruption, favoritism because they are the law and have the heavy guns.

[@douglaspierce8480]

We gave away our merchant marine and most of our navy after WW2 and let shipbuilding slide which allowed other countries the ability to pick up the slack. We then closed most of our naval shipyards, supposedly to let commercial shipbuilding to thrive, which hasn't happened. Great explanation of the Jones Act and correcting Peter's errors.

[@jeffwhite3679]

I follow Peter Zeihan, I think he has a good grasp of his field of Macro Economics. However the people that view the big picture often do not see the details involved. They see the forest but not the trees. This is why successful organizations have staff of subject matter experts like yourself to explain to the leader who is looking at the forest, what the various trees that make up the forest are and how they contribute to the overall picture. I spent 28 years in the US Army and part of that was as operations sergeant on an Infantry Battalion staff. The commander who was looking at the big picture needed the various staff sections to sometimes explain to him why the big plan needed to be modified to work. Unfortunately there are too many people who don't look into the details when making decisions. Thanks for a great analysis.

[@PaxAmericana76]

I was just thinking about this morning when he posted his short video, I wonder what you would say if you knew who Peter Zeihan was and his opinion on the Jones Act. I'm actually both shocked and happy to see you heard his video and there is a reply coming!! Thank you!

[@armadaos]

Very interested to hear more takes on Jones Act and what it can be in the future.

[@chrismiller5198]

You can get more detailed information at the Cato Institute website.

[@googacct]

I really like listening to Peter Zeihan, but I also like hearing well thought out rebuttals to what he says. Thanks for the analysis.

[@nefelibatacomingthrough2707]

Same here. Geopolitics (and the likes) is a new field for me and so far Peter Zeihan is the only one I know so it's not easy to find any rebuttals.

[@burtpowell1344]

Really great to hear a respectful, reasonable discussion. Well done, Sal!

[@mookie861]

Thank you! Sincerely, a Merchant Marine

[@alansnyder8448]

I'm a huge fan of Peter Z and feel I learn something each time I listen to one of his videos, in addition to having read all of his books. But I don't necessarily think he is always right, so listening to Sal one provides an extra level of understanding for shipping related topics. Please do more of this. One topic I'd like to talk about is how do we re-industrialize America, like for example making more ships.

[@AndyKTM603]

I commented on his video. This is how I feel: I am a union Marine Engineer working on a Jones act ships. I wish we were allowed to bring in foreign built ships instead of the wrecks we currently have to operate. Repealing the Jones act would put all our maritime commerce in the hands of foreign crews. Which do not have the safety and quality track record of US Mariners. My ship can carry 1.3 million barrels of crude oil. The wages of 24 US mariners vs foreign crew is a drop in the bucket for what my company is making. The Management in my company got a 15% raise last year. We on the ships received no raise in two years. There is more to this. Also the 5 US Maritime Academy’s turn out hundreds of technically competent, hard working graduates every year with relevance in many other industries that the US needs.

[@RikardKrvaric]

Can you speak about why Jones act is always blamed when Puerto Rico goes through some disaster and they say they can't get help, because of Jones act...

[@bslturtle]

@@RikardKrvaric It is a convenient scape goat.

[@AllNighterHeider]

I'm a macro economics nut, and consume a lot of content. Peter is a big name in that space. I see the 2 of you on a thumbnail and I'm compelled to click. I also shared this video with a bunch of buddies. Thanks Sal, you consistently earn my viewership!!

[@mrjumbly2338]

Who knew shipping was soo interesting, Thanx Sal Keep em coming

[@Christiane069]

This is a very interesting analysis. I do watch Peter all the time, and find his commentary very interesting especially on countries economics related to population constraints that do make a lot of sense. I have to say, that because I follow your channel. I have a much better understanding on commercial shipping then ever before (I follow you since almost your first podcast. Ya I did missed a few.)

[@howardjohnson2138]

More please. I really appreciated it.

[@williamlloyd3769]

If Peter wants to test his build inland ports hypothesis, he should study - The Tennessee-Tombigbee Waterway is a 234-mile (377 km) artificial U.S. waterway. The locks are 9 by 110 by 600 feet (2.7 m × 33.5 m × 182.9 m), the same dimension as those on the Mississippi above Lock and Dam 26 at Alton, Illinois. Under construction for 12 years by the U.S. Army Corps of Engineers, the Tennessee-Tombigbee Waterway was completed in December 1984 at a total cost of nearly $2 billion.

[@CMVBrielman]

I love listening to someone offering substantial criticism of Zeihan. I find his work interesting, but there’s very little actual pushback on what he says out there. And what there is, is 90% crypto-bros. Also, if you really want to milk the youtube algorithm, make Zeihan reaction vids like this regularly.

[@anonymousAJ]

Yeah Zeihan and WEF do the same thing - find one or two things in a given situation and give those factors universal and unstoppable weight

[@RealJohnnyDingo]

some people make a living by reposting Zeihan videos with a click-bait title and thumbnail, without any additional content!

[@jijiipetti1433]

Well, there is little pushback because the average Joe has never heard of him and establishment types either haven't or some of his thoughts go too against the grain, on both sides.

[@CMVBrielman]

@@RealJohnnyDingo Exactly why I think a reaction video with pushback would do well.

[@The_10th_Man]

Yeah not sure of the value of dunking on a guy who’s always wrong.

[@moors710]

When I was working for Boeing, we had forklifts that could lift 40' shipping containers for use at the various Boeing manufacturing and test sites. We could stack Containers 2 high and we used them to get On the test site were I ran test the forklift would move the 30m diameter antenna to different parts of the site. We also had a container mover that would go to the barge on the waterway and take the container off sideways.I believe the particular piece of equipment that did that was over 100 tones and we had to barge it around to different sites because it was not road legal.

[@adamkebede6015]

Longer but worthwhile. Keep it up.

[@hammer-fn7gm]

The Jefferson Hotel is where the company I worked for had our Christmas party for many years. Just a couple of blocks VCU, and not far from the river.

[@paulginsberg6942]

Excellent critique. I love listening to Peter but it's good to hear from a real student of shipping to put it in a proper context. Very good analysis.

[@ksbrook1430]

Nicely done. I am just learning about our nation's shipping, and it was good to hear the differing perspectives.

[@fineartz99]

Commendable clarifications/ realizations.

[@robertortiz-wilson1588]

Thank you for this! Explanations and expansions on this issue are greatly appreciated.

[@diligentdavey]

I appreciate your commentary, and making points of contrast vis-avix Peter Zeihan. Thanks!

[@jkinkamo]

So much I've watched and especially listened to these cool episodes on this channel.

[@greggb1416]

“Reaction Video”.., yep, big hit with me. Loved it. I have been amazed at what I didn’t know (not that I ever claimed to know it all) regarding the maritime industry., since I was recommended to you, by Juan Browne (youtube “blancolirio” channel) many months back., regarding the container ships on the west coast. Your history videos, daily/weekly video reports on top 3-5 issues., are excellent. Your style is what hooked me, “fish on”.., caught me. Thank you sir.

[@GiancarloPosch]

Excellent, nuanced, respectful reaction video. I follow Peter Zeihan but never heard about you. The algorithm provided your reaction. Thanks a lot for this, it is full of insightful points. Must have a look at your other videos.

[@wgowshipping]

Thank you. Very kind comments.

[@roberttagg67]

Good video Sal. Always need to show the other side of the coin on these complicated issues.

[@marty5627]

A good article. The Jones Act gets a lot of comments pro and con. I follow Peter and was aware of his comments, also aware that he has a tendency to make statements that are directionally correct but somewhat exaggerated for entertainment value. I appreciate that your comments are more nuanced.

[@andrewhoover4641]

First time I have seen you Sal. Great feedback and context. Will subscribe. Thanks for commentary.

[@jameskessler2592]

Thanks for covering this professor!

[@JK-mh5lt]

As an American who worked corporate strategy in shipbuilding for one of the 3 big shipbuilders in s. Korea in thier heyday, I have to agree with Peter. It breaks my heart how irrelevent and inward looking the u.s. is compared to other first world nations. As an econ scholar, the effects of the jones act are exactly what one would predict from such protectionist policies. If the jones act restrictions were good for our shipping then we should do the same restrictions for every industry and every state and every city. Cargo going between two towns in VA would have to drive a VA built, owned and registered truck with drivers who reside only in VA. It's nuts.

[@wgowshipping]

One of the largest groups right now pushing for the repeal is South Korean shipbuilders who see a potential for their sales. They figure that the US would block Chinese shipbuilders and Japan is in 3rd place in the shipbuilding race. I think your analogy is not exactly correct as right now, to move goods between two VA towns, the truck has to be owned, registered and driven by an American, it just does not have to be built in the US. But then again, the US dominated car manufacturing for most of the 20th century through the Big Three, and even now, hold a fair share of the world percentage.

[@JK-mh5lt]

@@wgowshipping you aren't quit following the analogy. If it advantages the US to restrict trade within the US to only US, owned, made, and operated then would it not follow that the state of Virginia would benefit from restricting trade to only Virginia owned made and operated entities? Would it not make sense for every town or city in the US to force every driver to live in that town, every truck to be made in that town, every shipping company to be owned in that town?! No, shipping rates would go through the roof. This is what economics predicts the jones would to to rates, and hot damn, it's exactly what happened.

[@who2u333]

I notice Peter about 6 mo ago and he seemed to have some good data. Then I noticed that I was seeing him everywhere (so he started 'having a moment') but I am now concerned he is getting out over his skis trying to keep up with his momentum.

[@captiannemo1587]

Ha

[@laurenglass4514]

My great uncle was in the merchant marines and then shifted to tankers for Humble. He was very interesting.

[@dispergosum]

I've enjoyed Peter's perspective for a while. He definitely is pretty hyperbolic, which gets his point across, but definitely shows some fallcies especially given his narrative methods. A friend introduced me to you and I really enjoy your specialization and I'm glad to see your precise perspective on his broader analysis.

[@clearsmashdrop5829]

I'm so glad you did this. I really like Peter as well but I was certain you understood the Jones Act in more detail since its in your background. One item at end in Peters favor. He has also mentioned that China and other countries benefited from the US Navy.

[@DolphLongedgreens]

This topic is completely out of my area of expertise and I find it fascinating. Thanks for the content.

[@mattmunn71]

Perhaps you can get Peter on for a discussion. He started my interest in shipping (and Chief Makoi - excellent channel also) which brought me to you.

[@k34561]

I'm from Iowa. Now live in Boston. I go back often. The transportation is good. Farming drives the state. That means any transportation discussion in the state starts with how the farmer is going to get his corn/pigs/etc to market. Besides grain on the Mississippi, there is an extensive train network and road network. The road network has been modified to haul large items like wind turbines, etc. This is one the leading wind states in the country.

[@FrostW1nd]

Love this, thank you, you are awesome!!!

[@htoddgriffin4787]

Greetings from distant Raleigh. Great video. Thanks for your analysis.

[@ritaloy8338]

I did enjoy your take on this topic. But even I could see some holes in his arguments. He didn't even bring up rail transportation.

[@josephsmith3908]

Our water ways are part of what make our country soo powerful

[@jeffjacob8062]

Thank you for the insightful information you provide. I enjoy listening to you and I learn a lot from your videos. Keep up the great stuff you are putting out.

[@Franklin-pc3xd]

Thanks Sal - excellent re-assessment - a very balanced and knowledgeable response. Most importantly it's an example of how a respected analyst like Peter Zeihan can get several fundamental facts and circumstances partly or wholly wrong or off-base to the point where policymakers and others in power could easily get it wrong as to whatever the official response to these issues may be. It's also an example of how we need to foster and appreciate this kind of back-and-forth debate/discussion in order to proceed intelligently. Thanks again!

[@tedmoss]

Double thumbs up for that.

[@RealJohnnyDingo]

Somebody like Paul Krugman is even more off base more of the time and gets a NY Times column. we may have inadvertently discovered the secret to success here. 🤣

[@Franklin-pc3xd]

@@RealJohnnyDingo Well, Peter is first and foremost a self-promoter...and an adept manipulator of data... and an exceptionally good weathervane... those are his secrets to success.

[@effexon]

@@Franklin-pc3xd so is it like bill gates, someone who long ago did something useful but then just surfs on that fame of success (and much of perceived success of showmanship) and gains fame and influence to detrimental degree... coz I can see bill gates being worst case where bubble of zeihan can be promoted to

[@Franklin-pc3xd]

@@effexon Gates is probably not a great example. Gates is more of a merchant/opportunist deal maker and edge taker. He's more the guy who underwrites, sponsors and produces the "show" while Peter is more the character/actor in the show - and the perceived prescient shot caller listened to, perhaps, by some wanna-be Gates and some public and private enterprises actors who might be persuaded to do things someone or some sponsor like Gates wants them to do. Sometimes, I suppose, that could make Peter's proclamations self-fulfilling prophesies. As far as self-promotion - guys like Peter can continuously build in the self-promotion game because, since they say so GD much every day of every year of every decade, they always have an inventory of things they said or wrote five years ago or one year ago or twenty, etc that come true. It's the same basic game the climate change people use... and that every snake oil salesman in history has used... and that I've used on every single resume I've ever written.

[@douglaskaminski4703]

Can you compare shipping on the Mississippi system, Rhine, and Danube by industry? I think Peter’s 90% loss is that the Mississippi is heavy on agriculture where the Rhine and Danube move energy and chemicals.

[@trplankowner3323]

Sal, please tell us if you hear of a move in Congress to change this act. I would want to write my Congresswoman.

[@robertlevine2152]

Sal, I agree the Jones Act needs to be updated. I would start with ownership. I think requirements for American ownership is wrong. BP and Shell come to mind. They can own and operate oil fields, refineries and chemical plants, but they can't own ships? I take exception to the claim there are no modern ships. Polar Tankers' Endeavour Class tankers are as modern as any ships. Twin-screw, twin-rudder, fully redundant propulsion double hulled, fully enclosed bridge and unmanned engine rooms . Yes, they're over 20 year old designs. But, over $1M was spent on model testing, alone, to optimize the ship's hull design to; otiminze hull efficiency, hydrodynamics, seakeeping and maneuverability. The Endeavour Class tankers meet IMO requirements for maneuverability with one engine room off-line, the propeller in a condition of maximum drag, and the rudder failed hard over I believe that the Jones Act fleet has been badly hurt by the cost of building and repairs. Gone are the Todds, Suns, Bethlehem Steels and the Avondales. I blame the US government and the US Navy for this. I blame the government for the lack of a cohesive maritime strategy for commercial shipping. I blame the US Navy for cost plus and time and material contracting, which engourages delay and overruns. Commercial construction requires fixed price contracts. Companies cannot invest if they don't know the cost. I once asked someone, I think at MHI in Japan, how they were able to develop their efficiency in shipbuilding? The answet was from American technical papers. He said they studied papers from the Society of Naval Architects and Marine Engineers, the Ship Structure Committee, and from US Navy sponsored research thst was publicly published. He said the difference between Japan and the US was they read the papers, studied the papers and, they followed the papers Korean shipyards based their shipyards on those in Japan. And, China based their shipyards on those in Korea. My career was based primarily on Jones Act tankers. Throughout my career there was a constant push to reduce manning. I heard the push for automation and the clamoring for Artificial Intelligence and unmanned vessels. I believe in automation. But, I believe in increasing manning. When you are in the middle of the ocean who is going to fight a fire? Or, repair a leaking seal or broken hose? Bob

[@viasha]

Zeihan so informative, great to have this reaction with its own views to further expand my limited understanding of all-aspects of global trade but Especially practical nuts and bolts realities. Please keep reacting🖖

[@Big_Tex]

Hey now funny how at the tail end you cite another author writing about how US Navy sea control has benefitted China and others - which is one of Zeihan’s #1 themes!

[@TheJpwzrd]

3:45 ‘so the Government stepped in to prevent competitive correction and protect consumers from low prices”

[@wgowshipping]

Ah, no. Because we required only American ships in domestic trade, they were able to switch to international trade.

[@squid0013]

Even the small vessels such as tug boats could be built much cheaper overseas, the thing is that shipping them back would even the cost. We dont build many large ocean going civilian vessels. Most of our major shipyards sit dormant, and many have closed.

[@thedinneris]

Peter is entirely correct. Sal, the Jones Act time has passed.

[@wgowshipping]

I disagree with some of Peter's assertions in the video and the Jones Act needs reform, not repeal.

[@tristan7216]

I thought of you immediately when I saw z banging on about the Jones act 😸, thanks for replying!

[@doughamilton1756]

Thanks for straightforward information, I thought he always talks about subjects he acts more knowledgeable than he really is!

[@robertdavis7341]

Great points you made!

[@pedroortiz4506]

I'm from Puerto Rico, Jones Act is a huge problem for us and most of us don't understand it.

[@wgowshipping]

It is an issue, but the latest Jones Act waivers were politically motivated and not because of need; which makes discussion about this issue difficult between the interested parties.

[@davidtran4760]

@@wgowshipping I remember that video Sal posted. The waiver allowed tankers to conveniently dock and offload the fuel for more profit. Which is not what the island needed as there were tankers already docked or just left the dock. The island has regular tankers that make a routine trip/ route to the island. I believe the issue was getting the diesel fuel to the inner part of the island. With other tanks offloading, the island will need lesser fuel, and now the normal tankers will make lesser visits to the island as the island capacity for the fuel is not there and due to new competition. So that pushed them away in search of a new location. Who knows if the new tanks will continue making regular visit to the island in the future after the profit is not there and the waiver ended. But the previous tanker potentially could of found a new location and not return That's how I see things potentially working out. Jones act is not perfect and like Sal said, it needs to be updated. These waivers for the Jones act is pure greed, does not set out to do anything they claim it to do.

[@boatbutch]

Thank you for bringing the “local knowledge” here. These (usually male) intellectual types can get dazzled by their own intelligence and undervalue the knowledge that only comes with direct experience. The best shipbuilding is a partnership between engineers and builders. Same rule seems to apply to policy too. Thank you for continuing to draw attention to the fact that the jones act is no longer a comprehensive maritime strategy. What’s left over is just a hulk without an engine.

[@colinadevivero]

Excellent presentation and arguments

[@williamlloyd3769]

Ventura County in California has had Port of Hueneme since 1941. Although the port receives trade from from many areas of the world, no mention is made of trade from intercostal trade. The county gets goods via Interstate 5 via 101 freeway, Class 1 rail road, and a little air freight. Port also services a diminishing offshore oil platform requirement. While we love the port, it is self supporting only due to US Navy requirement to keep channel open to support craft and ships associated with Naval Weapons Test Range, Military Sealift Command and Seabees. PS - Port specializes in importing bananas and new automobiles as port has a cost advantage over Port of LA-Long Beach in these and other specialized areas.

[@seventhapex]

Thanks for the context Sal!

[@privateer177666]

Shipbuilders on Lake Michigan alone are in Sturgeon Bay WI & Escanaba, MI…..

[@icleave]

Get him on and have a free exchange of ideas

[@stevedevney7322]

Isn’t the pallet the smaller shipping than a TEU? That way it still fits in a TEU, and ships easily as a TEU equivalent of a less than truck load type of load.

[@markodeen4105]

Someone beat me to it ''Call Sal''! I saw his bit this morning. He's certainly a guy that speaks with authority about many things...not necessarily with knowledge but that doesn't get you clicks and speaking fees.

[@AllNighterHeider]

Peter is more of a macro analyst, Sal is more of a specialist. Together, we get to consider their thoughts.

[@UnipornFrumm]

I hope peter sees your video

[@Robert-uo6qi]

Thank You for Your viewpoint and discussing the issue with supporting facts and experienced opinions. Peter Z is a smart guy, but He don’t know 100% about everything… Sometimes You gotta talk to people experienced in said industries.

[@ELuman]

Good job, thank you for this info.

[@fantabuloussnuffaluffagus]

Thanks for the video. The next question is - how does the US go about building back up the merchant marine. Do they?

[@DougBow96]

Thumbs up Thanks for the education

[@sleeplessvirus]

It’s much cheaper to ship that container by ship then by truck. That’s 25 hours by truck that means it’s gonna occupy the time of one truck driver the entire time it has been moved from Newark to Houston. Where is if you are in the ship it’s it occupies the time of a worker for maybe two hours maximum. The labor cost to move it by truck is 25 hours where is the labor cost to move it by ship is maybe two hours.

[@nefelibatacomingthrough2707]

I love Peter's work but it's difficult to find any material that discusses it. I can believe pretty much 100% what Peter says but I still want to hear all the smart (explained) counter arguments, hopefully put forth as well as his arguments. And this is one of those. +1+1+1+1+1

[@stephenkutney9626]

As you said, it's more than one issue. New York State will not allow any more pipelines to transport natural gas. Some pipelines run through NYS to New England but do not have enough capacity for cold winters.

[@mortsdans]

I think your best point in support of the jones act is national defense. IE if we fight a war against china for example, how will we handle shipping if they are the ones who were previously doing it? Well, I have a couple rebuttals on that point. First of all, out of the countries that you listed as providing most shipping: Philippines, Indonesia, India, China and Russia, three of them are nuclear powers. If we fight a war against India China or Russia we have way bigger problems than shipping and we'll probably be destroyed as a country anyway regardless of jones act. Second, even if we did have some unlikely scenario where we couldn't get shipping from say china and russia, there are still a ton of other options. We won't be fighting any wars against all 5 of those countries, never mind the whole rest of the world. We're in NATO, we have options, it would just cost more. But it already costs more with the jones act... Third, this is a great argument for just avoiding war. End the jones act, eliminate massive waste in shipping cost, avoid getting into wars, profit.

[@robpeters5204]

Love your vids Sal!!! You keep it simple and on point! People like Peter live in an illusionary world. You can see by the hotel background.

[@PlanetFrosty]

Good job Sal.

[@oremfrien]

With regards to Zeihan's point at 5:55, he is trying (perhaps inartfully) to say that if we compared our universe to one in which the Jones Act did not exist, we are doing over 90% less waterway transport than we would be doing in that alternate universe. The presumption is that foreign vessels would be the vast bulk of transport between US ports.

[@icRegions]

Good work. Why not invite him to a live Zoom? His book has other predictions about shipping, including a return of piracy.

[@JK-mh5lt]

Peter is right, our shipping rates are multiples higher than elsewhere, these high shipping rates has caused us to develop such great railway railway and road logistics, but no matter what they are less efficient.

[@wgowshipping]

The railway logistics and road logistics receive the benefit of massive government aid. Did the Class I railroads have to buy the land their railroads are on? US taxes on fuel, roads, and trucks are substantially lower than many other countries.

[@JK-mh5lt]

@@wgowshipping Sure, and none of that mutually excludes the effect that the jones act has has on raising shipping rates and shifting that transport to road and rail that would otherwise be more efficient through cabotage.

[@QALibrary]

A point about bridges 16:10 - your maths are a bit off by x2 and also depending on built-in environmental, state and building factors etc - you are NOT going just build a bridge that can take one fully loaded truck at a time each span will be designed for 2 trucks (one each way/lane) + 20 to 50% at least - depending on the span & location of the bridge - bigger the span more trucks you can have in that space thus heavier loads it needs to carry.

[@johnnyblue1101]

Great perspective. Things are generally more complicated than “big picture” pundits own up to

[@vtht65]

Nailed it.

[@Franklin-pc3xd]

Hey Sal - separate side note - time to revisit bulk shipping. The Baltic Dry Index ($BDI) has more than doubled in the past month - just sayin'. Sure, tankers are the prettiest girl at the dance right now, especially those 36DD LNG carriers - but dry bulkers like Eagle, Safe, and Genco ain't doing so bad either.

[@larryrhodes5719]

Enjoyed your analysis .

[@raypinkerton6961]

great information I like your show

[@stgravatt]

Great video. It's interesting how much information you both bring to the table, and the overlap (peter talks about how revolutionary the standardized shipping container is in his new book, for instance). And then how you both interpret it to get different conclusions.

[@mustavogaia2655]

It would interesting to see a video on those ships built based on the Jones Act. I got a little concerned with the examples on this video, as they didnt sound of the kinh that would quilify as amarine merchant or able to be used as a naval/military auxiliary.

[@wgowshipping]

nassco.com/products/construction/commercial-construction/matson-kanaloa-class-conro/

[@wgowshipping]

nassco.com/products/construction/commercial-construction/seacor-eco-product-tankers/

[@wgowshipping]

www.phillyshipyard.com/commercial-projects/

[@pauldelray5839]

Great video. Great counter-argument backed with evidence. The National Interstate and Defense Highways Act of 1956 created a number of unintended consequnces beautifully illustrated in the cartoon movie Car series. Many small businesses went bust on the Highway 66 because the construction of on and off ramps were completely absent here. Businesses left as customers lacked access. The rural people living here were mostly white and poor. Most Americans went to the suburbs requring a car. Helped by the Eisenhower Highway Act. Suburbs increased in population. The inner cities became plighted. When the government decided to help socially and economically the rural areas surrounding the Highway 66 area was ignored. Money flowed to the burbs ( G.I Bill) and inner cities. This created an angry rural poor / working class who resented the government because they were left out of many support programs for over 40 years. So while these rural areas are the biggest in size, they lack a large population base. The cities with their large populations have a smaller geographic impact. The Electoral College aggravates this divide. Rural went Republican and Urban/Coastal went Democract with exceptions. Resulting in the divided political parties of today. An unintended consequence of the National Interstate and Defense Highways Act of 1956.

[@99unclebob]

Great video Sal, yes Peter is a generalization sensationalist, he walked into his video and predominantly kicked the original copy of the Jones Act off the desk and says its the fault of all this, telling everyone one who worked in or a part of it was part and party to the current situation of the waterways which is the same as saying are fathers and fore fathers who worked the waterways and coastal ports were the problem to this current day, the 3 largest navies in WW2 were USA, Canada and Great Britain , we moved the most supplies to supply and keep safe most of the globe during WW2, If not for this and the ongoing development and protection of these areas of the world, things would be different, i agree with you things need to be brought back to our North American shores, to all 3 countries , Especially the semiconductor industry, without having to be held captive to the Chinese for almost everything, it is starting to comeback to us in some ways already, I see it in the heavy steel industry that i work in, our customers have seen the shitty Chinese steel products and don't hold at all and the deals signed with the Chinese aren't kept and they basically steal and reverse engineer every single thing that got sent to be made for all of us here, his video was shit, that is my opinion, you do the ground work and you produce good factual videos , which help subscribers understand the way things are currently and there is no easy fix to it, it can be fixed and will take time , biggest of all communication and agreements between all involved, you know us humans, right now its not a we society it is a me society so this is one of the hurdles to get over , ours is the biggest global market in the world so let us work to bring the making, designing and engineering of it back to North America , I think thats one thing we can all agree on 👍

[@peterbroderson6080]

I appreciate the insight and I feel the original intent of the John's Act is still valid. I have been listening to Zeihan, and feel he is a bit too full of himself at times, but in general has an interesting "world view"

[@ramakrishna5480]

If anybody can start a channel about every time Peter has gotten his facts wrong , he will be more famous than peter

[@courtcounselor]

Fantastic.... Don't underestimate ulterior motives.... I like Peter's content. He is a climate ideologist too.

[@richinoregon]

Peter buys the "climate change" garbage, yes. He is an economic globalist, yes, but he is a realist, he doesn't let those things cloud his vision. He does not advocate action to "solve" "climate change" knowing that the "solution" is a cure worse than the disease, and he does not advocate the US forcing the rest of the world to 'play nice' either as we did with the Britten Woods convention. Rather he looks at the trends he sees and makes predictions based on those. He predicted the mess in eastern Europe over ten years ago. He says he is actually surprised that it started so soon, he was not expecting it for another five to ten years.

[@kathleenriveraspencer4136]

ferries, barges and intercoastal shipping is actually an extension of our highway system .. will the new infrastructure act contribute to the enhancement of harbours and shipyards? imo, it should.

[@yedidyah-jedshlomoh1533]

You are brilliant. Why? You read. I enjoyed the video. Thanks.

[@josephsmith3908]

Im from Boston our docks are still extremely busy

[@robertferrand4906]

Now I am repeating that I am repeating. So,.....the story of Fred Astaire and Ginger Rogers. "she does want he does, but backwards and in heels." Comes to mind. You do know your Maritime History. As my Mentor, Harry Dring, Curator of the San Francisco Maritime Museum, said about me. "Hey, even if you think Ferrand is 50% bullshit, you have to worry about the other 50%". Well, applies to you, Sir.