The Port of Argentia is anxiously awaiting the inauguration of President-elect Donald Trump, to see whether or not his “drill, baby, drill” energy policy will become a reality.
Trump is a supporter of the U.S. oil and gas industry. NPR reported late last year that the president-elect had adopted the campaign slogan “drill, baby, drill” to highlight his plans to increase fossil fuel production and scale back renewable energy initiatives.
Trump has already threatened Canada with a 25 per cent tariff on all Canadian imports into the United States. The Associated Press reported on Thursday that Trump had tasked New Jersey congressman and critic of offshore wind, Republican Rep. Jeff Van Drew, to halt offshore wind energy projects.
Trump’s attitude toward renewables, and his tariff threat, has executives at the Port of Argentia nervously watching and waiting.
“We’re like every other industry. Whether it be milk or whether it be the importing of goods that are destined to the United States. There’s not a lot we can do at this point,” said port CEO Scott Penney said.
In September, the Port of Argentia secured a contract to support the United States offshore wind market. The port receives wind turbine blades and monopiles from Europe, and stores them until they’re shipped and installed at offshore wind farms in the eastern United States.
If the materials are moved to the United States, Penney said the developers might have to pay the new tariffs and the Port of Argentia could lose a significant contract.
“It goes back to the old adage: tariffs are not good for anybody — the U.S. or Canada,” he said.
On top of anxiety about possible effects on their wind energy industry contracts, Penney is equally concerned about how tariffs could affect some of the port’s other users in the offshore oil, aquaculture, and mining industries.
“We touch a lot of industry,” he said. “One impact will have a domino effect.”
The Port of Argentia is connected to the town of Placentia. Its mayor, Keith Pearson, said the port is an important source of revenue for the town, and if the port loses businesses because of Trump’s tariffs, the town will also be out money.
“No different from everyone else in the country, the town is concerned,” Pearson said. “No matter what, there’s definitely a concern for Argentia.”
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