Business
Autoworkers Union Chief Gives Trump’s Tariffs a Mixed Review
The head of the United Automobile Workers union voiced partial support on Thursday for the Trump administration’s tariffs, saying targeted duties on other countries could help bring some manufacturing jobs back to the United States.
But the union’s president, Shawn Fain, described President Trump’s across-the-board global tariffs as “reckless.” In an address to U.A.W. members that was streamed on YouTube and other social media, he also strongly criticized the administration for firing federal workers and slashing key government agencies, and accused it of violating the civil rights of students and others.
“We support use of some tariffs on automotive manufacturing and similar industries. We do not support tariffs for political games about immigration or fentanyl,” Mr. Fain said. “We do not support reckless tariffs on all countries at crazy rates.”
The address appeared aimed at distancing the union leader from Mr. Trump. In previous weeks, Mr. Fain praised the White House’s tariff plans and faced some criticism for moving closer to an administration that often shows hostility to organized labor. He campaigned frequently and enthusiastically last year for former Vice President Kamala Harris, the Democratic presidential nominee, often rousing crowds by referring to Mr. Trump as a “scab.”
“We are not aligning everything we do with the Trump administration,” Mr. Fain said on Thursday. “We are negotiating with the Trump administration.”
Mr. Fain used the address to repeat familiar claims that free trade agreements — in particular, the North American Free Trade Agreement — allowed corporations to move U.S. factories and jobs to low-wage countries. He said some 90,000 factories in the United States closed in the last 30 years, hollowing out once thriving manufacturing cities like Flint, Mich., and Gary, Ind.
While he blamed both Democrats and Republicans for supporting policies that have hurt U.S. manufacturing, Mr. Fain said the resulting “pain and anger” had led many workers who traditionally supported Democrats to gravitate toward Mr. Trump.
“We have to end this free trade disaster, and we don’t care whether it’s a Republican or Democrat who does it,” he said.
Mr. Fain said that General Motors, Ford Motor and Stellantis had excess manufacturing capacity in their U.S. plants and could create thousands of auto assembly jobs by making full use of them.
He added that he disagreed with “90 percent of what the Trump administration is doing,” especially the cuts at the National Institutes of Health that have disrupted research into cancer and other diseases.
“We’ve seen the destruction of bargaining rights for one million federal workers. We’ve seen an attack on the National Labor Relations Board and the illegal firing of a board member,” he said. “We’ve seen the attacks on Social Security and Medicare and Medicaid, programs that millions in the working class depending on.”
Mr. Fain did not mention Elon Musk, who as an adviser to Mr. Trump has been leading efforts to fire tens of thousands of federal workers and to make deep cuts at agencies including the Department of Education and Department of Veterans Affairs. Mr. Musk, the chief executive of Tesla, has strongly opposed U.A.W. efforts to organize Tesla’s workers in the United States.
Mr. Fain noted that Mahmoud Khalil, the recent Columbia University graduate who was arrested by federal immigration agents last month, had once been a student instructor represented by the U.A.W. Grant Miner, a graduate student who was expelled by the university last month, is president of U.A.W. Local 2710, which represents Columbia student workers.
Business
Gasoline price gouging in California draws a warning
California’s petroleum market watchdog is warning about price gouging at some gas stations charging over $7 or even $8 a gallon as the Iran war sends oil prices soaring.
The average price of gas in California is currently $5.66, but as of Friday, a Chevron station in Essex is charging $9.69, another in Los Angeles’ Chinatown is charging $8.71, and one in Vidal Junction is charging $7.79, according to GasBuddy, which tracks prices across the country.
“Our team is vigilantly monitoring the retail, wholesale, and spot markets,” said Tai Milder, director of the California Energy Commission Division of Petroleum Market Oversight, in a statement. “Any reports of unfair practices or market manipulation will be taken seriously, and we will not hesitate to refer any illegal conduct for further investigation and prosecution.”
Gas prices have jumped some 30% nationally since the U.S. and Israel attacked Iran three weeks ago and Iran blocked 20% of the global oil supply. Californians, who already faced prices over $1 per gallon higher than the national average, are especially feeling the squeeze.
The extremely high prices at some gas stations in California “are not supported by current crude oil prices or gasoline futures,” the division said.
California’s oil and gas watchdog division was created in 2023 to provide greater insight into the state’s petroleum market after summer gas price spikes exceeded $6 per gallon two years in a row.
The state consistently sees the highest fuel prices in the country due to state taxes and fees, environmental programs, a cleaner fuel blend requirement and an isolated petroleum market, where 80% of gasoline comes from in-state refineries.
This isolation makes California gas prices more sensitive to refinery outages and market manipulation. In 2024 the division reported that, after accounting for environmental rules and taxes, Californians still pay an extra 41 cents more per gallon and the largest share of that goes to industry profit. They also found that the price spikes of the previous two years were caused by refineries going offline without backup supply and “potentially manipulative trading” in those under-supply conditions.
Lawmakers and regulators have been more quiet about price gouging of late and the energy commission put a decision to impose a profit cap on refiners on hold after a series of refinery closures raised concerns about future fuel supply shortages.
Jamie Court, the president of the nonprofit ratepayer advocacy group Consumer Watchdog, said the fact that the gap between national and California prices has widened since the start of the war is evidence of price gouging.
“We know they made 49 cents per gallon in January,” said Court, of the refineries. “We know now that their margins are closer to $1.25 per gallon,” he said, citing the group’s analysis of state and Oil Price Information Service data.
Chevron said in a statement that most of its gas stations are owned and operated by independent business people who are “free to set the retail price of fuel and other products.”
“Those costs are generally determined by fundamental economic forces like demand, supply and competition,” said spokesperson Ross Allen, who added that crude oil prices, which make up the bulk of gas prices, have gone up but California’s taxes and environmental fees can also add over $1.20 a gallon.
Valero, Marathon Petroleum, and Shell did not respond immediately to requests for comment.
The petroleum oversight agency said it reached out to stations where pricing appears “excessive and disproportionate to increases in those sellers’ costs” including “multiple stations in Los Angeles and San Bernardino counties, in addition to multiple stations in Northern California” since the war began.
It also encouraged Californians “to shop around and compare prices between name-brand and unbranded (or generic) gasoline.”
“While retailers typically charge more for branded gasoline, all gasoline sold in California must meet the state’s high standards for emissions control and engine performance,” read the statement.
Business
California attorney general asks judge to block Nexstar-Tegna merger
California Atty. Gen. Rob Bonta is asking a judge to unravel Nexstar Media Group’s $6.2-billion acquisition of rival TV station owner Tegna — the latest in a flurry of merger twists.
Nexstar announced late Thursday that it had consummated the Tegna takeover — despite a lawsuit that Bonta and seven other Democratic state attorneys general had filed in federal court the previous day.
The state officials sued to block the union of the station groups, alleging the new colossus would violate antitrust rules and a federal law limiting broadcast station ownership.
The lawsuit was filed in U.S. District Court in Sacramento.
Hours after that filing, the Federal Communications Commission’s Media Bureau in Washington approved Nexstar’s deal — clearing the way for the nation’s largest TV station group owner to swallow the third-largest station group.
The purchase gives Nexstar, which owns KTLA-TV Channel 5 in Los Angeles, 265 television stations.
On Friday, Bonta and the other attorneys general asked a judge for a temporary restraining order to freeze the takeover until a hearing on the matter.
“Nexstar/Tegna is not a done deal,” Bonta said Friday in a statement. “I will not let these corporate behemoths merge without a fight.”
It was not immediately clear when a judge might rule on the request for a restraining order.
Bonta appeared at a lawmakers’ hearing in Burbank on Friday to explore the impacts of another huge merger: Paramount Skydance’s proposed $111-billion takeover of Warner Bros. Discovery. Bonta’s office has opened an investigation into the Paramount-Warner merger, but Bonta said Friday that no decision has been made on whether he or other attorneys general will seek to block it.
For now, he is focused on derailing the Nexstar-Tegna deal.
“We filed a suit before that deal closed,” Bonta told The Times. “We think our case is extremely strong. There is no way this should be approved.”
At issue is whether the FCC had the power to grant a waiver that would allow Nexstar to control TV stations that reach nearly 80% of U.S. households. In 2003, Congress set the station ownership cap at 39% of the country.
The Department of Justice also gave its blessing to close the deal.
The three FCC commissioners did not vote on the matter — despite pleas from the lone Democrat on the panel who advocated for an open process.
Approval of the merger was rapid after President Trump endorsed the consolidation on Feb. 7.
“We need more competition against THE ENEMY, the Fake News National TV Networks,” Trump wrote in his social media post.
“Letting Good Deals get done like Nexstar – Tegna will help knock out the Fake News because there will be more competition, and at a higher and more sophisticated level,” Trump wrote. “GET THAT DEAL DONE!”
In a statement Thursday, Nexstar founder and chief executive Perry Sook thanked Trump and FCC Chairman Brendan Carr, saying Nexstar was “grateful” they recognized the “dynamic forces shaping the media landscape” and allowed the transaction to move forward.
Business
Where Oil and Gas Sites Have Been Attacked During Iran War
Multiple strikes
in Tehran
At least 37 energy oil refineries, natural gas fields and other energy sites in nine countries have been damaged since the United States and Israel began bombarding Iran, a New York Times analysis found. Some have been struck by drones. Several have been hit more than once.
As the attacks escalate, both sides increasingly view energy as a potent target — one that is capable of inflicting severe economic pain. Iran depends on oil and natural gas to keep the lights on and its government running, while the United States wants to prevent prices from soaring further and damaging the underpinnings of the global order.
The question is no longer just when Iran’s tight grip on the Strait of Hormuz, a narrow but critical passage on its southern coast, will ease enough for most ships to pass. It is also how long it will take to complete repairs needed to produce and process oil and natural gas in the first place.
“The longer this war goes on, the more likely it is that the two sides are going to play their strongest energy-leverage cards,” said Clayton Seigle, an energy expert at the Center for Strategic and International Studies, a Washington research group. “The attacks on facilities are not easily reversible.”
To count the number of attacks and disruptions at energy facilities in the region, The New York Times reviewed statements from government, state-run and private energy companies. The Times also reviewed lists compiled by ClearView Energy Partners and the Institute for the Study of War, two research firms, and subsequently verified their findings.
Through Friday, The Times had found a total of 45 attacks, though there is no official accounting and more may have occurred. Strikes occur seemingly every day.
The importance of energy in the war became even clearer after Israel struck facilities tied to Iran’s South Pars gas field on Wednesday. Iran responded by lashing out across the Gulf. At least 10 sites were damaged this week, The Times found, including an energy hub in Qatar, as well as oil refineries in Kuwait, Saudi Arabia and Israel.
The various attacks sent oil and natural gas prices soaring as traders worried that much of the Gulf’s energy could remain effectively landlocked for a while, possibly months. Brent crude, the international oil benchmark, briefly topped $119 a barrel on Thursday morning before retreating. Oil fetched less than $73 a barrel before the war started on Feb. 28, a price that reflected the possibility of a war.
“It’s been the cumulative effect that’s really driven this crisis,” said Raad Alkadiri, a Washington-based political risk analyst who specializes in energy and the Middle East.
While oil has been front and center, analysts are especially concerned about the damage to the world’s largest natural-gas export terminal, called Ras Laffan, on Qatar’s coast.
The sprawling facility, which is operated by the state-owned QatarEnergy company, cools natural gas into liquid that can be loaded onto tankers and shipped. But Qatar said on the third day of the war that it had stopped producing liquefied natural gas, citing military attacks.
This week’s strikes caused further damage, compromising 17 percent of the country’s L.N.G. export capacity, QatarEnergy said on Thursday, adding that repairing the damage could take up to five years.
There is no easy replacement for that fuel, which is used to generate electricity and heat homes. And there is little spare L.N.G. capacity in other countries.
Other points of vulnerability include the oil export terminals where the United Arab Emirates and Saudi Arabia are rerouting oil to avoid the Strait of Hormuz. One of those areas, in the Emirates, was targeted as recently as this week. A refinery near the other, in Saudi Arabia, was also hit by a drone.
“It could become a lot worse if the craziness continues to prevail,” said Charif Souki, a former chief executive of Houston-based Cheniere Energy, a large L.N.G. company. “But there are so many people who have a vested interest in not letting it get too far out of hand.”
Indeed, countries around the world have agreed to release oil from emergency stores to stem rising prices. The U.S. military is also attacking Iranian vessels and drones to try to clear the Strait of Hormuz, and the Trump administration said it would lift sanctions on Iranian oil to nudge prices down.
In many cases, it is hard to know how severe the damage has been to a facility.
As Kevin Book, managing director of ClearView Energy Partners put it, “The last thing they probably want to do is tell Iran, ‘You missed me, try again.’”
Even when companies have been more forthcoming, their disclosures have sometimes only raised more questions.
Mr. Souki said he was surprised to hear that QatarEnergy expected it would take up to five years to repair its L.N.G. facilities. “I think he’s hedging his bets at the moment,” Mr. Souki said, referring to QatarEnergy’s chief executive. “You can always give good news later.”
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