TOP NEWS
Infrastructure Bill Passes
The House of Representatives, on Nov. 5, passed the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), ending months of in-fi ghting and political intrigue over the issue.
Infrastructure Bill Signed
On Nov. 15, President Biden signed the Infrastructure Investment and Jobs Act into law. He welcomed lawmakers from both parties, from Congress and from state and local governments, to celebrate the passage of the bill and tout what he insisted would be the “transformational ways” it would improve day-today life for many Americans.
Landrieu to Oversee IIJA Implementation
President Biden named former Lt. Governor of Louisiana and mayor of New Orleans Mitch Landrieu senior advisor responsible for coordinating implementation of the Infrastructure Investment and Jobs Act.
MSHA WATCH
MSHA Deputy Assistant Secretary Jeannette Galanis informed stakeholders that MSHA would not issue an Emergency Temporary Standard requiring all employers with 100 or more employees be fully vaccinated or require any workers who remain unvaccinated to produce a negative test result on at least a weekly basis before coming to work. MSHA continues to encourage miners to get vaccinated, and mine operators and organized labor are doing the same.
USGS STATS
An estimated 415 million metric tons (Mt) of crushed stone was produced and shipped for consumption in the United States in the second quarter of 2021, an increase of 4% compared with that of the second quarter of 2020, according to Jason Willett, U.S. Geological Survey aggregates commodity specialist.
ECONOMIC INDICATORS
• Total construction starts pushed 16% higher in October to a seasonally adjusted annual rate of $1.01 trillion, according to Dodge Construction Network.
• The Dodge Momentum Index increased 10% in October to 181.2 (2000=100), from the revised September reading of 164.6.
• Construction spending during September 2021 was estimated at a seasonally adjusted annual rate of $1,573.6 billion, 0.5% (±1.0%) below the revised August estimate of $1,582.0 billion.
ENERGY
WTI CRUDE OIL FUTURES
11/22/2021: $76.75/barrel; down $4.13 from week earlier; up $34.60 from year earlier.
NATURAL GAS FUTURES
11/22/2021: $4.789/MMBtu, down $0.228 from week earlier; up $2.139 from year earlier.
RETAIL DIESEL
11/22/2021: $3.724/gal., down $0.010 from week earlier; up $1.262 from a year earlier.
ELECTRICITY
8/21/2021: Average price to industrial customers 7.65 cents/kilowatt hour; up from 7.07 cents/kilowatt hour a year earlier.
Source: U.S. Energy Information Administration