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for example, during the pandemic what happened was all of a sudden everybody started to learn the phrase supply chain. a year ago no one knew what the hell anybody was talking about when you said supply chain but now they all know, and we lost access to these these semiconductors in which new automobiles in the united states need 30,000 of them just to build a new automobile and we didn t have them. so we started investing here and what happened was when we encouraged the investment through the chips and science act and now we have an enormous investment in the united states, over $200 billion in long-term investment in semiconductors. we are rebuilding the economy of the united states with those semiconductors. it s not designed to hurt china. the only thing i did say with regard to china, there are certain extremely sophisticated semiconductors that we have built that are useful for nuclear and or other weapons systems. those we are not selling. we are not exporting ....
is yet to come and on day one of their re-election campaign, vice president kamala harris makes it clear she won t shy away from the campaign spotlight, so why are both her supporters and her critics cheering we re also keeping an eye on the white house where president biden will be holding a joint press conference with the president of south korea we are now hearing from the white house that should roughly start 30 minutes from now. we begin in new york where two trials involving former president trump are unfolding just blocks apart, and in both cases, prosecutors and judges are going to extraordinary lengths to protect the ordinary people working on them their concern that those people could be singled out by trump or his supporters by harassment, intimidation or personal attacks. donald trump just got a warning from the jungdge for going afte the woman suing him on social media. we re not just talking about the civil case in trump s criminal trial, prosecutors ....
investment through the chips and science act, and now we have an enormous investment in the united states, well over $200 billion in long-term investment in semiconductors and we re rebuilding the economy of the united states with those semiconductors it s not designed to hurt china the only thing i did say, certain that we build useful for nuclear weapons systems, we are not selling, we are not exporting to china or anyone else that s the context in which this has all occurred in the meantime, we are creating thousands of jobs and bringing back a sense of pride and dignity to so many towns in the country where all of a sudden over the last three decades we found out that factories have had 600 people shut down the soul of the community was lost, and so i made sure when the semiconductors were coming back that they were not just going to go to the coast they would be all over the country. and so we have a significant field of dreams outside of ohio, in columbus, we re i ....
that s what the white house wants to talk about. they believe they delivered. the president is dealing with a decision that was made out of his control. the significant, dramatic cut that was made in output levels by opec. the president, blunt, in his view of that. what s your reaction to the opec decision? disappointment. don t hurt him. is it going to be there s a lot of alternatives. we haven t made up our mind yet. reporter: there s so many different elements of this, the domestic economy, the global economy, the bilateral relationship, the geopolitics in the midst of the war in ukraine, and politics, 30 days out from the election. the white house is working on a series of options that the president may pursue to block major increases at the pump. they are aware this is a global market. a decision made by some countries that the u.s. viewed a s allies or should have been allies leading up to it. the disappointment is real. some rage, to some degree, when ....
this is on top of an announcement from another tech company in the region, micron, which said earlier this week it will spend $100 billion on a new plant in upstate new york. that is the good news that the president is trying to ride high into the midterms, which are 33 days away now. the not so good news, which republicans are seizing on, and democrats aren t too happen about either is opec plus s announcement to cut oil production, led by saudi arabia and russia. the cartel is taking 2 million barrels off the market a day, starting in november. that s 2% of the global oil production. now, while the united states is somewhat shielded from a price increase, because the white house has been tapping into the country s strategic oil reserves, the rest of the world is not, and prices are already climbing. beyond prices though, there is also political fallout, as we told you yesterday, the cut in production could have the effect of helping russia fund its war in ukraine. neu ....