Heat Treat Industry News

May 14, 2010

Senate climate bill does not protect US steel industry, AISI says [UPDATE]

The draft climate bill unveiled this week doesn't go far enough to protect the U.S. steel industry amid continued concerns that manufacturing will leave the United States, according to Thomas J. Gibson, president of the American Iron and Steel Institute (AISI).

The discussion draft of the American Power Act released by Sen. John Kerry (D., Mass.) and Sen. Joe Lieberman (I., Conn.) is the Senate's version of a climate-change bill that has been under close scrutiny from the steel industry, which fears the legislation will be too stringent and force manufacturing operations to move to countries with less-restrictive environmental regulations.

There also are fears that the cost of compliance will be too high, placing American manufacturers—particularly steelmakers—at a competitive disadvantage against global rivals.

Thomas A. Danjczek, president of the Steel Manufacturers Association, Washington, said the bill amounts not to a power generation bill but to a tax generation effort. He called the Kerry-Lieberman bill a "cap-and-tax" measure.

By Scott Robertson - Published: May 13 2010 1:49PM

Source: http://amm.com/

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