U.S. STEEL UNEASY W/CO2 CAPS

U.S. Steel chairman warns about emissions cap
Dan Reynolds, May 16, 2007 (Pittsburgh Business Times via Sacramento Business Journal)

WHO
John Surma, chairman/CEO, U.S. Steel Corp.

WHAT
The viability of the US steel industry, and the jobs it provides, may be dependent on the way greenhouse gas emission (GHG) reducing measures are instituted.
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WHEN
Surma’s comments were made May 16.

WHERE
US Steel is based in Pittsburgh, PA.

WHY
- US Steel provides 43,000 jobs.
- Restrictions are not likely to hamper the Chinese steel industry, putting US Steel at a significant competitive disadvantage.
- According to Surma, the science of removing GHGs in the manufacture of iron and steel, essential to vehicle makers and builders, is decades away. Despite this, lawmakers are talking about capping the industry’s emissions and assessing cost for excesses. Surma cited President Bush’s actions this week on vehicle emissions, California’s efforts under Governor Schwarzenegger’s aggressive leadership and a Minnesota Senator’s call for national indexing of GHG emissions.