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steel industryPolitico
•78% Informative
Cleveland -Cliffs CEO Lourenco Goncalves said the Ohio -based company produces the steel with the lowest carbon emissions in the world.
He said his company cannot persuade buyers, mostly in the automobile sector, to pay the price to cover the costs of producing more environmentally friendly steel.
The move would offer the latest big setback for the president’s attempt at a climate-friendly remake of American manufacturing.
Goncalves says automakers want their stock price to be the same stock price as Tesla .
Cleveland -Cliffs is still working with the Biden administration on a $1 billion DOE grant for a so-called hydrogen hub.
He said negotiations with the federal government are “not moving as fast as I would like,” while noting a $9 million feed-in pipeline was built.
VR Score
80
Informative language
78
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39
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English
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