U.S. steel industry urges "buy America" recovery plan

[Adsos Letter]

Source: Reuters

WASHINGTON (Reuters) - The ailing U.S. steel industry is pressing President-elect Barack Obama for a public works plan that could be worth $1 trillion over two years to boost flagging demand for U.S.-made steel, the New York Times reported in Friday's editions.

Daniel DiMicco, chairman and chief executive of Nucor Corp, a giant steel maker, told the paper the industry was asking the incoming administration to "deal with the worst economic slowdown in our lifetime through a recovery program that has in every provision a 'buy America' clause."

The industry supports building mass transit systems, bridges, electric power grids, schools, hospitals and water treatment plants -- all of which would require large amounts of steel.

"We are sharing with the president-elect's transition team our thoughts in terms of the industry's policy priorities," Nancy Gravatt, a spokeswoman for the American Iron and Steel Institute, was quoted as saying.

http://www.breitbart.com/detail.php?ch=Reuters&wfeed=reuters

[Tighelander]

1. "Buy America"?

I think China might have a plan with the same name.

[Oregone]

2. When I was young, I learned that cars would soon be constructed from lightweight, strong carbon...

based materials. I learned that even homes could be constructed from such materials. In vehicles, it was supposed to allow far more safety, as well as a drastically reduced weight to improve efficiency (there was also talk of light ceramic engine blocks instead of steel).

Im not an engineer or a scientist in this field, so I only remember what I was being told and read. Who knows how plausible it is. But, I wonder, could an industry, lobby, and even industry-related unions stand in the way of forward innovation, in order to avoid becoming obsolete?

[cabluedem]

3. I recall the ceramic motors being touted, but can't recall lightweight carbon bodies...

being talked about at all. Carbon fiber is not cheap, and back then it was unheard of AFAIK.

Not sure how the ceramic motors would hold up or how much they would cost compared to a conventional engine. Also I have never seen or heard of a working model, but I suppose it must exist somewhere.

[Tighelander]

4. I Have Seen Companies That Make Carbon Fiber Drive Shafts

I guess that's not too useful unless you've got a rear wheel racer. I also saw the Car Guys talk with someone that made Carbon Fiber body parts. They pounded a piece to show how strong it was.