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February 27, 2008

Nucor NUE Annual Report, Greenhouse Gases, and Democrats

From the 10K filing of Nucor Steel (NUE):

"Our steel making processes, and the manufacturing processes of many of our customers and suppliers, are energy intensive and generate carbon dioxide and other “Greenhouse Gasses” (GHG’s).

In 2007, several bills were introduced in the United States Senate that would regulate GHG and carbon dioxide emissions. This legislation, when adopted, will increase our energy and other operating costs. This legislation regulates domestic production but excludes imports from the same standards for a period of eight years, which will make domestic manufacturing uncompetitive with imported products during this time. These increased costs could also encourage more of our customers to relocate their manufacturing facilities to foreign countries that do not regulate GHG emissions and where Nucor is not positioned to sell or distribute our products. This legislation is also likely to increase energy costs for all U.S. consumers resulting in a weaker domestic economy."

Democrats talk a good game about how they support the American worker but it is all bull. The truth is that they care more about the environment than they do about the American worker. Just from reading this, some of the legislation proposed or passed sounds like they want to exempt foreign companies from compliance with US environmental laws for a period of 8 years. The natural impact of such a policy, if enacted, would be to make the American Steel industry, and any other company and industry that must comply with the same legislation, uncompetitive with the rest of the world, thereby resulting in layoffs, plant closings and companies going out of business.

So apparently for all the talk Democrats do about how, "We care about the American worker", the truth is that they don't care. If a company is putting any pollution into the air, then clearly the company should be forced to shut down and all their employees should have to lose their jobs.

Why would you exempt imported products for a period of 8 years? 8 freaking years? Do they not produce the same Greenhouse Gases, if not more than American producers of products? Damn right they do.

Should American companies AND employees be the ones to suffer for the Democrats prioritizing the environment over a persons right to have a job and being able to support his or her family?

People should always take a priority over the environment.

 

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