As President Biden and his administration continue to roll out their agenda ahead of the 2024 election, he will argue that his administration has done much good work addressing climate issues.
President Joe Biden speaks at the Lucy Evans Baylands Nature Interpretive Center and Preserve in Palo Alto, Calif., Monday, June 19, 2023. Biden talked about climate change, clean energy jobs and protecting the environment. and his administration continue to roll out their agenda ahead of the 2024 election, he will argue that his administration has done much good work addressing climate issues.
Two years ago, Congress created a new $2 billion federal Buy Clean Initiative in the Inflation Reduction Act. The program requires the federal government to purchase steel with “substantially lower” emissions. Yet instead of adopting a single emissions standard required by the statute, thehas created two emissions standards: One applies to high-emitting integrated producers, and the other is for low-emitting producers that use electric arc furnaces.
Each ton of steel produced in an electric arc furnace emits about 70% less greenhouse gas emissions than steel made in an integrated steel mill. Yet the Buy Clean program’s dual emissions standards now allow integrated steel products to be classified as clean along with identical steel products made in electric arc furnaces with far lower emissions levels.is picking winners and losers in the market, which prevents tried-and-true market forces from going to work.
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