Tags: michael bloomberg | steel | coal | natural gas

Will Michael Bloomberg Kill American Steel?

Will Michael Bloomberg Kill American Steel?
Former New York City Mayor Michael Bloomberg speaks with the media during an exploratory trip on January 29, 2019, in Nashua, New Hampshire. (Scott Eisen/Getty Images)

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Monday, 10 June 2019 03:47 PM Current | Bio | Archive

On Friday, June 7, 2019, Michael Bloomberg — billionaire, CEO, ex-mayor of New York City, and social-justice warrior — gave the MIT commencement address. After briefly lauding the geniuses attending, he turned the spotlight on himself.

Bloomberg called climate change a political problem, not a scientific quandary. Accordingly, he bragged about killing the coal industry: “A decade ago, no one would have believed that we could take on the coal industry and close half of all US plants. But we have.”

Then, under the guise of “tackling climate change” — he claims the science keeps moving the possible inflection point of irreversible global warming closer and closer — he announced his intention to pump $500 million into a new initiative, Beyond Carbon, to close coal-fired power plants and stop the construction of gas plants.

His “goal” is to make the U.S. a 100-percent clean-energy economy, to achieve more good jobs, cleaner air and water, cheaper power, more transportation options, and less-congested roads — and to defeat the EPA's attempts to cut regulations that reduce carbon pollution and protect our air and water.

Synopsis of Bloomberg’s Plan:

  1. Shutter every last U.S. coal-fired power plant by 2030 — just 11 years from now (achievable, he says, because he’s already more than half-way there: closed 289 coal-fired power plants since 2011, including 51 since the 2016 presidential election).
  2. Stop building new gas plants. Says cities like L.A. and states like New Mexico, Washington, Hawaii, and California are already stopping new gas-plant construction in favor of renewable energy.
  3. Push new incentives and mandates that increase renewable power, pollution-free buildings, waste-free industry, access to mass transit, and sales of electric vehicles, which are turning the combustion engine into a relic of the industrial revolution.

What problem is Bloomberg really solving?

He claims that “science keeps moving the possible inflection point of irreversible global warming closer and closer.” Evidence? Forecasts of man-made global warming are derived from computer models, not actual data.

Bloomberg also states that “[the resistance to] climate change is a political problem, not a scientific quandary, or even a technological puzzle.” As a degreed engineer (BSEE, Johns Hopkins University, 1964), he should know that settled science is baloney.

Bloomberg calls the combustion engine a relic of the Industrial Age. Really?

What will power the batteries in his electric cars? According to Steven Hayward, senior resident scholar at the Institute of Governmental Studies at UC Berkeley: “To match the energy equivalent of a typical gasoline filling station today, an electric filling station would have to have 30 megawatts of capacity, equivalent to the electricity use of 20,000 homes.”

Coal is essential to keeping America running. According to the U.S. Energy Information Administration (EIA), in 2017, about 62.7% of the electricity generated was from fossil fuel (coal, natural gas, and petroleum), with 30.1% attributed from coal. Believing that coal can disappear in 11 years is folly.

Here’s what Bloomberg omits in his unproven, progressive, lovely-sounding technobluster: He’ll kill the American steel industry. According to the World Coal Association, in 2017, 71 percent of the world’s steel (1.6-billion tons) was made from coal. U.S. Steel, America’s second-largest steel producer, relies almost totally on coal.

Moreover, natural gas, which the former NYC mayor also wants to eliminate, has helped to make America energy-independent and is seen as a long-term replacement for coal in steelmaking.

The other 29 percent of steel is made by melting the scrap, in electric-arc furnaces (EAFs), of coal-produced steel. An EAF requires about 440 kilowatt-hours to melt one ton of scrap. Nucor, based in Charlotte, North Carolina, America’s largest steel producer, shipped 28-million tons of steel in 2018. You do the math. Nucor’s power won’t be coming from windmills and solar panels.

If Bloomberg and his army of fanatical ecoactivists kill American steel, think of the jobs lost and the massive destruction to the economy. Then what?

Bloomberg is a smart, successful guy. Why is he advocating something illogical and unworkable? Ego. I refer you to his April 2017 interview with Steve Kroft of "60 Minutes":

“I like what I see when I look in the mirror....We’ve probably saved millions of lives, and certainly we’ll save tens of millions of lives going forward,” he says referring to the causes he has supported and funded for the future. “There aren’t many people that have done that. So, you know, when I get to heaven, I’m not sure I’m going to stand for an interview. I’m going right in,” Bloomberg says with a laugh.

Enough said.

Marc Rudov is a branding advisor to CEOs, speaker, media commentator, and author of "Brand Is Destiny: The Ultimate Bottom Line" and "Be Unique or Be Ignored: The CEO’s Guide to Branding." Find him at MarcRudov.com. For more of his reports, Go Here Now.

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On Friday, June 7, 2019, Michael Bloomberg — billionaire, CEO, ex-mayor of New York City, and social-justice warrior — gave the MIT commencement address. After briefly lauding the geniuses attending, he turned the spotlight on himself.
michael bloomberg, steel, coal, natural gas
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2019-47-10
Monday, 10 June 2019 03:47 PM
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