Europe Wants Green Steel but Can’t Afford It ...Middle East

OILPRICE - Economy
Europe Wants Green Steel but Can’t Afford It
source : OILPRICE ( Middle East ) () 39
The European Union has pledged billions in rearmament spending. It also just pledged billions in higher NATO spending. Steel is a crucial part of the rearmament drive. Without it, you can’t build tanks and make weapons. But Europe does not just want any steel—it wants it green. And green steel is so expensive, companies are walking away from green steel projects in droves. This week saw one of the world’s largest steelmakers, ArcelorMittal, ditch its plans for the conversion of two plants in Germany to green hydrogen as an energy…

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