$140m well spent at $16.20/tonne

The Kākā by Bernard Hickey · May 21, 2023 · 27m

TL;DR: The Government has adopted some of the US-style ‘Green’ industrial policy that is proving so effective in ramping up emissions reductions there, announcing the spending of $140 million from the Climate Emergency Response Fund to pay for almost half of a new electric arc furnace at NZ Steel’s Glenbrook plant.

In an immediate response, National Leader Christopher Luxon accused the Government of corporate welfare and said NZ Steel’s Australian parent BlueScope should have paid for all of the furnace, which will cut Aotearoa’s emissions by 800,000 tonnes a year — the equivalent of the…