BREAKING: California is building its first new steel mill in over half a century.
Pacific Steel Group is investing $700 million in a steel production facility in Kern County, designed to melt recycled steel and manufacture rebar for critical infrastructure projects.
The quiet part out loud: if we want new North American and European chemical and metal production capacity, we must simply shovel money into the fire until it happens (like China did). The Excel sheets say don't do it, but it's the only way.
https://t.co/B4F9SW49G5
For context: at the beginning of 2021, installed battery capacity in California was a rounding error. Now it's cranking out the equivalent power output as six nuclear reactors when grid operators and markets call. That happened fast (and a lot more to come!)