Article source: ConstructConnect
There will be a lot riding on the hoped-for success of the U.S. manufacturing sector over the decade-plus ahead if the goals concerning carbon emission reductions by mid-century are to be met. There will need to be tremendously large investments in EV production line expansions, new EV battery plants, computer chip-making operations, and in the fabrication of all the building products that will go into renewable electricity generation, utility-sized power storage units, coast-to-coast recharging stations, new hydrogen extraction facilities, and so on.
Already, in 2022, there has been an unprecedentedly large number of mega-sized industrial projects that have been given go-aheads. One wonders to what extent the Federal Reserve’s current program of aggressive interest rate hikes will slow this work down. For a variety of reasons, as set out in the five following bullet points, perhaps not as much as one might suppose.
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