Importance of steel and steel industry to modern America. Homework Help

Why is steel and the steel industry so important to the creation of modern America?

ROLE OF STEEL INDUSTRY TO MODERN AMERICA

The purpose of this paper is to analyze why steel and steel industry is important to the modern America. Steel products and steel industry have contributed to the growth and development of American economy to become the world economic power. Steel products are used in making economic pillars of America such as roads, railway lines and military equipments. Currently steel still is providing both direct and indirect employment opportunities to the citizens of America and according to Fraser, et al, (2012), it plays an important role in the manufacturing sector of modern America.

Steel industry is currently employing a sizable number of American citizens currently estimated to be more than 160,000 of high skilled workers producing over $60 billion specialty alloy steel products yearly using the state of the art technology as pointed in the America steel and iron institute (2007) report. These workers produce flat rolled[1] and long products, carbon pipe and tube, steel wires and fabricated steel products. A large number are indirectly working in steel related firms across the country and contribute to the national economic growth and development.

Steel products are used in making military equipment thereby contributing to country defense and homeland security[2] objectives. Military weapons ranging from missiles, jet aircraft, submarines, helicopters among others are made from steel materials and products which forms a major component of US military strength, (American steel and iron institute, 2007). These products are also used to construct military infrastructures and bases in America and abroad. There exists strong interdependence between steel and national security which has been universally recognized by all leaders in the government of modern America.

Steel products are used in the construction of American energy infrastructure such as oil refineries, building oil and gas pipelines, petroleum tanks, electricity power generators, and power transmission powers, (Fraser, et al, 2012). Energy industry is a major contributor to the growth of American economy and economic development of its citizens. America is exporting steel and its related products which earn foreign exchange for the country and enhance its balance of payment position.

Steel products are used in construction of essential infrastructures such as railway lines, roads, bridges and mass transit systems. They are also used in building seaports, airports and sports stadia. Steel products are also used in construction of health and safety infrastructures such as hospitals. These infrastructures are necessary for they enhance trade and movement of people to engage in economic activities.

The reasons why steel and steel industry is important to the modern America lies in its importance to U.S infrastructure, homeland security and economic security. Steel industry currently employs many American citizens who derive their livelihood directly and indirectly from steel industry. Steel products are used in construction of important infrastructures such as roads and railways, hospitals, commercial and residential buildings. It is also used in making military equipment which enhances American defense and homeland security.

Bibliography

American steel and iron institute. 2007. “U.S. STEEL INDUSTRY ANALYSIS: Importance of domestically-produced steel to overall national defense objectives And Economic and military security”. January 2007.

Fraser, Steve, and Joshua B. Freeman. 2012. “IN THE REARVIEW MIRROR: Trading Places: Protecting American Industry Is So Yesterday.” New Labor Forum (Murphy Institute) 20, no. 1 (Winter2011 2011): 90-93. Business Source Complete, EBSCOhost (accessed March 28, 2012).