Capex and Institutional Uncertainty

"Just one chance in a hundred to make one improvement in a hundred."
--Don Walling (Executive Suite)

Classic example of organizational response to institutional uncertainty. US Steel (X) decided to shelve a job creating plant expansion in the face of a hostile regulatory environment. Perhaps the company will play wait-and-see. Maybe it will pursue a similar project in a region of the world friendlier to capital investment. 

Of course, the project may be gone for good.

Any way you slice it, an opportunity for domestic productivity improvement has been squandered by a hostile regulatory regime.