It’s a mutual suicide pact only if we want to join


While China and India cheer

While China and India cheer

EU commissioners warn that energy costs are crushing European manufacturing.

“We face a systemic industrial massacre,” said Antonio Tajani, the European industry commissioner.

Mr Tajani warned that Europe’s quixotic dash for renewables was pushing electricity costs to untenable levels, leaving Europe struggling to compete as America’s shale revolution cuts US natural gas prices by 80pc.

“I am in favour of a green agenda, but we can’t be religious about this. We need a new energy policy. We have to stop pretending, because we can’t sacrifice Europe’s industry for climate goals that are not realistic, and are not being enforced worldwide,” he told The Daily Telegraphduring the Ambrosetti forum of global policy-makers at Lake Como.

“The loss of competitiveness is frightening,” said Paulo Savona, head of Italy’s Fondo Interbancario. “When people choose whether to invest in Europe or the US, what they think about most is the cost of energy.”

A report by the American Chemistry Council said shale gas has given the US a “profound and sustained competitive advantage” in chemicals, plastics, and related industries. Consultants IHS also expect US chemical output to double by 2020, while Europe’s output will have fallen by a third. IHS said $250bn (£160bn) in extra US manufacturing will be added by shale in the next six years.

European president Herman Van Rompuy echoed the growing sense of alarm, calling it a top EU priority to slash energy costs. “Compared to US competitors, European industry pays today twice as much for electricity, and four times as much for gas. Our companies don’t get the rewards for being more efficient,” he said.


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6 responses to “It’s a mutual suicide pact only if we want to join

  1. Libertarian Advocate

    And the crippling effects of soaring energy costs were unforseeable? Yup, but only to Progs, Greens and the MSM. Everyone else paying any attention at all knew of the imminent freight train wreck coming down the tracks at full speed.

    So much for Ivy educations.

  2. Walt

    Dude –
    When was the last time you bought anything manufactured in Europe? It’s not only energy, it is their Socialist, Unionized society that our Loser in Chief so admires, that is killing them as well. They are toast.

    What do the Frogs make? Cheese, which really sucks, wine, no better than California, and MIMES!! THAT’S IT. So they suck. The Brits? What do we buy from them? I can’t even think of anything. The Jaguar auto? A niche car targeted at gay men. NTTAWWT. They haven’t sent us anything good since the Beatles.

    Germany? The VW is passé now. They make skunk beer. So they contribute nothing. Who else? The Pollacks? ZIPPO!! Italy? A few sports cars aimed at the penis deprived, and that’s it!! The Greeks? A few women with unibrows and hairy arms. And they are broke already!!

    The gooks make everything we buy now. All the electronics, and clothes, and even the sex toys that you are so addicted to. AND THEY BURN COAL!! And have no Unions!!

    So forget about Europe. They are all in worse shape than the Brits teeth.
    Your Pal,

  3. Reader

    Energy is becoming a luxury in Germany. Costs in Germany have doubled since 2000. People are having trouble paying their bills.

  4. AJ

    Now with global cooling, they’re going to get hit even harder. Obama’s Syria plan will be the coup de grâce with oil prices going through the roof.

  5. Anonymous

    reverting back and getting off this topic…the following is, I believe a decent perspective on the dynamic between putin and obama…

  6. Fred2

    Our companies don’t get the rewards for being more efficient,” he said.

    and forgot to add “because the government’s rapacious taxes suck all the advantage away” because in the end it’s NOT the cost of energy really, there are local variations before “cost before taxes” but it’s the taxes on top that drive the costs to be

    And taxes and regulations are in this instance basically interchangeable concepts.