3 months ago
- Europe's energy crisis is hitting countries unevenly, with some diversifying energy sources while others face high costs and deindustrialization.
- The EU's gas supply is now heavily concentrated on the USA and Norway, reversing diversification goals and increasing vulnerability to supply shocks.
- Industrial energy costs in Europe are significantly higher than in the US and China, with Germany paying a premium that undermines competitiveness.
- European chemical and refining capacity is shrinking, especially in Germany, the UK, and Italy, as production shifts to the US, Middle East, and Asia.
- France and other countries investing in nuclear power are securing cheaper, stable energy, while Germany's phase-out exacerbates industrial decline.