Industry ravaged by exorbitant energy costs.
“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 Telegraph.
“The loss of competitiveness is frightening,” said Paulo Savona, head of Italy’s Fondo Interbancario.
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,” he said.
Thanks to Argiris Diamantis and Tony Lear for this link
“Slowly Europe is waking up,” says Argiris.
“High energy prices have risen the death toll on older people in the UK, they have to choose between eating or heating,” Argiris continues. “For the politicians that was never a reason to change their energy policy, but now industrial production is going down rapidly, that could trigger the so-called green U-turn.”
“The consequences of Environmentalism gone wrong cannot now be avoided,” says Tony.