Expensive energy is one big problem European manufacturers have. But Europe has already shown that they will slap Border Adjustment Taxes on everything imported to give them a hand. That said, although I support those taxes in principle, they are not to be considered a broadsword solving every issue. Europe’s problem is not only expensive energy. It also has a massive generational problem as it runs out of capable people. Plus it is mired in feel-good policies and a thicket of subsidies that makes any honest entrepreneur throw up in disgust. Plenty to fix.
Industrial energy costs are soaring in the wake of Russia’s war on Ukraine, hobbling European manufacturers’ ability to compete in the global marketplace.