Davos Enthusiasts Deindustrialize Europe – WSJ

Political, service and security leaders collect in Davos next week under the mantra of “ restoring trust” Secret subjects consist of security cooperation, expert system, energy security and task development “ for a New Period” Undoubtedly there will likewise be calls to phase out nonrenewable fuel sources and goals for a hydrogen-based green economy. In the middle of this grand preparation for the markets of 2050, leaders likely will pay little attention to how federal government pressure to reach this utopian vision is damaging the markets that made Europe the envy of the world.

Over the previous 2 years, lots of energy-intensive makers of our the majority of raw materials– chemicals, steel, ceramics, glass and fertilizers– have actually stopped or slowed production in Europe. As the leader of a U.S.-headquartered chemical business that as soon as had more than 50% of its earnings and workers in Europe, I have actually experienced this devolution firsthand.

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