WE NEED YOUR HELP!
Please donate to keep ReaderRant online to serve political discussion and its members. (Blue Ridge Photography pays the bills for RR).
Company News News Wire Aug 19, 2022 Germany Risks a Factory Exodus as Energy Prices Bite Hard Todd Gillespie, Stefan Nicola and Monica Raymunt, Bloomberg News
The Evonik Industries AG chemical park in Marl, Germany, on Dec. 3, 2019. The Evonik Industries AG chemical park in Marl, Germany, on Dec. 3, 2019. , Bloomberg (Bloomberg) -- Europe’s industrial heartland faces a potential exodus as manufacturers of German car parts, chemicals and steel struggle to absorb power prices that rocket to new highs almost every day. Power and gas prices in Germany more than doubled in just two months, with year-ahead electricity -- a benchmark for the continent -- soaring to 570 euros ($573) per megawatt hour. Two years ago, it was 40 euros“
Well.. the purpose of NATO used to be keeping the Americans in the Russians out and Germany down so mission accomplished, I guess.
The cynic in me asks ‘who benefits’ beyond the neocons playing their war games with maps of the world (and always losing, btw). It’s not like the US is going to be able to step in and replace these manufacturers in all cases. We’ve lost that institutional ability to a large extent thanks to neoliberalisms offshoring. Something Germany had been largely successful in resisting, up till now.
Good thing we have China acting as backstop for any future loss of manufacturing capacity that’s currently supplied by the EU. Don’t worry everybody, Neocons got this.
