"HIGH ENERGY COSTS DRIVE GERMAN FIRMS TO US." That is the headline for an article that appeared May 22 in Duetsche Welle, or DW, Germany’s international broadcasting giant.
“Soaring German energy costs in the wake of the country’s transition to renewable energy have seen more and more firms thinking about relocating their operations,” the DW story reported. “The US looks like a sound alternative, associations claim.”
The DW story continued:
German industry lobby associations on Wednesday sent a warning shot towards the government in Berlin, saying that rising energy costs in the country would drive away more and more German companies.
“If we don’t get on top of the country’s energy transition to renewables and are not able to rein in energy costs in the process, German industry’s competitiveness stands to suffer,” the chief of the Federation of German Industry (BDI), Ulrich Grillo, told the business newspaper “Handelsblatt.”
He said that while Germans are embroiled in a debate about the right energy mix, the US was getting more and more attractive as a business location for German firms, thanks not least to President Barack Obama’s support for the fracking technology resulting in much cheaper energy prices.
President Obama has pleasantly surprised many — and angered many of his allies in the Big Green lobby, i.e., the Sierra Club, the Environmental Defense Fund, et al — by his recent common-sense actions to allow hydraulic fracturing on federal public lands and approval of a Liquefied Natural Gas (LNG) terminal in Freeport, Texas. However, based on the administration’s history of antipathy to all fossil fuels, its use of the EPA to quash energy production, and its commitment to vastly expanding our nation’s reliance on renewable energy, the recent natural gas concessions could prove to be a temporary political move. If that proves to be the case, the German companies that are moving to America to escape Merkel’s unsustainable “renewable revolution” could find themselves facing the same predicament down the road here.
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