Davos Devotees Deindustrialize Europe – WSJ | Trending Viral hub

Political, business and security leaders will meet in Davos next week under the mantra of “rebuild trust.” Key themes include security cooperation, artificial intelligence, energy security and job growth.”for a new era.” There will no doubt also be calls to phase out fossil fuels and aspirations for a hydrogen-based green economy. Amid this grand planning for the industries of 2050, leaders will likely pay little attention to how government pressure to achieve this utopian vision is destroying the industries that made Europe the envy of the world.

Over the past two years, dozens of energy-intensive manufacturers of our most basic materials (chemicals, steel, ceramics, glass and fertilizers) have ceased or reduced production in Europe. As the leader of a US-based chemical company that once had more than 50% of its revenue and employees in Europe, I have witnessed this payback firsthand.