Front page of today’s WSJ:
“Europe’s energy crisis has left few businesses untouched, from steel and aluminum to cars, glass, ceramics, sugar and toilet-paper makers. Some industries, such as the energy-intensive metals sector, are shutting factories that analysts and executives say might never reopen, imperiling thousands of jobs. The question is whether the current pain is temporary, or marks the start of a new era of deindustrialization in Europe. The bloc has scoured the world for alternative gas supplies, striking deals to buy gas from the U.S., Qatar and elsewhere. But the continent might never again have access to the cheap Russian gas that helped it compete with the resource-rich U.S. and offset high labor costs, rigid employment rules and stringent environmental regulations.”
https://www.wsj.com/articles/europe-manufacturers-factories-…