Go to EU flags mediabank. File photoMOSCOW, Sep 23The US economy is the biggest beneficiary of Europe's energy crisis as high gas prices are forcing European companies to relocate their production to the States, according to an article in The Wall Street Journal. Europe,» the newspaper writes. Faced with high gas prices, European companies producing steel, fertilizers and other goods are gradually moving their operations to the US, where they are attracted by more stable energy prices and government support.
Japan warns of unimaginable crisis in Europe As fluctuating energy prices and supply chain problems threaten Europe with what some economists warn could be a new era of deindustrialization, the US government has approved a raft of measures to stimulate industrial production. «As a result, company executives say the balance is increasingly tilting in favor of the United States — especially for those companies involved in the implementation of projects for the production of chemicals, batteries and other energy-intensive products,» the publication writes. According to the chief executive of a large Norwegian enterprise According to Yara International Fertilizer Svein Tore Holseter, it may be difficult for European producers to remain competitive in the current gas prices and stimulus measures currently being offered by the US government. «As a result, some industries will irrevocably move their production to other countries,» he said. According to Ahmed El-Hoshi, chief executive of the Amsterdam-based chemical company OCI NV, «it is clear that it is necessary to move production to the United States.» Thus, OCI NV in September already announced the expansion of an ammonia plant in Texas. After Russia launched a special operation to liberate Donbass, Western countries imposed sanctions against it. This plunged Europe into an economic and energy crisis and led to higher fuel and food prices. According to European officials, the industrial output of the union states fell by 2.3 percent in July compared with the previous month. According to most experts, the region's economy will face a recession starting from the last months of this year. fca4efac898f91e66a823d5d110c9b64.jpg» />Forbes: another crisis flares up in Europe, in addition to energy
