U.S. climate subsidies unsettle Europe's green industry plans

By Sebastien ASH

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There are a lot of good things that can be said about Europe, but on this subject, instead of criticizing the USA, Europeans should be doing more than they already are to go green. Instead of criticizing the US for promoting domestic green industries, they should do the same for themselves.

Likewise on the subject of defense spending. For decade after decade, every American president was telling Europeans that they should be spending more to be prepared to protect themselves, but did they listen? Not until Putin's invasion of Ukraine drove home the reality that they have got to be equipped to fight for their freedoms and well being. Expecting America to do all the work is not fair or realistic.

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The fossil fuel sector banked record profits courtesy of Western sanctions. Now other companies can play the US and EU off against each other for freebies at the expense of the taxpayer.

Eventually, governments will be paying more per job than they will receive back in taxes, effectively running a welfare state for rich corporates.

Nissan have already made it clear that the UK is too much of an economic mess, post-Brexit, to build EVs in, and will be wanting extra cash. BritishVolt, a UK battery maker, went under before it really got going, and will be rescued by foreign cash. I expect they will be wanting freebies too.

Nationalist manufacturing isn't cheap. If you want multinationals to operate on your turf, you have to pay them serious cash.

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