German Energy Reprieve Too Little, Too Late to Save Factory Jobs
Recent energy-price drop helped avert rationing, blackouts. Almost half of chemical firms plan investment cuts in Germany
(Bloomberg) With gas prices down from record highs, Germany has seen a surge of optimism that the worst of the energy crisis has passed. But for the country’s biggest industrial producers, the long-term picture remains dismal.
Companies including BASF SE, Dow Inc. and Lanxess AG are poised to cut thousands of jobs and shift investment out of Germany because they don’t expect Berlin to reliably provide the energy they need at prices close to those they once paid for Russian pipeline gas. ---More...
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