High energy costs endanger European industry ‘s competitiveness

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On 25 September 2013 European Commission draw Europe ‘s attention to the recession of industry competitiveness towards our USA “economy rivals” due to high energy costs.

According to the 2013 report on industrial competitiveness economic output generated by european Union industry has fallen to 15.1% of GDP from15.5% last year, whereas Europe aims to reach 20% by 2020.

European Commission is preparing a policy document proposing measures to enhance industry competitiveness. A summit on industry issues is about to be held on February 2013, as well.

“The Commission has taken several initiatives to address high energy prices, difficult access to credit, drop in investments, lacking skills, and red tape. And we will come forward later this autumn with an industrial initiative to go further and boost action in this field,” Tajani said, announcing fresh proposals “in the next few weeks”.

US is going through a re-industrialisation period because of the shale gas revolution, which has permitted american industries to have access to cheap energy. Europe cannot adopt the same policy for environmental, land ownership and geology reasons.

Natural gas prices are 4 times higher in Europe than in the US but that could possibly change in US increased its exports.

It seems that energy efficiency is a solution but Europe encounters difficulties in reaching its 2020 targets. Next step towards the same direction for Europe is a green vehicles initiative plan with an anticipated budget of 700 € million from the beginning of the 2014.

 

 

 

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