European Green Energy Crisis is Crushing Metal, Silicon Production

A quadrupling of EU energy prices is crippling energy intensive industries, but the EU sees this as a reason to invest in more renewables. European silicon output shrinking, metal smelters closing as electricity prices quadruple, trade body warns. Silicon provider Elkem, headquartered in Norway, also noted [PDF] that silicon prices in Europe reached all-time highs in October and November. That was partially driven by market factors including prices of silicon going up in China and a potential power crisis in Brazil, where the company has production facilities. Thanks to renewable energy fanatics like Ursula von der Leyen, the EU has turned its back on fracking and developing meaningful domestic energy supplies in favour of fantasy renewable energy schemes. European import prices are still sky high compared to US wholesale gas prices. The European energy crisis could spread to the USA. The EU could also have avoided this crisis by being less greedy, and pre-ordering enough gas from Russia at an affordable price to cover their domestic needs when the price was low.