Green Bloodbath: Major Industries Closing Down As German Energy Prices Soar

Germany’s “Blackout News” reports the destructive consequences of Germany’s soaring energy prices and unstable power supply. 

Chart: BDEW

German electricity 3 times more expensive

Firstly Blackout News reports how Germany’s electricity price is three time higher than it is in USA:

The German electricity price is three times as high as in the USA. Criticism is being voiced about Germany’s energy policy. Financial expert Jan Viebig criticizes the fact that the phase-out of coal and nuclear energy is not well coordinated with the European Union. Energy policy has three main objectives: low prices, security of supply and environmental protection with regard to CO₂ emissions. German energy policy performs poorly in all three areas (Focus: 03 November 2023).”

“Massive job cuts” at Bayer

Next the German site reports how Leverkusen-based pharmaceutical and agrochemical group Bayer plans “massive job cuts.”

Moreover:

By the end of the year, the Group intends to cut several management levels, which will lead to a significant reduction in the workforce. This step is considered necessary due to the current business performance (rp-online: 9 November 2023).”

250-year old German iron foundry files for insolvency

Another victim of Germany’s green policies is renowned iron foundry and automotive supplier Eisenwerk Hasenclever & Sohn:

Eisenwerk Hasenclever & Sohn is an important player in the foundry industry. It has long supplied well-known car manufacturers such as Audi, BMW, Daimler, Ford and Porsche. However, the company is now facing a serious crisis. Despite a proud history of 250 years, in which Hasenclever has made impressive progress and always aimed to establish itself as a leading European supplier in the industry, it has now filed for insolvency (wiwo: 7 November 2023).”

We can only speculate what happens next at this iron foundry. Will it be sold off in pieces and scattered abroad – leaving the region a rust belt?

Machine builder Homag to lay off 600

There are no optimistic economic signals in sight. Energy prices, inflation and catastrophic economic policies are rapidly sinking the German economic battleship and prosperity.

Donate – choose an amount
5101520501002505001000