Mario Loyola writes in The Hill about Europe’s high electricity prices.
- The European Commission has found that industrial output and capital goods production in the Euro area has fallen by 5.8% and 8.7%, respectively, in the last year due in large part to high energy prices.
- High electricity prices in the EU will likely accelerate in the wake of the Biden administration’s decision to halt LNG exports.
- The U.S. must learn from Europe’s mistakes and pursue a market-driven “all of the above” energy strategy to keep costs low and continue our emissions reductions.
“U.S. policymakers should heed warnings from Europe, and embrace a policy of making American electricity once again the most reliable and affordable on Earth.”
Read the full article here.