The New York Times, 25 October 2014
“We shift investment money from Europe into the U.S. as a consequence of the less competitive environment in Europe,” Harald Schwager, a senior member of BASF’s executive board, said in an interview. “Many European companies which are energy-intensive are finding out that the benefits of shifting investment from Europe to the U.S. are significant.”
California has been following the EU’s shift to alternative energy, and as a result the cost of energy is soaring and becoming less reliable, just like it is in Europe. The consequences in the EU is to shift investments to lower cost energy states in the US. California is not one of those states.
California’s political leaders have been promoting the European “going green” example for years. Now the consequences of going green are becoming clear, energy intensive companies are leave the EU. Will California’s energy intensive companies follow the EU example and move to lower cost energy states, joining the in a green suicide? Clearly the answer is yes.