Merkel's switch to renewables: Rising energy prices endanger German industry
There is no sign yet of the green economic miracle that the federal government promised would accompany Germany's new energy strategy. On the contrary, many manufacturers of wind turbines and solar panels complain that business is bad and are cutting jobs. Some solar companies have already gone out of business. The environmental sector faces a number of problems, especially -- and ironically -- those stemming from high energy prices.
February 24, 2012
by Frank Dohmen and Alexander Neubacher
in Spiegel Online
Last spring, Chancellor Angela Merkel set Germany on course to eliminate nuclear power in favor of renewable energy sources. Now, though, several industries are suffering as electricity prices rapidly rise. Many companies are having to close factories or move abroad.
The red signs are still hanging in front of the gate to the steel mill on Oberschlesienstrasse. "Hands off!" they read, or "The Krefeld steel mill must stay!"
But now it's all over. Despite the signs, protests and pickets, ThyssenKrupp, Germany's largest steelmaker, sold its Krefeld stainless steel mill to Finnish competitor Outukumpu two weeks ago. The new owner plans to... [continue via Web link]