/biz/ - Business & Finance

>Energy-intensive industries are shutting their European factories.
>European commodity producers and manufacturers are reeling from high energy prices, thanks in large part to the Ukraine crisis. Europe's industrial energy costs have skyrocketed in the wake of Russia's war on Ukraine, severely denting manufacturers' ability to compete in the global marketplace, with natural gas three times more expensive in Europe than in the U.S.
>In fact, the situation has grown so bleak that energy-intensive industries such as steel, chemical, and fertilizer manufacturing are shutting their European factories amid soaring oil and gas costs as well as growing concerns that Russia may cut off its supply.
https://oilprice.com/Energy/Energy-General/Energy-Crisis-Hits-European-Factories-Where-It-Hurts.html

How fucked is Europe?

Good morning, biz

>europeans wake up
>crypto starts dumping
Every. Single. Time.