European Execs Seek Energy Policy Reform

Chief executives from 14 of Europe’s largest chemical and other energy-intensive companies have written a letter to European Commission President José Manuel Barroso calling for the European Union to overhaul the region’s energy and climate policies so that energy-intensive industries remain competitive. The CEOs claim it is unfair that they are carrying the cost of lowering the carbon output of the manufacturing base through charges for greenhouse gas emissions and levies to fund renewable energy. They also call on Barroso to enable them to exploit natural gas from shale. The 14 CEOs, from firms including BASF and Solvay, made their statement as the EU proposed policies for the region that would achieve by 2030 a 40% reduction in greenhouse gas emissions from the levels in 1990.