Very high energy costs are forcing European companies to cheaper places like the U.S. The Inflation Reduction Act could benefit chemicals, batteries and clean energy industries. Industries such as manufacturing and fertilizer production are especially vulnerable to high energy prices. Soaring energy costs in Europe are shutting down businesses and threatening a bloc-wide recession. Yet not everyone accepts this fate. Some companies are moving to cheaper locations: the U.S. Steel giant ArcelorMittal said earlier this month that it would slash by half production at a steel mill in Germany and a unit at another plant, also in Germany. The company said it had based the decision on high gas prices. Separately, ArcelorMittal more recently warned it expected its steel output for the fourth quarter of the year to be 1.5 million tons lower than it was in the final quarter of 2023, again citing excessive prices along with slumping […]