EU Ministers Race to Shield Industry From an Escalating Energy Shock

The European Union is in a rush to find ways to alleviate the energy cost pain for consumers and businesses, with energy ministers of member states set to meet later today to discuss options. These, according to Reuters, include boosting the supply of carbon permits to reduce their price, state support for industrial energy consumers, and tax cuts. The reportedly discussed options suggest European leaders are making a rare move to prioritize energy affordability over emission reduction. The option with greater availability of carbon permits is…