More nuggets of which our Senate Energy Committee sages should not be deprived but – by stacking the panel to receive counsel solely of the variety offered by surgeons for ill-fated astronaut Steve Austin, as opposed to substantive dissent (does anyone see a pattern emerging in this “debate”?) – nonetheless will, unless of course they are Planet Gore readers:

“Arcelor Mittal, the world’s largest steel company with 135,000 workers in Europe, is among several companies that are sending out distress signals two years after the EU began capping carbon dioxide emissions from 10,000 factories and power plants.
Tougher EU policies to cap emissions ‘could threaten two of our plants’ because they would significantly raise costs, Wurth said during a recent interview. Instead of battling pollution, he argued, the measures were encouraging ‘less production in Europe and more imports from places with fewer environmental regulations’ — a result that Wurth deemed ‘absolutely ridiculous’.” IHT January 7, 2007
“For other industries, the main concern is the higher cost of electricity, which was exacerbated by the introduction of emissions trading. The Norwegian company Hydro has closed two aluminum units in Germany since 2005 because of high power costs, in part citing tough environmental laws in Europe. A Norsk Hydro spokesman, Thomas Knutzen, said his industry would make new investments mainly in countries that ‘do not have obligations to reduce their CO2 emissions through Kyoto.’ In the case of Arcelor Mittal, Wurth said the combination of high electricity prices and the prospect of buying carbon allowances could lead to partial plant closures in France.” –IHT, January 7, 2007
“The emerging large increases in electricity prices and their potential impacts on international competitiveness are a major concern for energy-intensive industries. A full analysis of the impacts of the ETS and appropriate improvements is critically needed.” Statement by UNICE, the Union of Industrial and Employers Confederation of Europe, representing employers of over 20 million in 33 European countries [the largest EU employer group], –November 2005
“The rising costs of reducing carbon dioxide emissions by smokestack industries may trigger a shift in major investments in such sectors from Europe to countries where carbon controls are less strict, analysts said. ‘In the future, European companies may decide to make big investments abroad, say in Brazil, because Europe is too expensive,’ Michael Grubb, chief economist at the Carbon Trust, a UK thinktank [sic], told a European power conference last week. ‘There is an option of driving energy-intensive industries out of Europe’.” — Reuters, 13 June 2006
Many energy-intensive companies face the dilemma whether to pay the excessive costs of complying with Kyoto, or redirect investments to other countries, as has Acernox, the world’s second-largest stainless steel manufacturer (sending its growth to the U.S. and South Africa). CEO Victoriano Muñoz repeatedly warns of Kyoto creating a “very grave” situation for Spanish industry, “forc[ing] us into a second industrial restructuring.” In his opinion, “Kyoto is one of the biggest problems Spain will have to deal with in the coming years.”

See also “Three Spanish companies closed down for violating Kyoto Protocol,” Spain Herald, August 9, 2005.