20
May
2026
Watch
Reviewing the ETS system to support European competitiveness (topical debate)
Mr President, nobody in the European Union has any idea what energy actually costs, because the world price has been replaced by unaffordable energy taxes, by CO2 ‑ levies, by transitional coercion. But without clear prices determined by supply and demand, companies no longer know what energy can really cost, what is scarce and what they should invest in wisely. In 1974, Friedrich von Hayek was awarded the Nobel Prize for Economics for demonstrating that central planning destroys the knowledge that is only expressed in free prizes. Without this price information, rational economic decisions are impossible. A million jobs have already been lost in the industry. Now that companies can no longer compete, there will be subsidies to combat the effects of the levies. That aggravates the problem and pushes us faster towards the ravine. The European Union is playing out and the world is shaking its head.