US is "big winner" from Europe's energy crisis

As geopolitical tensions and sanctions against Russia drive up energy prices in Europe, a number of European manufacturers are being tempted by the relative stability of the United States, reports The Wall Street Journal.

The sharp rise in gas prices in Europe is forcing local producers to think about moving their capacities to the United States, where energy prices are more stable. This is especially true for energy intensive firms who tend to use natural gas for intense heating to make their products, for example, fertilizers used by farmers and agricultural firms.

It is noted that many European executives from the industry expect that politicians will be able to figure out some sort of solution. This could be creating a broader based source of natural gas for Europe, or incentivizing the industry to invest heavily in renewable energy "at a rate at which they haven't yet."