Is Europe Benefiting From Low Energy Prices?

Energy prices in the United States will be structurally lower than energy prices in Europe. And add to that the Inflation Reduction Act, which does many things,. One of which is to create incentives for foreign firms to relocate to the U.S. The second dimension of it is this effort on the climate side actually becomes a protectionist war. It feels like a new piece that could actually be quite destructive.