While the world’s attention is on Ukraine, and on climate change, Europe is deindustrialising at a worrying rate. This is a big problem. Europe might not have great technology companies, fancy services companies, or raw materials. But it has always been good at industry. Even as other rich countries’ industries moved abroad, Europe (particularly Germany) managed to keep hold of theirs by moving up the value chain. So what’s happening? Industry needs lots of energy. The energy must be cheap, dependable and capable of generating a lot of heat. Industry needs heat because lots of industrial processes rely on intense heat…

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