**Brussels’ Climate Policy: A Poverty Engine Draining Europe’s Industrial Base**
*By Thomas Kolbe | November 8, 2025 | American Thinker*
The roadmap is already set: in the coming years, the European Union and its member states will make both businesses and consumers pay even more for CO₂ emissions. Markus Kamieth, CEO of BASF—the world’s largest chemical company—warns of the enormous destructive potential of this policy.
“Truth comes on pigeon feet,” Friedrich Nietzsche once wrote. This adage seems apt for European climate policy as well: slowly but inevitably, the reality of the true costs of the green transformation and its impact on Germany’s industrial foundation is becoming clear.
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### BASF’s Struggles Highlight Industry Woes
On October 29, BASF’s CEO Markus Kamieth addressed the press during the company’s quarterly results presentation. What he announced was another cold shower for anyone still hoping for a new economic miracle.
BASF reported a 3% decline in revenue in Q3 2025 compared to last year, while EBITDA fell by 5%. The company is under massive pressure and has already cut 1,400 jobs to reduce costs.
These disappointing numbers come despite a slowly recovering global economy. The U.S. economy is growing nearly 4%, driving strong demand, and China and India continue to expand dynamically—especially in sectors critical to the chemical industry.
Yet, while the global economy gains momentum, BASF, like much of Germany’s chemical sector and broader industry, continues to lose ground. The company’s main site in Ludwigshafen has been hit hardest, leaving its 33,000 employees facing an uncertain future.
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### Criticism of EU Climate Policy
During the presentation, Kamieth was unusually outspoken. Besides criticizing EU trade policies and rising energy costs in Germany, he struck at a seldom-discussed but crucial issue: the EU’s climate policy.
Kamieth did not mince words about the climate agenda’s detrimental effects on Germany’s industrial competitiveness and economic stability.
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As Europe moves forward with increasingly stringent climate targets, the question remains—at what cost to its industrial base and the livelihoods of millions?
*Read the full article at [americanthinker.com](https://www.americanthinker.com).*
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**Topics:** Business/Economy, Society
**Keywords:** Leftism
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