RENT-SEEKERS GOTTA SEEK RENTS: German carmakers fear losing competitive edge after U.S. Paris exit.

“The regrettable announcement by the USA makes it inevitable that Europe must facilitate a cost efficient and economically feasible climate policy to remain internationally competitive,” Matthias Wissmann, president of the German auto industry lobby group VDA, said in a statement on Friday.

“The preservation of our competitive position is the precondition for successful climate protection. This correlation is often underestimated,” Wissmann said, adding that the decision by the Unites States was disappointing.

The VDA said electricity and energy prices are already higher in Germany than in the United States, putting Germany at a disadvantage.

Now we know what the Paris Accords were really about — hampering U.S. industries to make Europe’s more competitive.