European energy companies have apparently racked up $1.7 trillion in debt in recent years. In the USA during the fracking boom, almost every company I followed was in chronic debt. The nuclear power industry in the US and France operates at a loss. The French nuclear industry is heavily in debt and is being nationalized.
Those industries require a lot of expensive equipment and infrastructure to operate. Apparently none of it really pays off. This is a novel situation that doesn't make a lot of sense. The debts are basically a type of subsidy.
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