http://www.enerjitr.com/subsidies-to-renewables-could-push-eu-companies-to-us-says-iea

The International Energy Agency (IEA) joined mounting concerns about European gas prices, suggesting Brussels to take action to minimize backlashes on energy-intensive industries.

"These industries are critical for the European economy as they employ over 30 million people and it could have a major knock-on effect on the EU economy," the IEA's Fatih Birol told Reuters during the World Economic Forum.

IEA's chief economist asked the EU to boost shale gas output and cut green subsidies. Birol said that unconventional hydrocarbon can help European countries to successfully renegotiate gas contracts, two-third of which will expire in the next decade.

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The International Energy Agency suggested that the price structure could push many energy-intensive companies out of Europe, which could reap benefits from a relocation in the United States. As suggested by industry players several times, European gas prices are around three times higher than those in the United States.