france the aims to take the lead and floating offshore wind energy. but there are challenges beyond the surface and massive layoffs in the u. s. tech sector are hitting one demographic in the country, particularly hard indian tech workers visit the w business. i'm janelle dumas on. welcome european union. energy ministers are in brussels to day where tense discussions are expected. the contentious issue at the center of these negotiations is a whole sale price cap on gas. the european commission has proposed cap being the guys, the gas price. if it hits $275.00 euros per megawatt hour for 2 consecutive weeks, and if the difference between that and the world price of liquefied natural gas is equal to or greater than $50.00 euro's, the measure is aimed at protecting consumers from wild be fluctuating gas prices

are correspondent, and brothels has more apparent rieger, thanks for being here. parent, i have to say, this isn't terribly straightforward. so help us out here. how is this guy's gas price cap, mantell, consumers, consumers and also businesses would only benefit indirectly from this gas price cap because it would protect gas supply companies that are buying gas at the spot market in the netherlands of from spiraling gas prices are extreme spikes. and gas prices, so that's by many countries in the you are calling for a more strict gas price kept on hold. so prices that would keep prices lower and some countries already have a price kept for consumer prices in place so that consumers actually pay less every months. but then this is very costly because the states that have to pay the

difference between the consumer price and the wholesale price. so it's a very complicated discussions and some countries said this proposal on the table is utter nonsense and will will not work. and other come countries argue no, any prize kept that is more severe, would restrict supply than the renders of gas, would just turn away from europe and sell their gas some elsewhere. yes, now we've been talking earlier about how specific this proposal actually is. it's been criticizes, criticize for being designed. you never actually care again. that's why some of the critics are saying, is that justified? well, this pres, cap or the this mechanism to, to cut excessive prices comes with a lot of conditions. and if you look at it, it wouldn't, it would have never been applied this year because the price in august was like $340.00 euros, but only for

a couple of days. and the price kept would only kick in after $14.00 days of excessive prices. and as it stands now, the, the gas prices at 125 years right now, and the cap would be a $275.00. so there's a huge gap here. and many countries argue this will never be applied. so what's the purpose of it? indeed, thank you, van triggered they're speaking to us from dw brussels. now, as they've seen russia's war in ukraine has made european energy a top priority of emergency policy making. what countries on the continent more determined than ever to diversify supply france, although mostly relying on nuclear energy aides, to take the lead and the area of loading offshore wind power. now that's a promising source, but there are quite a few hurdles to overcome. mila was having this big basket. a recent press chip to this construction site displayed what could be one solution to future

energy crises, floating offshore wind energy. the company's developing this pilot project are investing 300000000 euros in 2023. the wind farm will be towed to the site. 17 kilometers off the coast. will m. lamar? it's powers limited equal to just a 40th of a nuclear reactors capacity called but floating offshore wind energy is a bearer of hope. unlike existing renewables, it could produce electricity, 247 them failure on their traditional offshore wind. farms can only be constructed in waters that are up to 50 meters deep. the floating platforms can be installed further away from the coast where the wind is stronger. these wind farms could be key to reaching carbon neutrality. francis taking bids to construct 3 commercial floating offshore wind farms and their 10 times the size of the pilot project. this

economist agrees floating offshore wind energy is promising. yet questions and challenges abound. lonely early that france should try to take the lead in this market. it's lagging behind regarding bottom fixed offshore. wind farms. also due to legal challenges. it's a question of not losing face, but it's not clear yet which technology will when the day. there are several technical solutions in the market, and a lot of steel is needed to construct the platforms. finding that steel might prove a bottleneck material. france will have to compete with other countries such as portugal and scotland, which are also eyeing floating offshore wind energy. in any case, the project developers are determined to become an important player in the market here, or broad across april yellow with france as well position bidding for commercial

projects is underway. we are hoping to be awarded these industrial projects in the mediterranean sea and of brittany, but we are also looking at markets such as the us, china and taiwan. the you, why? the global potential for this technology is estimated at 3500 gigawatts, which represents as many nuclear reactors. but that won't be any time soon. frances 1st commercial floating offshore wind farms won't produce electricity until at least 2030 now to some of the other global business stories making news. a german port is getting its 1st ship specialize in liquefied natural gas. the floating storage and re gamification unit known as neptune arrived on an island port in north eastern germany. it's part of german efforts to offset russian gas, which was shut off following the russian invasion of ukraine. paris is challenging

london's lead as the home to europe's biggest stock market. according to latest numbers, the market value of all the companies listed in the french capital has increased by nearly 60 percent since 2016 at $2.00 trillion dollars. it's closing in on the value of london shares at $2.00 trillion dollars. the european parliament has adopted a budget for 2023. the nearly 187000000000 euro package includes new funding for tackling the consequences of the war in crane. renewable energy and recovery from the pandemic can it's been a rough few weeks for attack worldwide. more than 100. $20000.00 tech workers have lost their jobs as a result of cut backs by west tech companies. november alone accounts for about 42000 layoffs. indian workers in the us tax sector are being disproportionately

hard hit. many indians working in the tech sector in the u. r. foreign. what are known as h one, b visas, according to data from us immigration services. amazon left a mat, our sales force stripe and twitter have a sponsored at least 45000 each one b bircher as in the past 3 years. but after some of the top ranking tech companies increase their head count by more than 80 percent between 20192021, the sector is now correcting that optimistic hiring spree to reflect falling revenues. i asked her a deli correspondent, charo katie, k r for an assessment on the impact of these lay offs. well, are there really where janelle, and are they are, are unfolding even as we speak, according to some reports, as many as 25000 or workers have been laid off in the us,

in various tech companies just this month. and according to another report, or this year, more than 122 with more than 120000 arctic workers helping leaders worldwide. but these are all u. s. beast tick companies. now are these layoffs are affecting people from all nationalities, including americans. but then as reports of as adjusting for years that are foreign workers are a big part oster dec industry in the u worse, and indians a form of a big chunk off for now these foreign workers will work for the american tech companies. and most of them are on tim to the visas, which are called each one b visa. so yeah, it's a big problem as of now, janelle, so to what degree are indians in the united states tech industry getting affected by this development? whenever indians are getting affected in a big way, or because of indians form a large part of the silicon valley and they reside there in big numbers. in fact,

a lot of a usb stick companies are led by indian c years, but that's as far as the top rung is concerned. there are many, many in indians who are working at various levels in various tech companies and in tech roles engineers. specifically, even in sales and other kind of roles now are many of them have been reporting on social media over the last few weeks that are of people in senior roles who were and not at all expecting to be lead. asti, have been leaders, and now they are facing the prospect of coming back home, which is also problematic because of 2 reasons. one, because many indians have a huge educational launch to be off because a u. s. education is very expensive or with indian salaries, and they're there too, because a lot of these indians have also spent years building a life in the us. and now because of the temporary h one, b visas for the turner,

they have a timeline of about only about 60 days to arrange alternative employment prospects or her and go back home. janelle, clearly a lot of knock on effects there. but what does this mean for indians planning a career in the u. s? is it now less attractive to people they're back on? well, that would certainly seem so right now. it remains to be is ca, janelle, whether these are temporary disturbances or this is a long term thing. tag definitely seems to be going through some kind of a shake up globally. even indian tech companies have been fighting people left, right, and center this. here are, these are, have also been a problem results for indians. there are reports that are in some consulate, visa appointments, or are delayed by about 800 years for some people. and at least 100 is for many, the indian government has been talking to the u. s. government for expediting the visa a visa crisis. but then if this is something that is likely to remain in the

a long term, then a coupled with her, but then layoffs and with the churning that is going on in the tech industry, it might take on the but the shape of something long term and it might affect decision of indians to move to tech companies in the u. s. and janelle, thank gail. it terrified to care for my database videos, and i, thanks for your time at 80 and that's all for me. and the business team here in berlin for more from us, had to do w dot com slash business, or the dw, and use youtube channel. we're also on facebook at the w dot business. thank you so much for watching. with

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