US EditionEU says 'necessary' to reduce fuel demand to cope with energy crisis
EU energy chief Dan Jorgensen said demand cuts are needed as the conflict has added 14 billion euros to the bloc’s fuel import bill.
- On Tuesday, The European Commission energy commissioner Dan Jorgensen urged member states to reduce domestic fuel demand, warning of potentially prolonged effects of the Middle East war on energy prices.
- The Iran war has halted activity in the vital Hormuz strait, where Jorgensen said "energy infrastructure in the region has been ruined," creating long-term supply disruptions.
- Europe's fossil fuel import bill surged by $16 billion in just over a month, while countries coordinated with the International Energy Agency to release about 400 million barrels of strategic reserves.
- Jorgensen called on governments to consider measures like encouraging remote work and public transport, as countries from Spain to Croatia already implement tax reductions and fuel price caps.
- Governments must prepare for a "potentially prolonged disruption of international energy trade," prompting Jorgensen to urge further coordination to optimize demand and supply balances for a longer period.
20 Articles
20 Articles
EU says ’necessary’ to reduce fuel demand to cope with crisis
The EU urged member states Tuesday to try to push down domestic demand for fuel and prepare to secure oil supplies, warning of potentially prolonged effects of the Middle East war on energy prices. US-Israeli attacks on Iran and Tehran's retaliatory strikes have roiled markets and triggered a surge in energy prices. "It is clear that the more you can do to save oil, especially diesel, especially jet fuel, the better we are off," EU energy commis…
The International Energy Agency (IEA) has already warned last week that the world is on the verge of facing the biggest energy crisis since the 1970s as a result of the bombing of Iran by the United States and Israel and the closure of the Strait of Ormuz, which prevents the normal flow of oil.
On Tuesday, the European Commission urged Member States to reduce energy demand, especially in petroleum products, and warned that the impact of the ...
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