European commission warns of a protracted energy crisis

On March 31, an extraordinary meeting of the 27 EU energy ministers was held to discuss the crisis triggered by the U.S. and Israel’s war against Iran, Politico reports.

Energy Commissioner Dan Jørgensen compared the current situation to the early days of the coronavirus pandemic and warned that Europe is facing a very serious situation with no end in sight.

“Even if peace comes tomorrow, we still won’t return to normal life in the foreseeable future. The more you can do to conserve oil, especially diesel and jet fuel, the better for us,” he said.

The official urged member states to follow the recommendations of the International Energy Agency, which include working from home where possible, reducing the speed limit on highways by 10 kilometers per hour, encouraging the use of public transportation, and carpooling.

In the long term, Brussels insists on accelerating the development of renewable energy sources.

“This should be the time when we finally turn the tide and become truly energy-independent,” Jorgensen stated.

The ministers’ talks concluded without any concrete decisions, but the European Commission is expected to announce a package of EU-wide measures soon.

The global economic consequences of this crisis could exceed those of the 1970s oil shock and rival the impact of the Covid-19 pandemic.

Photo: afk.kz.