Oil’s Absence From EU Security Strategy Leaves Europe Dependent on Despots, o protect consumers from energy price rises
have doubled since April 2021, hitting $125 a barrel , putting unprecedented pressure on European households. T&E recommends that the strategy includes measures to prepare for oil market disruption including plans to reduce oil demand right now — e.g. through home working, speed limits and car free days — as well as redirecting recovery package funds and other measures to make electric vehicles accessible to low and middle income families and businesses.
On gas T&E also warned that the Commission should immediately withdraw its proposal to label gas as “green” in the European Sustainable Finance Taxonomy, arguing this only makes the EU more dependent on fossil fuels and Russian gas in particular. Instead, the EU must radically and immediately accelerate the build out of wind and solar power and to accelerate energy efficiency measures, in particular renovation of buildings, which also tackles energy poverty.
William Todts concluded: “The European Commission still hasn’t withdrawn its proposal to classify gas as green in its list of sustainable investments. This is embarrassing. Europe can’t credibly say it wants to exit Russian gas, and at the same time designate it the green fuel of the future.”
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