Europe's Energy Revolution: Opportunities and constraints
Sixty years since its members first started co-operating on energy, the European Union still lacks a common energy policy and a single European market, said Philip Lowe, Director General for Energy at the European Commission. Yet these two elements are needed more than ever in the face of increasing dependence on oil and gas imports and the need to introduce more renewable energy capacity. The lack of progress on the single market internally is matched by a lack of coherence in external energy policy, Lowe added. Yet this coherence is sorely needed in a world where many of the energy challenges that the EU faces will be dictated by developments outside Europe, said International Energy Agency’s Chief Economist Dr. Fatih Birol. “The age of cheap oil is over,” he asserted.
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