EU - WARNING OF PROLONGED ENERGY SHOCK AND FUEL RATIONING SCENARIOS - Filenews 4/4
The European Union is considering all available scenarios to address the consequences of the war in the Middle East on the energy market, including a possible rationing of fuel and the release of additional oil from strategic emergency reserves.
This warning was addressed by the EU Commissioner for Energy, Dan Jorgensen, in an interview with the Financial Times, stressing that Europe must prepare for a long-term energy shock.
As he mentioned, the crisis is expected to last, with energy prices remaining at high levels for a long time. At the same time, he warned that for some more critical products the situation may deteriorate further in the coming weeks.
Jorgensen noted that the language now used by the European institutions is clearly stricter than in the initial phase of the crisis, underlining that Brussels' assessment is that this is a protracted situation, which requires member states to ensure that they have all the necessary means to respond.
Although, as he said, the European Union is not yet in a security of supply crisis, the Commission is proceeding with the design of measures to address the structural and long-term effects of the conflict.
In this context, more difficult scenarios are also being considered, such as the imposition of a rationing on diesel or jet fuel, in preparation for the worst-case scenarios.
"Better to be prepared than to regret it," said the EU Commissioner for Energy.
