EU nations seek energy alternatives after spending over $113 billion extra since Iran war began
EU ministers say the bloc has paid more than €100 billion extra for fossil fuel imports and will speed clean-energy investments.
- European Union energy ministers gathered in Dublin to address soaring costs, as member nations have spent over 100 billion euros on energy imports since the outbreak of the Iran war.
- Following the closure of the Strait of Hormuz, consumers in some European countries pay nearly 50% more at the pump, equivalent to more than $11 a gallon, disrupting global oil supplies.
- Republicans in key states have called for a ban on diesel exports, casting doubt on President Donald Trump's 2025 deal to sell $750 billion worth of energy to Europe, which relies on imports for about 50% of its diesel supply.
- European Union energy commissioner Dan sent "a very clear signal" to authorities to scrap the ban while urging European ministers to replace imported fossil fuels with homegrown energy sources.
- Finnish environment minister Sari Multala pointed to her country as an energy independence model, where nuclear reactors, turbines, peat bogs, and hydropower dams provide 95% of Finland's electricity at "very reasonable prices.
361 Articles
361 Articles
The European Union could face its worst winter since the 2022 energy crisis as December approaches.
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EU Energy Commissioner: Bloc Paid Over €100 Billion Extra Without Additional Fuel
European Union Energy Commissioner Dan Jorgensen said the bloc has paid more than €100 billion ($113 billion) extra for energy this year without receiving one additional molecule of gas or oil. He made the remarks on Tuesday, Sept. 29, ahead of an informal meeting of EU energy ministers in Ireland's capital Dublin. Jorgensen said the figure illustrates the direct cost of the bloc's reliance on imported fossil fuels. The commissioner's remarks ca…
Gas prices over 100 euros, the litre of diesel by three euros. The scenarios for a renewed energy price crisis in Europe are gloomy. And again (almost) everything depends on Donald Trump.
The European Union's gas storage facilities are not full enough, but demand is increasing. The EU Energy Commissioner calls for energy saving because of possible bottlenecks.
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