European Energy Strategy
We live in an era of energy uncertainty. The days of cheap and abundantly available energy are over.
Intensified competition for energy is pushing up prices and leading to periodic crises. Europe’s dependency on imported fossil fuel has become a threat to its own economic stability. Today, it already imports 50% of its energy needs and this share is likely to increase further unless Europe changes direction. Therefore it is vitally important that we develop internal renewable energy resources to the maximum extent possible.
Europe is the world leader in renewable energy and has both a competitive and comparative advantage in the most promising renewable technologies. On 9 March 2007, the EU Heads of State have decided to adopt a binding 20% target for renewable energies by 2020.
