January 28, 2020

EU Energy Policy and Biofuels

In a Congressional Research Service (CRS) report from earlier this year (“The European Union’s Energy Security Challenges”- Jan. 30, 2008), Paul Belkin stated that, “Recent increases in energy prices and a steady escalation in global energy demand — expected to rise by nearly 60% over the next 20 years — have led U.S. policy-makers to engage in a wide ranging debate over how best to address the country’s future energy requirements. Similarly, energy security has become a policy priority for the European Union (EU) and its 27 member states. The EU imports about 50% of its energy needs. Barring significant changes, the European Commission expects this figure to rise to 65% by 2030. About half of the EU’s natural gas imports and 30% of its imported oil come from Russia. Europe’s growing dependence on Russian energy, and long-term energy agreements between Russian firms and some European governments have fueled speculation that Moscow is using the ‘energy weapon’ to try to influence European foreign and economic policy.