European energy challenges: climate or economy dilemma
On Friday, February 4th 2011, representatives of 27 EU member states gathered in Brussels at the first summit dedicated to the future of the European energy market. Although it’s been shadowed by the current unrest in Egypt and the Middle East, energetic topics caused fierce discussions. According to Polish suggestions, in the final declaration there is a call for further assessment of the use of unconventional fossil fuel sources such as shale gas, which Warsaw is keen to explore.
Two years ago European Commission set ambitious goals: until 2020, EU countries are supposed to have cut their greenhouse gas emissions by 20%. Simultaneously, they need to increase their energy efficiency by 20%. and guarantee, that at least 20%. of energy comes from “green” sources such as sunlight, wind or biomass. European taxpayers need to get ready to step in and cover the infrastructure investment, which are too large to be financed on the commercial basis. It’s estimated that over 200 billion euro needs to be allocated in order to carry wind powerplants from the north and solar power from the sunny South to the central cities.
The problem is that they need to work on achieving these goals in times of economic stagnation, budgetary constraints and fears over eurozone’s future.
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Read more on Shale gas to boost Polish energy sector.
