EU ROUND UP – BRUSSELS PLOTS AMBITIOUS COURSE OF ACTION ON ENERGY SUSTAINABILITY
March 1st, 2011
BY KEITH NUTHALL
THE EUROPEAN Commission has unveiled the cost of its ambitious plan for cutting European Union (EU) greenhouse gas emissions by 80-95% of 1990 levels by 2050. Brussels says that an additional targeted annual investment over the next 40 years is needed - equalling 1.5% of the EU's GDP - or Euro EUR270 billion. It argues that "much or all of this extra investment will be recovered through lower import bills for oil and gas...estimated at EUR175-320 billion-a-year." It would also ease EU balance of payments problems, given the majority of ...
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