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IEA Head Warns “Wild West” Energy Scenario Could Unravel Europe

IEA Head Warns “Wild West” Energy Scenario Could Unravel Europe

The unity of EU member states could be in jeopardy as a dark winter fast approaches set to trigger a ‘continental scramble’ for energy resources. European countries would be in a “wild west scenario” in their attempt to pursue energy security which would result in souring relations with neighbors and cause worsening fuel and power shortages with risks of social unrest, warned Fatih Birol, the head of the International Energy Agency, who was quoted by the Financial Times.

Birol spoke Thursday in an interview at the inaugural Global Clean Energy Action Forum in Pittsburgh, Pennsylvania, when he explained the energy crisis threatens to shatter EU unity as countries could restrict or stop trading energy resources with neighbors to ensure their own energy security.

“The implications will be very bad for energy, very bad for the economy, but extremely bad politically … if Europe fails this test in energy, it can go beyond energy implications,” Birol said

The head of the Paris-based watchdog energy group was very straightforward about the two possible scenarios:

“EU and members will work in solidarity, supporting each other . . . or there is another scenario, if everybody is for himself.”

Meanwhile, earlier this month, the president of the European Commission, Ursula von der Leyen, was firm in her state of the union address that the unity of EU member states will prevail through this energy crisis.

But there has already been a breakdown in unity among some member states, as FT explains:

Norway’s Nordic neighbours last month blasted Oslo for “selfish” behaviour as it considered pausing electricity exports while it refilled its hydroelectric reservoirs. 

…click on the above link to read the rest of the article…

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