The European Union's Energy Security Challenges
LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE
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Recent increases in energy prices and a steady escalation in world energy demand that is expected to rise by nearly 60 over the next twenty years has led U.S. policy-makers to engage in a wide ranging debate over how best to address this nations future energy requirements. Similarly, the European Union, along with its member states, is also engaged in an intense discussion of Europes future energy challenges. The United States and the European Union, together, represent the worlds largest energy market. Today, the United States and the EU produce approximately 23 of the worlds energy but consume almost 40 of the worlds supply of energy. The EU consumes approximately 18 of global oil consumption and 19 of gas produced. In 2005, the EU imported approximately 50 of its energy needs. That figure is expected to rise to 70 by 2030. Almost 50 of the EUs imported energy in the form of oil and natural gas comes from Russia. Europes growing dependency on Russian energy supplies has led some observers to express their concern that Moscow could use the energy weapon to try to influence future foreign or economic policy in Europe.
- Economics and Cost Analysis
- Electric Power Production and Distribution