The European Union's Energy Security Challenges
Abstract
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 nation's future energy requirements. Similarly, the European Union, along with its member states, is also engaged in an intense discussion of Europe's future energy challenges. The United States and the European Union, together, represent the world's largest energy market. Today, the United States and the EU produce approximately 23% of the world's energy but consume almost 40% of the world's 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 EU's imported energy in the form of oil and natural gas comes from Russia. Europe's 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.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 11, 2006
- Accession Number
- ADA464691
Entities
People
- Vince L. Morelli
Organizations
- Library of Congress