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EU Nations Struggle To Agree Common Energy Policy
Brussels (AFP) Feb 15, 2007 European Union energy ministers met on Thursday to seek agreement on a common energy policy, amid opposition to European Commission proposals to help reduce greenhouse gas emissions. "The 27 member states have different ideas on reaching the objective," of a common energy policy, said German economy minister Michael Glos, who chaired the ministers' meeting in Brussels. "We'll be seeking a compromise deal," he added. "My goal is to encourage the European Commission to pursue a path favourable to competition." "We are searching for a consensus," said Spanish industry minister Joan Clos, before the meeting began, adding that a working ministerial dinner on Wednesday had helped to move things forward. The ministers are seeking to draw up an agreed text for an EU summit in March at which the energy issue will be high on the agenda. Last month the European Commission, the EU's executive arm, sketched out 10 key points for a common energy policy for the 27 member states, deemed vital amid global warming and soaring energy prices. But the ministers went into the talks divided over two main planks of the Commission's wide-ranging energy proposals to help reduce the greenhouse gases that cause global warming. One is to increase the use of renewable energy to 20 percent of the EU's total energy consumption by 2020. The current level is just seven percent. The Commission also proposed that bio-fuels should make up at least 10 percent of vehicle fuel by the same time. According to diplomatic sources, Denmark, Germany, Italy, Slovenia, Spain and Sweden support the idea of minium required levels of renewables. Others, including Britain, France and Finland are opposed, the sources said. Another key proposal is the "unbundling" of energy companies, splitting up the production and distribution sectors. According to the EU's executive arm this would stimulate competition and investment and bring prices down for the consumer.
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US Industry Warming To Climate Change Fight
Washington (AFP) Feb 14, 2007Saving the planet is a worthy goal, but corporate America also sees money to be made in the fight against global warming. First, however, the US business world needs its skeptical government to pave the legal and regulatory path to climate riches. Former Federal Reserve vice chairman Roger Ferguson, now a top executive at insurance giant Swiss Re, spelt out the case for government action at a climate change conference of global legislators held at the US Senate Tuesday. |
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