Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-09-22-Speech-1-103"
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"en.20030922.6.1-103"2
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"Madam President, it has been an interesting debate. At present, the Member States must contain a level of oil stocks equivalent to 90 days' consumption for each of the three main categories of petroleum products for energy use.
The proposal before us today is intended to replace existing European Union directives which govern this important energy policy matter. Indeed, such a directive is needed because the current European Union legislation does not provide for a Community mechanism governing the use of oil stocks. We live in an internal market and there must be solidarity between the Member States and the European Union in the event of energy supply problems.
In most countries of the Union – by way of contrast with the strategic petroleum reserve in America – security stocks are held by oil companies and are mixed with their operational stocks. The main feature of the Commission proposal is to ensure that Member States set a minimum level of oil stocks for a period of 120 days. The Members States of the Union must set up a public oil holding body and there must be harmonisation and coordination of crisis measures at European level. The Commission will be assisted in its work by a committee made up of representatives of Member States.
On 1 May 2004 we will be living in a Community of up to 25 Member States. Adequate provision of oil and gas is necessary if the European Union economy is to operate effectively. There must also be a necessary reserve of key energy products in stock.
I believe that there is a role for the Commission in dealing with this sensitive issue and that this energy matter is best coordinated at European Union level in the interests of European industry and the citizens of the European Union."@en1
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