Local view for "http://purl.org/linkedpolitics/eu/plenary/2004-10-25-Speech-1-115"
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"en.20041025.15.1-115"2
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"Mr President, ladies and gentlemen, the rise in oil prices is having an undeniable impact on the European economy, agriculture and fisheries. It would be hard to think of a more topical issue. Today, for example, we have heard about farmers making it difficult to store and refine oil in France, where they are demanding, in a typically French way, complete exemption from tax on fuel used in agriculture.
Also in the news too the critical stage which the industrial dispute in the Norwegian oil industry has reached, and that has put up the price of crude oil in the Nordic countries. Examined in historical context, the current price of oil per barrel, which is more than USD 55, easily exceeds the 40 dollar level, which it was thought would significantly slow down global economic growth. If current price levels are maintained, forecasts for the global economy may well have to be adjusted downwards. If the situation continues for a long time, it will also become a problem for us.
For now, however, we should keep our composure. The long-term rise in oil prices is not just the result of recent events, but of strong economic growth in China and the countries of South-East Asia, which in itself is a positive thing. Low stocks in the United States and political instability in the Middle East have also had an impact. Furthermore, when we consider the American presidential elections and many other political factors, such areas of speculation have now contributed to price pressures, although they are not directly linked to any real oil shortage.
The only means by which we can have an effect on the price of oil or any other form of energy in the long term is to ensure that European energy policy is sufficiently diverse in scope. Specifically, we need to support a diverse energy mix that includes all the main forms of energy, especially nuclear power. Dependence on oil is also a very difficult issue from the point of view of relations with Russia, as Mr Paasilinna, for example, has just said. Russia sells energy wherever it can obtain the best price for it, and China and India, as major consumers, have the advantage over Europe here. We should not, therefore, rely on imported energy. Instead, we must ensure that we produce a greater proportion of our energy in Europe ourselves, at a reasonable cost, and in a way that is environmentally sustainable."@en1
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