EU Energy Chief Warns Iran War Could Keep Prices Elevated for Years
"In the best of cases, we have to prepare for a fairly tough summer," European Commissioner for Energy and Housing Dan Jorgensen told Spanish daily La Vanguardia in an interview published Tuesday.
Jorgensen did not mince words about the gravity of the situation, describing the current energy landscape as "very serious" and warning that ongoing disruptions to global energy markets caused by the conflict were likely to push conditions further toward crisis.
"Even if peace is declared tomorrow, we are facing weeks, months, and even years of difficulties when it comes to energy prices," he said.
The Commissioner pointed to severe damage sustained by natural gas infrastructure — particularly in Qatar — as a key factor that could sustain elevated prices long after any ceasefire. While oil markets may find equilibrium more rapidly, Jorgensen stressed that even brief interruptions carried outsized risks.
"Just a few weeks can be crucial if we run out of jet fuel or diesel, or face supply problems," he warned.
Consumers are already in the crosshairs, with the aviation sector among the first to feel the squeeze. "Flying will become more expensive and, in some cases, we could even see cancellations," Jorgensen said.
Framing the crisis as a defining moment for European energy policy, the Commissioner argued it should function as a "wake-up call" to dramatically accelerate the continent's shift toward renewable energy sources. He underscored Europe's chronic vulnerability to external energy shocks, noting the bloc spends over €370 billion — roughly $435 billion — annually on fossil fuel imports, and has already absorbed more than €20 billion in additional energy costs since the Iran war began.
Jorgensen also firmly closed the door on any revival of Russian energy imports, regardless of how the conflict in Ukraine ultimately concludes.
On the demand side, the European Commission is set to present a menu of consumption-reduction options for member states to implement at their own discretion. Jorgensen made clear, however, that Brussels opposes fuel tax cuts — a measure several EU governments have already enacted unilaterally — arguing they run counter to the bloc's conservation priorities.
"In a situation of scarcity, the goal should be to reduce consumption, not increase it," he said.
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