Taoiseach Micheál Martin with Thomas Byrne, junior minister for European Affairs In Brussels, Belgium this morning
Ireland facing ‘new era’ of higher energy costs, Martin warns https://t.co/dwiU2c72T2
— Ireland Live (@IrelandLiveNew) May 31, 2022
Via RTE News:
Arriving at the second day of an EU summit in Brussels, Mr Martin warned of “rocky territory” in the coming years when it comes to high energy prices.
This was due to a confluence of factors, such as climate change, the war in Ukraine and the EU’s strategic plans to wean Europe off Russian oil and gas, known as RePowerEU.
“We are at a watershed moment in terms of the European Union’s dependency on Russian oil and gas,” the Taoiseach told reporters.
“RePowerEU will bring about a more sustained and fundamental break with that dependency on oil and gas.
“If you dovetail that with our climate change agenda it is a watershed moment for fossil fuels in general, which will make for fairly rocky territory over the next couple of years in terms of pricing around fossil fuels.
“We cannot get away from that,”