Do rising oil prices mean productive investments in renewables?

A senior EU official has said that rising oil prices following the US’s withdrawal from the Iran nuclear deal, should act as a wake up call for Europe to put policies in place that will encourage investment in renewable energies and lower resilience on imported fossil fuels.

Dominique Ristori said promoting renewables is “a productive investment”. Draft directives on renewable energies currently under negotiation at EU level could greatly improve energy security in Europe.

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