Disturbances within the Gulf shortly have an effect on costs all over the place. We are already seeing worth spikes. But whatever the measures taken, so long as we import a big share of fossil fuels from unstable areas, we’re susceptible and dependent. And this power at all times has a value.
To give an instance: from the start of the battle, gasoline costs elevated by 50% and oil costs by 27%. Translating this determine into euros, 10 days of battle have already price European taxpayers one other 3 billion euros in fossil gasoline imports. This is the worth of our dependence.”
This was stated by the President of the European Commission, Ursula von der Leyen, in her speech to the plenary of the European Parliament on the conflict in Iran and the preparation of the European Council on 19 March.
WSJ: proposal from the International Energy Agency to unlock oil reserves
The International Energy Agency (IEA) is expected to propose an unprecedented release of strategic oil reserves to stem the surge in prices caused by conflict in the Middle East.
The Wall Street Journal stories it.
https://www.ilsole24ore.com/art/wsj-proposta-dell-agenzia-internazionale-l-energia-sblocco-riserve-petrolio-senza-precedenti-AIqfWKtB