Europe must prepare for ‘long-lasting’ energy shock, EU energy commissioner tells FT

The EU is assessing “all possibilities” including ​fuel rationing and releasing more oil from emergency reserves. (REUTERS)

• The EU is assessing “all possibilities” including ​fuel rationing and releasing more oil from emergency reserves

The EU is assessing “all possibilities” including ​fuel rationing and releasing more oil from emergency reserves as it braces for ‌a “long-lasting” ‌energy shock ​from ‌the ⁠Middle ​East war, the ⁠Financial Times reported on Friday in an interview with EU ⁠Energy Commissioner ‌Dan Jorgensen.
“This ‌will be ​a ‌long crisis ... ‌energy prices will be higher for a very long ‌time,” Dan Jorgensen told the ⁠FT, ⁠saying that for some more “critical” products “we expect it to be even worse in the weeks to come.”