Is Europe Giving Up on “Green” Energy?

May 24, 2013 by  
Filed under Green Energy News

EU leaders agreed Wednesday to face up to the challenge posed by the shale oil and gas revolution which has slashed US energy prices, undercutting Europe’s competitive edge.

“All leaders are aware that sustainable and affordable energy is key to keeping factories and jobs in Europe,” European President Herman Van Rompuy said.

“Industry finds it hard to compete with foreign firms who pay half the price for electricity, like in the United States,” Van Rompuy said at the close of an EU summit focused on energy and tax evasion. …

The EU’s 27 heads of state and government met amid fears the US-led shale boom will reshape the global economy and leave Europe far behind.

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