Yet another oil price high underlines the reasons to cut fuel use and to turn to renewable energy as speculators and concern about security of supply grip the world’s fuel markets following Israel’s threat to take out Iran’s nuclear capability. Commented Barry Johnston, Managing Director of Solartwin today: “Today’s European Energy strategy had assumed that oil would top out at around £70 per barrel over the coming years. With prices nearly double this level already, a comprehensive Europe-wide policy review is now urgently required, with long term support for renewable energy as a major agenda item.”
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