The European Commission pointed out that in the face of high oil prices, the EU must increase energy efficiency and reduce dependence on traditional energy such as oil. To this end, the European Commission has suggested that tax incentives and other means can be used to encourage energy conservation and pass legislation to establish renewable energy and biofuel development targets.
The European Commission also proposed that, in the short term, member states could provide targeted assistance to some people affected by high oil prices, but it must ensure that such measures are temporary and will not distort the market.
At the international level, the European Commission supports the convening of a global oil summit with the participation of major oil producing and consuming countries in the world to jointly discuss ways to deal with the soaring international oil prices. At the same time, the EU will also strengthen existing regional and bilateral dialogue mechanisms.
The European Commission stated that based on the results of the discussion that day, a policy document will be issued in the coming days for consideration by the forthcoming EU summit.
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