EU's Plan to Slash €130B in Fuel Imports by 2030

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EU's new Clean Industrial Deal could slash 45 billion euros from fossil fuel imports in 2025, with potential savings rising to 130 billion euros annually by 2030.

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Energy Commissioner Dan Jorgensen warns doing nothing costs more: "We save money by not buying fuel from outside."

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The EU faced a harsh wake-up call when fossil fuel import costs skyrocketed to 604 billion euros in 2022 after Russia's invasion of Ukraine.

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Four powerful changes aim to transform Europe's energy future: faster permits for renewables, reformed energy tariffs, increased clean energy subsidies, and 40% local production of green tech.

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Despite Trump's return to office and threats of tariffs on European goods, Jorgensen stands firm: "We need to step forward" with the green agenda.

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Europeans currently pay $13 per unit for natural gas compared to Americans' $3 – a gap the new European Grid Package hopes to narrow.

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Energy expert Juliusz Kowalczyk cautions: "The EU moves slowly when making big changes. It's like turning a large ship rather than a small boat."

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The ambitious plan targets powering 32% of Europe's economy with electricity by 2030, up from today's 23%, requiring 100 gigawatts of new renewable capacity yearly.

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