European Union to invest one trillion on energy

To the AFP (via Grist) : ” The European Union’s energy chief Wednesday unveiled an ambitious 10-year trillion-euro energy investment plan for a single E.U. energy network to cut fossil fuel imports and fight climate change.”

On its way to cut its emissions by 20 percent by 2020 and increase the share of renewables to 20 percent of the energy mix by 2020 it is likely to fail at decreasing its energy consumption by 2020 unless drastic actions are taken.

This massive plan is due to reach this goal, which could save the 27 country members up to 78 billion euros per year by 2020 and create a million green jobs. Can Europe solve the triple crisis ?

The answer to this question will come after February 4th, 2011, after the first EU energy summit ever…

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