Europe Must Brace For Long-Lasting Energy Shock, EU Energy Commissioner Warns

The European Union is considering emergency measures including fuel rationing and the release of oil from strategic reserves as it prepares for what officials are calling a prolonged energy shock triggered by the ongoing Middle East war.

EU Energy Commissioner Dan Jorgensen, speaking to the Financial Times, warned that energy prices will remain elevated for a considerable time. "This will be a long crisis," he said, adding that for some more critical products, the situation is expected to worsen further in the weeks ahead. 

Brussels is actively examining all contingency options, including the introduction of fuel rationing and releasing additional volumes of oil from strategic reserves. Officials have not yet reached the point of imposing formal restrictions, but Jorgensen said the EU is preparing for worst-case scenarios. "Better to be prepared than to regret it later," he said.

According to Euronews, at an emergency meeting of European energy ministers, Jorgensen urged member states to take aligned, coordinated action to curb oil and gas consumption and manage storage reserves. Oil prices have surged by around 70 per cent and natural gas by around 50 per cent, raising serious concerns about supply security across the bloc.

EU countries have been advised to consider measures such as voluntary fuel-saving schemes and even car-free Sundays, a policy last seen during the 1970s energy crisis. Jorgensen also urged governments to postpone maintenance on oil refineries to keep production running and to consider biofuels as an alternative source.

The IMF has noted that the impact across Europe is uneven, with countries such as Italy and the United Kingdom particularly exposed due to their reliance on gas-fired power, while France and Spain are relatively better protected owing to their greater nuclear and renewables capacity.

Jorgensen stressed the importance of a unified European response. "It is only by working together that we can be stronger and protect our citizens and businesses more effectively," he said.