The EU Trying to Achieve Energy Independence
According to the Financial Times, Brussels also wants autonomy in agriculture, healthcare, technology and defense, but not at the expense of isolation.
Unlike other industries, today the situation is the worst in energy sector. The security of a large part of the continent is ensured by the North Atlantic Alliance. Partner countries are also involved in the supply of technology, and in the case of oil and more gas, dependence on Russia is at a dangerous level.
Achieving energy independence cannot be achieved quickly and easily. To achieve this, Brussels is considering increasing imports of liquefied natural gas and accelerating the transition to renewable energy. In a critical situation, the leaders of European countries may even have to put up shutting-down nuclear and coal-fired power plants.
The idea of economic independence became especially relevant 2 years ago, at the beginning of the pandemic, the issue became even more acute after the Russian invasion of Ukraine.
With $ 18 trillion in GDP, the EU is the #2 economy after the US. But because there are more than 100 million people living in the EU compared to the United States, the difference is greater in terms of per capita income. Despite a positive trade balance, the economic unity of the 27 countries is largely dependent on imports of natural resources, agricultural products and computer chips.
