The European Parliament adopted a resolution on oil dependency, noting with concern the recent continuous increase in the price of crude oil and its effect on the competitiveness of businesses and the general economic health of the population. Europe's dependence on oil and oil imports is a matter of great concern. Parliament believed that in order to ensure energy supply, Europe should diversify energy sources and origins of supply and strengthen its strategy to promote energy conservation measures and decentralised renewable energy sources.

It called for a comprehensive global strategy to promote energy efficiency and the use of alternative energy sources, in view of the very high oil consumption in the US as well as increasing oil consumption in especially large emerging economies such as China and India. It called on the EU rapidly to take the initiative to hold a world summit of the larger oil consumer and producer countries.

The Commission is asked to help developing countries and emerging economies by integrating sustainable energy provision in its development cooperation policy in order to reduce their dependency on imports of fossil fuels. The EU must push for a proper balance between their energy needs and environmental concerns by promoting the transfer of new energy-saving and renewable technologies.

Parliament highlighted the geostrategic aspects of Europe's dependence on energy imports. The dialogue with all European energy partners should be intensified, to promote security of supply, market transparency and further investment. Parliament recognised that the most logical response to higher oil prices is to switch to using alternative energy sources, and therefore emphasised the importance of actions to reduce energy intensity by using less energy for the same economic output (noting the rate of reduction in Europe since the 1970s).

It strongly endorsed the need for follow-up strategies and concrete measures to promote research and development, to increase use of renewable energies and to promote energy efficiency in order to achieve a less fossil-fuel dependent economy.

Finally, Parliament urged the Commission and Member States to accelerate the development of renewable energy sources as well as hydrogen fuel cells.

The European Parliament adopted a resolution on oil dependency, noting with concern the recent continuous increase in the price of crude oil and its effect on the competitiveness of businesses and the general economic health of the population. Europe's dependence on oil and oil imports is a matter of great concern. Parliament believed that in order to ensure energy supply, Europe should diversify energy sources and origins of supply and strengthen its strategy to promote energy conservation measures and decentralised renewable energy sources.

It called for a comprehensive global strategy to promote energy efficiency and the use of alternative energy sources, in view of the very high oil consumption in the US as well as increasing oil consumption in especially large emerging economies such as China and India. It called on the EU rapidly to take the initiative to hold a world summit of the larger oil consumer and producer countries.

The Commission is asked to help developing countries and emerging economies by integrating sustainable energy provision in its development cooperation policy in order to reduce their dependency on imports of fossil fuels. The EU must push for a proper balance between their energy needs and environmental concerns by promoting the transfer of new energy-saving and renewable technologies.

Parliament highlighted the geostrategic aspects of Europe's dependence on energy imports. The dialogue with all European energy partners should be intensified, to promote security of supply, market transparency and further investment. Parliament recognised that the most logical response to higher oil prices is to switch to using alternative energy sources, and therefore emphasised the importance of actions to reduce energy intensity by using less energy for the same economic output (noting the rate of reduction in Europe since the 1970s).

It strongly endorsed the need for follow-up strategies and concrete measures to promote research and development, to increase use of renewable energies and to promote energy efficiency in order to achieve a less fossil-fuel dependent economy.

Finally, Parliament urged the Commission and Member States to accelerate the development of renewable energy sources as well as hydrogen fuel cells.