99GOLD.NET · Market brief · Economy & rates

Three EU Nations Call for New 2040 Renewable Energy Goal

Spain, Portugal, and Luxembourg have urged the European Union to set renewable energy targets for 2040, arguing that the EU should accelerate its clean energy rollout to reduce dependence on imported fossil fuels and on geopolitical disruptions to oil and gas supply. “Because of geopolitical uncertainties, and as shown by the consequences of the blockage of the Strait of Hormuz, we need to act fast to cut [dependence on fossil fuels]”, the energy ministers of Spain, Portugal, and Luxembourg wrote in a letter to European…