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Energy in the European Communities. Speech by Dr. Guido Brunner, Member of the Commission of the European Communities, at TNO. The Hague, 21 September 1979

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  • Economics


untitled l ·. - --. \ .X lilY \"'· . I . . ' • . .. I I ,• I . . SPEECH BY DR. GUIDO BRUNNER, MEMBE~OF THE COMMISSION OF r~·EUROPEAN COMMUNITIES · : AT TNO, Den Haag; 21 September 1979 ENERGY IN THE EUROPEAN COMMUNITIES Ladies and Gentlemen, ,::,; .... ·--- -~---... --. ···--~·-·-·~---.-~~----·- ~·. ~ .. Sine' 197~, the oil price has-. in money terins -grown almosttenfold. During th~ last nine moriths alone the oil price has shown the same amount of increase as in the time from 1973 to 1978. The in- ' ~rease was 8 dollars a barrel. It is difficult to understand. fully the dramatic growth of the .funds now flowing to the OPEC countries: This year OPEC mem- bers stand to receive more than 120 billion dollars. This is ~ the first ti~e in history that without recourse to military force Sl1Ch an enormous redistribution of wealth has taken place within such a short time. This redistribution is tak_ing· place moreover in a period of major economic difficulty. International economic relations are complicated by rising.protectionism, monetary disturbances and uncertainty in· the' field of international investment. A co~siderable part of these difficulties are the result. of . . .. present energy problems. I should like to make clear that this . remark refers to both ·energy production and energy consumption, to both the OPEC .producers and to the consumers. . I. collsvs Text Box collsvs Note Completed set by collsvs User Rectangle User Rectangle User Rectangle User Rectangle User Rectangle User Rectangle ..• . l . -· . ~: ..... ~ ~ ; ·, . ~ .... :· .. ' . . ,, ., ,, ' ... . •:::. . . · '• ~' _., ' Most na-tional' e~onomies of the industrialized countries are experlencing~gre~t _difficulties as demonstrated by rising un-. employment and_· increasing_ ;nflation. I think that last winter brough:t it home> to us~ that in the energy field we have reached· a.cri~i~al '~oint. Time is short and

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