The European Union’s top energy official is warning that the massive energy crisis sparked by the US-Israeli war on Iran is set to hit prices for months, even years, to come.
EU Energy Commissioner Dan Jørgensen said Wednesday that “this is not a short-term, small increase in prices. This is a crisis that is probably as serious as the 1973 and the 2022 crises combined.”
Jørgensen says the war is costing Europe around 500 million euros ($600 million) each day and that “we are looking into some very difficult months, or maybe even years” ahead. “Even in a best-case scenario, it’s still bad,” he told reporters.
