Europe will face a difficult summer with possible fuel shortages and other oil-related issues, and even the best-case scenario will be challenging, said EU Energy Commissioner Dan Jørgensen on Tuesday.
“I need to be quite direct and say that even in the best scenarios, it is not a very good situation,” he said while speaking at an event in Madrid, Spain, according to CNN.
Even if the war with Iran were to end today and the Strait of Hormuz were fully reopened—a scenario he described as unrealistic—it would still take years to return to current production levels.
When asked about the possibility of introducing an extraordinary tax on oil and gas companies to ease pressure on consumers, similar to measures taken in 2022 during the Russia–Ukraine war, Jørgensen dismissed the idea.
“Regarding oil, it is a bit different,” he said, noting that unlike Russian natural gas, oil from the Middle East takes weeks to reach Europe.
“My assessment is that we are facing a summer that will clearly be difficult… We may experience problems with the supply of aviation fuel, and possibly later also diesel,” he said, adding that airlines may reduce demand by cutting certain routes.
While it is difficult to predict the worst-case scenario, he warned of a broader crisis: “If this continues for many months or even years, we are facing an entirely new world order and potentially very, very serious economic consequences that go beyond the energy sector.”
