EU Urges New Investments in Renewable Energy

from The Associated Press:

SINGAPORE (AP) — European Commission President Jose Manuel Barroso said Thursday that countries should invest more in renewable energy to mitigate the impact of expensive fossil fuels such as crude oil.

"It's quite obvious that the prices of oil and gas and fossil energies are indeed creating new scenarios," Barroso said at a news briefing following meetings with the Association of Southeast Asian Nations in Singapore.

"This is one of the reasons why we should not be so dependent on fossil energies," Barosso said. "We should invest more on renewable energies and we should also try to accelerate (a) transition to a low carbon economy because this is crucial to understand what is going to happen in the global economy in the future."

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