Indebted states too dependent on oil

The most indebted EU states are the ones whose economies are most dependent on oil, the daily El País writes in an analysis and calls for them to switch to using alternative sources of energy: "It is interesting that these countries top the list of those dependent on oil: Greece (58 percent of energy consumed comes from oil, Ireland (55 percent), Portugal (55 percent), Spain (48 percent) and Italy (46 percent). These percentages are way above the EU average (37 percent). What is more, the PIIGS also have to import practically all their oil. ... In view of the new situation the oil importers urgently need to restructure their transport sector, because 95 percent of this is dependent on oil derivates. The energy debate far too often focuses only on electricity production. One forgets that there are already several alternatives for this but not for large-scale vehicle fuel consumption. The link between vehicle fuel and transport is the weakest link in the chain in our energy system and possibly the weakest link in our entire economy."

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