The times of cheap energy have come to an end

The Portuguese Minister for Economic Affairs Manuel Pinho calls for a common European solution to the energy crisis: "[The rising oil prices] are particularly affecting low-income families and the most vulnerable companies. We cannot just shrug our shoulders and turn our backs on the situation. An answer is required at the European level. ... Because we are facing structural changes we must respond with structural measures. We can do nothing to alter the fact that the times of cheap energy have come to an end. The solution lies in renewable energies, in efficient consumption and in modernising our transportation systems. And also in creating more transparent markets with stronger competition."

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