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9/12/05

EU should act together on oil threat

EUpolitix.com - Press Review

"EU should act together on oil threat

EU governments should not cut petrol prices by slashing taxes or compensating consumer because of the risk of fuelling oil demand, Europe’s finance ministers warned this weekend.

Belgium, the Netherlands and Poland are moving to cut taxes, sparking calls for an EU-level response to manage demand-led rises in oil prices.

German newspapers report Brussels will call on the US to save energy and ask the oil-producing countries' cartel OPEC to boost output.

The British media warn there could be protests from hauliers and farmers as soaring oil prices begin to bite.

The Spanish press reports that the EU will push for more refinery capacity and corporate investment in renewable energy sources."

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