Page 29 - European Energy Innovation - Spring 2016 publication
P. 29
Spring 2016 European Energy Innovation 29
ENERGY SECURITY
At the same time, the increasing we will need to provide re-training policymakers. While an improved
electrification of vehicles, whether and re-skilling to those who have energy trade balance; lower oil prices
hybrids or fully electric, will make a lost their jobs in the refining and and reduced mobility costs deliver an
significant contribution to urban air distribution of fossil fuels, or in economic boost for Europe, the lower
quality by curbing health-damaging manufacturing outdated vehicle oil prices will also make gas-guzzling
NOx and particulates. According to technologies. And oil-exporting vehicles more appealing.
a recent OECD report, outdoor air economies will need to manage this
pollution costs OECD countries about transition carefully to avoid social The challenge for policymakers,
$1.7 trillion a year in terms of the value upheaval. But what is becoming clear therefore, is to harness the economic
of lives lost and ill health, with around is that this transition is overwhelmingly benefits generated by this transition
half of that pollution coming from road beneficial for oil-importing regions and ensure they are redistributed in
transport1. such as Europe. such a way as to ensure that we do
not slip back to the world of fossil
The transition away from oil is not Of course, the transition described fuel vehicles, and ultimately back to a
without its challenges. Within Europe, above also creates a dilemma for world of high oil prices. l
1 WHO Regional Office for Europe, OECD (2015). Economic cost of the health impact of air pollution in Europe: Clean air, health and wealth.
Copenhagen: WHO Regional Office for Europe
www.europeanenergyinnovation.eu
