EU is looking at nuclear power again as oil prices rise


European Union chief Ursula von der Leyen said on Tuesday that Europe’s shift away from nuclear power had been a “strategic mistake”, as rising oil prices reignited concerns about the bloc’s energy vulnerability.

Speaking at a nuclear summit in Paris, the president of the European Union Commission endorsed a return to atomic energy, saying the EU would support investment in “innovative nuclear technology”.

“It was a strategic mistake for Europe to reject a reliable, cheap source of low-emission energy,” he said.

US and Israeli attacks on Iran and Tehran’s retaliatory attacks throughout the Gulf region have upended the world’s energy and transportation sectors, halting operations in the strategically important Strait of Hormuz.

European Union officials have said that the situation has not yet reached the level of conflict after Russia invades Ukraine in 2022.

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But the dispute has reignited debate over the bloc’s external dependence and high energy costs, which the European industry has long said hinders competitiveness against Asia and North America.



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