00:01If you are planning a holiday this year, you might want to check your bank balance and your flight status
00:06before you park.
00:07Europeans are entering what is shaping up to be a surcharge summer.
00:11And while the European Commission tones down warning from energy experts, the airlines are telling a different story.
00:17SAS Scandinavian Airlines have cancelled about a thousand departures.
00:22Lufthansa has followed suit by axing 20,000 routes.
00:25And Air France KLM is slapping a €100 surcharge on long-distance tickets.
00:32So what causes this turbulence?
00:35EU refineries account for roughly 70% of the bloc's jet fuel, with the rest usually imported from the Middle
00:42East.
00:42However, with the Strait of Hormuz closed, the disruption to global oil transit drove jet fuel prices to twice their
00:49previous levels.
00:50And last week, the International Energy Agency warned Europe has roughly six weeks of supply left, resulting in possible flight
00:59cancellations.
01:00The European Commission argues that flight cancellations are not related to shortages, but rather to the airline's own lack of
01:07profitability.
01:08However, to be on a safe side, it launched Accelerate EU, a plan to coordinate emergency fuel supplies, and ensure
01:16Member States start sharing what's left in their tanks.
01:20The EU is also eyeing new imports from the United States.
01:23However, US jet fuel follows slightly different chemical standards.
01:28The European Commission is trying to keep Europeans calm, but the advice from the EU transport ministers, who got it
01:34ahead of this week's summit in Cyprus, is a bit of a climb.
01:38They are suggesting Europeans neutralize demand by switching to public transport and electric bikes.
01:44And your reporter believes it is a noble idea.
01:47But you cannot exactly ride an e-bike from Brussels to Ibiza, or can you?
01:51So the energy crisis debate will likely be held today and tomorrow, during an informal summit of EU leaders in
01:57Cyprus.
01:58I just wonder how they plan to get there.
02:01The European Commission is an access to the European Commission.
02:05The European Commission has a number of questions from St. Louis Dei.
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