00:00Le famiglie e le industrie stanno pagando il costo di una crisi
00:03far beyond our borders.
00:05Since the end of February, gas prices have risen by 140%.
00:10Diesel prices have doubled.
00:12And all together, if we look at the imported fossil fuels,
00:15their costs for Europe are 100 billion euros extra
00:20without a single molecule of energy in addition.
00:23So we are all feeling these higher costs.
00:25Businesses are under high pressure.
00:27People struggle to pay their bills.
00:29And this could, of course, intensify as we head into the winter.
00:33We need to act now to protect those most in need
00:36and to make sure we come out of this crisis stronger than we entered it.
00:41The support has to be targeted.
00:44There should be no blanket handouts
00:47because that would only increase the demand.
00:50It would actually favor higher incomes.
00:53And it entails enormous costs.
00:55Last week, G7 members agreed to release 100 million barrels of diesel and crude oil.
01:02This will help stabilize the global prices.
01:05We will give flexibility to exporters for one more year on methane.
01:09And finally, we will launch a new task force to bundle energy demand.
01:14We have done this actually before.
01:16When Russia tried to backmail us, we brought together European buyers.
01:22We pooled the demand.
01:24We helped secure the supplies that Europe needs.
01:27So it is a model that works.
01:29But now we have to bring it to the next level.
01:31We want to move from simple matchmaking to aggregating demand
01:36and then task a market operator to do the joint procurement for all of us.
01:42As long as Europe depends on oil and gas,
01:46our prosperity remains exposed to events that are beyond our control.
