Budget: €2 350 million (2007 - 2013)
Energy
systems are confronted with major challenges.
The urgency to identify and develop adequate and
timely solutions is justified by the alarming
trends in global energy demand, the finite
nature of conventional oil and natural gas
reserves, and the need to dramatically curb
greenhouse gas emissions. These actions would
effectively mitigate the devastating
consequences of climate change, the damaging
volatility of oil prices (in particular for the
heavily oil-dependent transport sector) and
geopolitical instability in supplier regions.
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