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For Immediate Release
June 20, 2005
Energy Security, Energy Efficiency, Renewables and Economic Development
The United States and the European Union share a long tradition of working together to promote strong economic growth and improve energy security. We pursue this through such mechanisms as the International Energy Agency, the G-8 initiatives and the Bonn "Renewables 2004" Action Plan.
By working together the European Union and the United States intend to cooperate to promote sound energy policies, improve energy security and foster economic growth and development. We recognize the need for stronger actions to increase energy security and reduce the economic impact of high and volatile energy prices.
We recognize that one of the greatest needs for developing countries today is to provide the basic energy services necessary to lift their citizens out of poverty. We believe that the advancement and deployment of technology can contribute to the solution of the problem. By developing clean, efficient, affordable energy technologies for the longer term, while continuing to improve and deploy the current generation of lower-emission technologies, we can help all nations, including developing countries, meet the energy needs of their people and grow their economies.
The European Union and the United States recognize the important potential that can result from further efforts. We will continue to address energy efficiency through effective policy measures and technology, and focus our efforts on achieving security of supply and helping the developing world to address energy challenges.
To further these objectives, the United States and the European Union will focus their activities in the following areas of common action: