Global Push to Revive Clean Energy Incentives Gains Momentum as EU Backs Wind, Hydrogen Amid Oil Shock
The European Commission signed off Monday on new state support for Danish offshore wind and French hydrogen projects, channeling more money into the EU’s renewables push. Brussels is also considering wider tax relief and looser rules on public aid in a bid to protect both consumers and manufacturers from another surge in energy prices. It’s hard to miss the timing. The U.N. weather agency confirmed this was the planet’s hottest 11-year period—2015 through 2025—on record. After tumbling 10% Monday, Brent crude still hovered near $101 a barrel. IEA chief Fatih Birol didn’t mince words, saying the Middle East crisis is “worse than the two oil shocks of the 1970s put together.” The EU, which relies on imports for over 90%