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EU fails on energy savings, mandatory goals loom

Wed, 02/09/2011 - 7:29am
Reuters

BRUSSELS (Reuters) - Europe is struggling to meet its own energy saving targets, as an aversion to upfront investment holds back a strategy that could create jobs, cut climate-warming emissions and save billions of euros.

Energy Commissioner Guenther Oettinger will give European Union governments two years to get the strategy back on track before proposing legally binding targets, according to a draft EU document seen by Reuters on Wednesday.

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