Loading…
Thursday, August 28, 2014
Current Weather
Loading Current Weather....
HomeNewsWorld
Published: Wednesday, 3/26/2014

Obama speaks at EU-US summit meeting

President highlights need for US-EU energy cooperation, worries NATO allies spending less on defense

ASSOCIATED PRESS
President Barack Obama speaks during a joint news conference with EU Council President Herman Van Rompuy and EU Commission President Jose Manuel Barroso at the EU-US summit meeting. President Barack Obama speaks during a joint news conference with EU Council President Herman Van Rompuy and EU Commission President Jose Manuel Barroso at the EU-US summit meeting.
ASSOCIATED PRESS Enlarge

BRUSSELS — President Barack Obama says he’s concerned that some NATO allies are reducing their spending on defense.

Obama says for collective defense to work, everybody has to pitch in. Obama says NATO can’t just be a U.S. or British exercise.

Obama spoke at a news conference with European Union leaders in Brussels amid concern about Russia’s annexation of the Ukrainian region of Crimea. Obama says the situation in Ukraine, in his words, “reminds us that our freedom isn’t free.

He says there are no immediate plans for a NATO expansion. Ukraine is not a NATO member.

Obama also met today with NATO Secretary General Anders Fogh Rasmussen (AHN’-derz fohg RAHS’-moo-sihn). Rasmussen says NATO will increase its military cooperation with Ukraine and help Ukraine modernize its military.


President highlights need for US-EU energy cooperation
A trans-Atlantic free trade deal would allow the European Union to reduce its dependence on Russian energy and strengthen its ability to stand up to Moscow on issues like Ukraine, U.S. President Barack Obama said Wednesday.

Several of the 28 EU nations regret their heavy dependence on Russian gas now that they are seeking to punish Moscow for its annexation of Ukraine’s Crimean Peninsula.

Obama showed his willingness to help with the EU’s energy quandary. “Once we have a trade agreement in place, export licenses for projects — for liquefied natural gas destined to Europe — would be much easier, something that’s obviously relevant in today’s geopolitical climate,” Obama said.

Currently, the EU imports more than a third of its gas from Russia and tapping into the plentiful supplies in the United States would alleviate a pressing problem.

While Russia’s economy would probably suffer even more from cutting off gas supplies to Europe in retaliation for tough economic sanctions, the mere prospect still scares EU leaders.

Providing more energy supplies would therefore also be a bargaining chip for Washington in the trans-Atlantic talks as both sides still have deep differences over a range of sectors, from farming to Hollywood movies.

It did not deter the 28-nation bloc from immediately reaching for the outstretched hand.

“We’ve asked the President to consider increasing the rhythm and scope of authorizations for export” of gas, said Joao Vale de Almeida, the EU ambassador in Washington.

However, Obama left no doubt that imports from the U.S. won’t be a silver bullet, insisting “Europe collectively has to examine it energy policies.”

Jose Manuel Barroso, the president of the EU’s executive arm, the Commission, said the two sides had agreed to hold a meeting on energy cooperation next Wednesday in Brussels.

The meeting will be chaired by U.S. Secretary of State John Kerry and his EU counterpart Catherine Ashton, he added.

The U.S. has in recent years experienced a boom in gas production thanks to shale gas extraction. It remains reluctant, however, on authorizing exports to countries it doesn’t have a free trade agreement with.

Experts say exporting more gas might lead to slightly higher gas prices in the U.S., but becoming a major exporter would also give the U.S. new geopolitical clout in the coming years. The first approved LNG export terminal at Sabine Pass, Louisiana, is scheduled to begin operations late next year.

Officials hope to conclude the Trans-Atlantic Trade and Investment Partnership, or TTIP, negotiations by the end of the year, but that timetable might prove optimistic because many stumbling blocks remain.

The combined trade between the United States and the EU accounts for almost half of the world’s gross domestic product and a third of world trade.

By embracing shale gas, the U.S. has seen falling both its dependence on foreign suppliers and energy prices. In densely populated Europe, however, shale gas exploitation through hydraulic fracturing, or fracking, remains very controversial because of concerns about possible environmental damage.

But the current tensions with Moscow are focusing minds.

“There will be a lot of people happy in Moscow if we fail on TTIP,” Vale de Almeida said.

___

Follow Raf Casert on Twitter at http://www.twitter.com/rcasert

Follow Juergen Baetz on Twitter at http://www.twitter.com/jbaetz



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories