In a speech at Repsol’s General Meeting of Shareholders, Antonio Brufau, its president, warned that Europe was not in the “right direction”. He considers it “Kafkaesque” to shut down nuclear plants and rebuild coal power plants because the planet needs to “decarbonize”.
Brufau believes that Europe is at risk and that this could take its toll and lose its place in the world market, which is mainly led by the United States of America and China. He also stated that the Union is concerned about the social side and “the need to decarbonise the planet” without neglecting the development of the European industry.
Repsol’s president also said that the decarbonization plans are based on a “very Europe-centric” vision. And that’s why he thinks there’s a risk that the industry will go to China or India in Europe. “They have been designed for Europe, to the northern center of the continent, and they certainly depend on the small 70% of the citizens of this planet that need to be cultivated, and that have mainly objectives other than decarbonization”, he asserted.
He warns that “we are losing the competitiveness of the manufacturing industry in the European society”. Therefore, in his opinion, Europe must “start new and different energy policies”, without neglecting the fight against climate change. In this way it will be able to achieve “the role of industry in this world context” in which China has raw materials.