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Europe is facing a severe energy crisis due to the continued decline in its oil and gas reserves and its heavy dependence on imports from abroad, with 96% of its oil needs and 85% of its gas being imported. This crisis comes amid American threats to impose restrictions on diesel exports, especially after prices surged significantly due to the war in the Middle East and regional tensions, complicating the situation for the continent, which only has fuel reserves sufficient for about 60 days of oil, 66 days of gasoline, and 90 days of diesel. Additionally, Europe relies on more than half of its diesel imports from the United States, while it suffers from reduced Russian gas supplies and an increased dependence on liquefied natural gas (LNG) from the U.S., with rising energy costs negatively impacting the economy and citizens.
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