EU Climate Policy Shields Economies from Oil Shocks, Study Finds
In the article, it's shown that the European Union's climate policy can help protect the EU from big increases in oil prices. By using a computer model to look at different situations, the researchers found that when the EU has a climate policy in place, it helps cushion the impact of rising oil prices on the EU's economy. This is because when businesses and governments in the EU use less oil, they aren't as affected by sudden price hikes the same way other countries might be. Essentially, the EU's climate policy acts like a shield against the negative effects of high oil prices.