Lower energy costs will bolster economies worldwide and support the transition from fossil fuels to renewables, a new European Union (EU) report says. Even more, the landmark report says that the green-energy transition will be critical to preserving Europe’s economy. The Future of European Competitiveness report outlines the investments Europe would have to make to rescue its economy and remain on par with the United States and China.

The 300-page report also dedicates a fair amount of focus on the energy transition, the energy industry and the critical role it will play in decarbonizing Europe’s economy and making it more competitive on a global scale. With Mario Draghi, former Italian prime minister and former president of the…

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