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Agreement of 26 May 2004 between the Head of the Federal Department of Defence, Civil Protection, and Sport acting on behalf of the Swiss Federal Council and the Defence Minister of the Kingdom of the Netherlands on combined activities of the Swiss Air Force and the Royal Netherlands Air Force

A number of reflexions arise concerning the medium-term outlook : - energy savings : if the current trend of relatively low oil prices continues, Commission experts do not expect the Community to achieve its objectives for 1995 - energy efficiency may increase only by 15 % and not by 20 % as hoped ; - the transport sector alone may have a decisive impact on future oil requirements ; - trends in electricity generation : although present capacity is sufficient for short-term needs, the construction of new power stations must be decided upon now in order to meet the demand for electricity in the mid-1990s ; - solid fuels : European coal will be subjected to increasing pressure from cheaper imported coal ; - Community oil production : follo ...[+++]wing the current peaks in production, a downward trend is to be expected ; the trend in oil prices will have a decisive impact on the future of oil exploration and production in the Community ; - the situation in the Middle East still gives cause for concern - the position of OPEC : if crude oil prices stay within the US$ 20 to 25 range (1986 values), Commission experts estimate that OPEC's share of world oil requirements in 1985 could be between 22 million and 26 million barrels a day, compared with some 17 million barrels in 1985.