Amid a steep rise in gasoline and diesel prices across Germany, the Left party faction in the Bundestag has advocated for tapping the country’s strategic oil reserves. Janine Wissler, the faction’s vice‑chairwoman and spokesperson for economic policy, told the Funke Media Group’s Saturday papers that, “Because the situation in the Middle East is difficult to predict in the short‑ and medium term, it makes economic and energy‑policy sense to consider using the existing strategic oil reserves to guard against potential cost shocks”.
Wissler warned that a cost shock would materialise if inflation were to climb to a level detrimental to the economy. She added that the government is sometimes negligent rather than proactive, even though Germany currently holds enough reserves for about 90 days of supply. “If oil production in the Middle East falters, action is urgently needed” she said.
She further argued that the issue isn’t limited to oil deliveries alone; LNG prices could rise sharply, jeopardising gas storage for the coming winter. The government, according to Wissler, has not developed a clear strategy to address these risks. “The current energy policy of the federal government, especially under Energy Minister Reiche, offers little hope. Oil and gas companies have already exploited crises-just as they did after Russia’s attack on Ukraine-to generate massive profits”.
