This focus has sidelined another important development, however: portions of the European energy industry - a major pillar of the single market - are increasingly coming into Russian and Chinese hands.
The uptick in Moscow and Beijing's investments in nearly every aspect of Europe's energy industry-from fossil fuels to renewables and power generation to energy infrastructure-have drawn criticism from both within the EU and abroad. Particular concerns have been raised over European unity and unfair competition.
Longstanding geopolitical conflicts and Cold War-era rhetoric have fueled the uneasiness around Russian energy investment in Europe.
In May, U.S. Energy Secretary Rick Perryproposed a sanctions bill which would target companies, including a number of European firms, involved in the Nord Stream 2 project in an effort to stall construction on the controversial pipeline.
In contrast to Russia's targeted approach, Chinese energy investment in Europe is more expansive and diversified, with both fossil fuel and renewable projects throughout the continent.
In the long run, Europe's energy security could be compromised by increasing dependence on China and waning global competitiveness.
While Chinese energy investments in Europe have been increasingly spearheaded by private companies, this financial backing nevertheless reflects a clear political strategy of balancing China's domestic energy security and global environmental stewardship as well as enhancing Chinese enterprises' international profile.
https://www.zerohedge.com/news/2019-08-25/will-europe-ever-shake-its-dependence-russian-energy
The uptick in Moscow and Beijing's investments in nearly every aspect of Europe's energy industry-from fossil fuels to renewables and power generation to energy infrastructure-have drawn criticism from both within the EU and abroad. Particular concerns have been raised over European unity and unfair competition.
Longstanding geopolitical conflicts and Cold War-era rhetoric have fueled the uneasiness around Russian energy investment in Europe.
In May, U.S. Energy Secretary Rick Perryproposed a sanctions bill which would target companies, including a number of European firms, involved in the Nord Stream 2 project in an effort to stall construction on the controversial pipeline.
In contrast to Russia's targeted approach, Chinese energy investment in Europe is more expansive and diversified, with both fossil fuel and renewable projects throughout the continent.
In the long run, Europe's energy security could be compromised by increasing dependence on China and waning global competitiveness.
While Chinese energy investments in Europe have been increasingly spearheaded by private companies, this financial backing nevertheless reflects a clear political strategy of balancing China's domestic energy security and global environmental stewardship as well as enhancing Chinese enterprises' international profile.
https://www.zerohedge.com/news/2019-08-25/will-europe-ever-shake-its-dependence-russian-energy
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