At first glance, the EU Commission’s suggestion that above-normal returns in the energy sector be taxed may seem like a reasonable and timely initiative.
Since its geopolitical turn, the European Commission has time and again reiterated the need for member states to level up the EU’s autonomous security and defence capabilities.
In early September, Gazprom announced an indefinite shutdown of the key Nord Stream 1 pipeline, which normally accounts for one-third of Russian gas imports into Europe.
In many states across Europe, fracking is banned due to nimbyism (reluctance to be the site of fracking themselves) and pressure from green groups, as well as caution and concern about the potential seismological, environmental and health impacts.
In a time where the future of the European Idea and an ever-closer European Union are heavily debated, the message sent by the implementation of the Nord Stream 2 pipeline from Russia to Germany is of highly symbolic significance.