carbon taxation and threatening

As well as being top oil and gas producers, the Gulf monarchies are potential sources of green energy for the EU and likely frontrunners in the global energy transition. Yet, as I set out in a paper for ECFR in 2021, the EU initially underwhelmed in its engagement with these states as part of the European Green Deal. GCC capitals, in turn, were broadly hostile to a policy that they viewed as revolving around carbon taxation and threatening their economic survival, by focusing on a rapid phase-out of fossil fuels. But Russia’s all-out invasion of Ukraine changed the dynamics of energy geopolitics. The pressures of an imminent energy security crisis forced Europeans to become more attuned to GCC arguments that the energy transition should take place without major socio-economic instability. At the same time, while the GCC states intensified energy cooperation with Russia following the invasion, they also started to see more clearly that strategic energy relations สล็อต