China holds the cards in US-EU poker

As the US shale industry struggles, energy sanctions targeting China are unlikely

Energy’s geopolitical and geo-economic importance means it is always at risk of becoming a pawn in wider strategic conflict. The standoff between Beijing, Washington and much of Europe—complicated by China’s ongoing crackdown on civil liberties in Hong Kong—is no different. Few pundits see a quick way out of a deepening conflict that encompasses several major issues including the coronavirus pandemic—for which many across the world blame China, either through genuine analysis of the transparency of Beijing’s handling of the outbreak, or because of convenient, populist blame-mongering—trade and digital spying. As Petroleum Economist went to press, the US and China introduced mutual visa restr