In regard to energy, the EU might benefit from having an
independent commission take a fresh look at the shale
revolution, and its potential risks and rewards in Europe.
Could European countries produce appreciable quantities
of shale gas and oil at an acceptable risk? Another aspect
worth examining anew is shale’s impact on the pace
of commercialization of renewable energy sources. A
successful US-EU Transatlantic Trade and Investment
Partnership permitting American energy exports amid a
growing global LNG market could greatly benefit European
energy security.
One area where greater US-EU dialogue could result
in greater leverage for both is in regard to the global
commons. There is an urgency to design new rules,
norms and codes of conduct in the realms of the future of
cyberspace, the Arctic, and outer space.
In particular, the gradual thawing of the Arctic resulting
from climate change is beginning to raise a whole set
of issues—both environmental and economic—that will
require shaping new international rules and norms over the
coming generation and beyond.
Transatlantic collaboration
on the Arctic will be critical. The Arctic Council, with a
relevant set of actors, may be an important venue to begin
a coordinated effort to shape a global consensus. Here, too,
the Nordic countries may have an opportunity to shape a
common transatlantic approach that could pay dividends.
In any case, the Arctic should increasingly be a focus of
US-EU dialogue.
Within Europe, there are a number of areas where both the
EU and particular European states outside the Eurozone
and NATO could carve distinct or niche roles:
- The Nordic countries and the Baltic states could have an impact on economic modernization in northwest Russia through interactions that incentivize best practices in business and finance;
- The Nordic countries may also be able to play a mediating role in Russia’s relations with the West; and
- Lastly, non-NATO states may enhance bilateral military-to-military ties with the United States, building on, for example, Sweden’s experience in Afghanistan.
