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Home » Karin Kneissl: Energy Wars & the Coming Collapse of Europe (Transcript)

Karin Kneissl: Energy Wars & the Coming Collapse of Europe (Transcript)

Read the full transcript of Austria’s former Foreign Minister Karin Kneissl’s interview on Greater Eurasia Podcast, August 10, 2026.

EDITOR’S NOTES: In this insightful discussion, Professor Glenn Diesen sits down with Karin Kneissl, Austria’s former Foreign Minister and head of the GORKI think tank, to examine the shift from geopolitics to geoeconomics amid intensifying global energy conflicts. Kneissl unpacks Europe’s self-inflicted vulnerabilities—from abandoning affordable Russian energy supplies to de-industrialization and eroding rule of law—warning of a broader continental decline in a multipolar world. The conversation highlights how energy wars, disrupted trade corridors, and failed adaptation to new power centers are accelerating Europe’s path toward potential collapse.

Introduction

GLENN DIESEN (00:00:00 – 00:00:11): Welcome back. We are joined today by Karin Kneissl, the former foreign minister of Austria, who now heads the think tank GORKI. So thank you for coming back on the program. It’s great to see you again.

KARIN KNEISSL (00:00:12 – 00:00:18): Thank you, Professor Diesen, for the invitation. And also the pleasure is mutual. Very glad to see you again.

From Geopolitics to Geoeconomics: Are We in an Energy War?

GLENN DIESEN (00:00:20 – 00:01:38): Well, we know that after the Cold War and the end of communism, a lot of scholars such as Edward Luttwak, they were arguing that we were now transitioning a bit from geopolitics to geoeconomics. That is that the countries would increasingly compete over the control of markets again. That is seeking technological leadership, industrial might, control over energy resources, physical transportation corridors, banks, payment systems, the currencies we trade in, et cetera. That is the economic instruments of power.

I guess with the overall logic that others should be more dependent on you and you should be less dependent on others. This is essentially how they extract political power. Anyways, as we now see the United States decline, these economic conflicts take on a much more coercive format. And again, not just with the tariffs, but we also now see with the war against Iran, against Russia, against Venezuela, they all seem to have a very strong economic component. And especially as strong energy component.

I was wondering, how are you reading, I guess, the commonality here? Are we in an energy war?

KARIN KNEISSL (00:01:40 – 00:02:45): Well, energy is the name of the game, and it has been at least for the last 120 years that way when we speak about fossil energy. Most probably when we think about energy in terms of water and grazing grounds for animals, because over millennia it was animals which produced energy, then it was always about energy to a certain extent.

But you correctly pointed out this shift from pure geopolitics to a more subtle form of geoeconomics. For at least 2 decades, I was teaching in my different courses the return of geography. From the end of an ideological confrontation, from the end of some sort of culture wars, Huntington’s clash, etc., geography was back.

And now we can say that energy as the basis of any economic activity, of any human existence, is definitely what is at stake. I would fully agree with you on that assessment.

Europe’s Energy Miscalculation

GLENN DIESEN (00:02:47 – 00:03:53): Well, for the Europeans though, they don’t seem to appreciate the central role of energy, which is ironic because the Industrial Revolution began in Europe. It has, well, energy has fueled all the different industrial revolutions and been the source of economic as well as military might, at least the economics.

So how easy the Europeans gave up on the cheap Russian energy and redefined effectively what is energy security. In the past, any academic in Europe would’ve cited energy security as meaning cheap and reliable supply of energy. Now energy security means cutting yourself off from Russia, even if it makes you more dependent on less reliable energy and more expensive energy from the US.

But does it surprise you how the Europeans essentially cut themselves off from energy in this way? I mean, this has been one of the sources of European success over the years.

KARIN KNEISSL (00:03:54 – 00:09:41): Yeah, well, I don’t want to dwell too much into the colonial history of Europe, but we all know that the continent of Europe, wherever it starts, wherever it ends, but let’s say it starts somewhere on the British Isles, it ends somewhere on what EU foreign borders are, Black Sea. Let’s assume this is Europe, then this is a poor continent. It’s not the wealthy continent like Africa. It’s not as wealthy as Southern America.

Why do I quote these 2? Because there we have arable soil, which is abundant. We have water resources and we do have all sorts of minerals. So the African continent is wealthy. And this was very much in the back of the mind of the European colonial powers. Everybody wanted to go to Africa. At a certain point in the 19th century, Germany was the latecomer among the colonial powers. They just grasped a little bit just before World War I.

But this is all due to the fact that Europe is a poor continent. Europe had to export its surplus of population, especially its, if I may say, angry young men who had to find some sort of activity. At a certain point in history, it was the Crusades to just get the second and third born out of the farm that was given to the firstborn. And at a later stage in history, it was the colonial empires that absorbed this surplus of European population.

But Europe as such is and was not a wealthy continent when we speak of arable soil. And when we speak of minerals, so speaking in financial terms, both hard and soft commodities. Hard commodities, minerals, soft commodities, agricultural products. And this is now coming very much to the surface.

I see a very explosive mix in Europe, not only when it comes to shortage of gas for the next heating season because the gas reserves, the gas storage basins are not filled as they should be.