RE:RE:RE:RE:RE:RE:RE:Future pricing: Would you hedge? How much?I totally agree. Putin may have just put Russia into a penelty box that even a regime change won't get it out of.
The real shame of this is that the Russian people deserve better.
Russian oil and gas will still be a major player in the world economy even if they only supply China, North Korea and Belarus reducing their .total demand on the world supply.
It will be interesting to see how oil, gas, wheat even canola oil prices shake out. If you think the price of a barrel of oil has gone up you should check out the price of a gallon of canola oil lately.
It would seem that until the world gets its act together, Russia has made us all suffer.
The only way to ease that suffering is to be invested in the very commodities that are scarce like PEY and NG
Chins up chums. We are the lucky ones.
GLTA
Yasch22 wrote: For sure, "challenging" is the right word for Europe's goal to stop dependence on Russian oil and gas. As Houba points out, too, there are other commodities that can't be displaced over night. It's like Putin's got four aces -- oil, gas, fertilizer, wheat -- while Europe's still working on a straight flush (pardon for the pun).
So, Europe can't turn off Russian spigots overnight, or even by the end of 2022. It's just that Putin's war has put into motion all kinds of juggernauts that he won't be able to stop over the next few years.
1. Huge switch to other countries for oil and ng. The same goes for a switch to countries like Canada & USA for fertilizer and wheat.
2. Massive acceleration of renewable energy for home and industry.
3. Even greater urgency to switch from gasloine+diesel to electric transportation.
Putin has already lost big time, even if he pulls off a comeback against the Ukrainian army.