Like I said on FridayThey will sanction oil and gas. If not this weekend then probably by next week. Warmer weather will require less gas from Russia to Europe. By the Ides of March, they will have figured out how to get enough LNG to Europe to cover them through most of the summer, ensure US gets enough oil whether by ship or train and keep gasoline prices from sky rocketing.
All that needless to say will start all over again in a few short months meaning back to square one. Europe will negotiate contracts with Russia etc, etc....
The main thing that countries will need to do is secure their energy. They cannot afford an energy crises. This will be top priority for the world. All those Glasgow promises will be broken whether the world likes it or not. Look for the UN and WEF and Climate Finatics to double down in the next few months while countries start looking at breaking promises.
I think oil will stay high (above 80), for quite some time so might as well get used to it.
As for Canada, we need to get rid of Liberals and get a true energy policy in place. Energy East, TMX are a must, repel bills under Liberals for big ships and get rid of carbon tax.
IMO
GLTA