The Ukraine invasion may be a push in the direction of more serious energy problems, emerging primarily from the fact that other countries will want to punish Russia. Russia holds huge power over the world economy due to the global reliance on Russian oil exports. Europe, in particular, cannot afford higher oil prices, and if interest rates are lifted, it could compound the problem. Russia’s attack on Ukraine represents a demand for a new world order that, over the long term, will support higher prices for fossil fuels, especially oil. Such an economy would probably be centered on Russia and China. The rest of the world economy, to the extent that it continues to exist, will largely have to get along without fossil fuels, […]