Events such as the Ukraine crisis and hostilities between China and Vietnam are driving home the old lesson that fossil fuels and peace don’t mix
Why doesn’t anyone do anything about the situation in Ukraine?
One reason is that Russia supplies one third of the European Unions oil and gas. The EU, in turn, represents 20% of the worlds economy, and any precipitous rise in the energy prices they pay is a very scary proposition.
In other words, oil and gas are both the fueling impetus for Vladimir Putins current forays and the reason for subsequent global inaction.