Ukraine crisis challenges oil industry caution at high prices

Worried about oil supply and global warming .

Makes alot of sense.

Not !

The world needs a concerted effort to find a new energy source; that much is obvious.

Russian supplies of LNG are a small percentage of total world exports.

In 2021 Russia was sixth for top exporters. Australia alone exports three times what Russia does.

Qatar and the US both export more than double Russian exports and the US is quickly expanding its export volume. Malaysia and Algeria each also export more LNG than Russia.

https://www.statista.com/statistics/1262074/global-lng-export-capacity-by-country/

Russia may end up selling its LNG to China, their savior. And as Australia's largest export destination is China, it can simply reroute enough LNG to satisfy European needs to replace whatever Russia was supplying. With the US and Qatar also able to increase supplies to Europe the energy crisis can be largely avoided.

Gasoline may be a different kettle of fish, but is also likely to be able to be dealt with.