Finding fossil fuel alternative to Russian oil and gas makes short-term sense

It's a messy compromise, but the west needs to avoid a recession that would hit its longer term green plans

Do you feel lucky? That was the subliminal message of Alexander Novak when Russia's deputy prime minister channelled his inner Clint Eastwood to warn the west of the consequences of extending its sanctions to his country's oil.

No question, there was a hint of both bravado and desperation as Novak said it was possible - although not likely - that the cost of crude could hit $300 (227) a barrel. The measures imposed since the invasion of Ukraine are starting to bite.