While OPEC has increased production to accommodate a growing global thirst for energy as the Covid pandemic recedes, Saudi Arabia has dismissed pleadings by the Biden administration to ramp up output further. Even as demand for fossil fuels continues to rise, investments by major Western oil companies in oil and gas exploration and production have lagged in recent years owing to the pandemic’s economic downturn and pressure by investors to divest from fossil fuels and return profits to shareholders.Beyond what sanctions on Russian oil and gas would do to prices, there is also the fear of retaliatory cyberattacks. One such attack from a Russian criminal group crippled the critica …
