Eurasian nations have seen carbon emissions fall close to those of March 2020 which preceded the last recession, according to climate data company Kayrros which uses satellites to track greenhouse gases.

China’s emissions are lower than they were throughout 2021, when the majority of the world was in the grips of new Covid-19 variants, with CO2 levels hovering just above the time the pandemic first struck.

“High energy prices are stopping countries from growing their economies, said Kayrros.

So high energy prices create inflation which in turn cause higher rates and then recession. So one can only hope that the West has learnt something of the importance of having your own independent energy policy. Particularly those with their own abundant natural resources and the US and the UK stand out as two primary examples of counties which taken the wrong path as far as energy is concerned. So, it’s time for Geriartric Joe and Bonking Boris to get their acts together and resume their own independent energy policies which means licensing the resource companies to drill and frack to their hearts content.

Meanwhile in the real world, the stock market is inured to the plethora of doom and gloom and is progressing with a nice and calm rally. A fall in bond yields, crude prices and a rally in Bitcoin has been enough to provide markets with some short term relief. It’s just a question of how far the rally continues before the next inevitable down turn. Be careful out there.