The Globe and Mail reports in its Saturday edition that oil briefly reached $125 (U.S.) on Thursday after President Donald Trump announced the Strait of Hormuz blockade would last for months. The Globe's John Rapley writes that despite the oil spike, Canada faces a tough decision, with the UAE's recent exit from OPEC potentially offering some insight. For generations, the U.S. was a benign empire happy to allow Canada its sovereignty. That's now changed, and there's probably no going back. Canada's U.S. dependent industries, and the country itself, thus confront an existential dilemma. Ottawa's push to diversify markets and products aims to reduce dependence on the U.S. and strengthen Canada against economic coercion. As it establishes a sovereign wealth fund for economic resilience, Canada must choose between investing in existing major export industries or developing new ones. This decision could significantly affect the country's future as an independent state. The U.S. is now forging ahead into becoming what many commentators call a petrostate, meaning it wants to base America's energy system mostly on oil and gas, and use that as the foundation for the low-cost energy that would power an industrial renaissance.