Leading investment firm co-founder warns global energy shortage is going to become so profound it will cause widespread social unrest
10/29/2021 / By JD Heyes
A co-founder of one of the world’s largest investment firms says that the global energy crunch is getting worse and liable to become so bad it will lead to major social unrest.
Blackstone Inc. co-founder Stephen Schwarzman said the world faces a “real shortage of energy” at the fifth edition of the Future Investment Initiative in Riyadh, Saudi Arabia on Tuesday, according to Bloomberg News.
“We’re going to end up with a real shortage of energy,” he said. “And when you have a shortage it’s just going to cost more and it’s probably going to cost a lot more. And when that happens you’re going to get very unhappy people around the world, in the emerging markets in particular.
His warning was repeated by BlackRock Inc. Chairman Larry Fink, head of the world’s largest asset management company, who speculated that oil would once again reach $100 a barrel though many governments are attempting to divest from fossil fuels.
https://www.climate.news/2021-10-29-global-energy-shortage-will-cause-social-unrest.html
