Posted on 10/26/2021 7:59:35 AM PDT by MNJohnnie
The world is facing a “real shortage of energy” that could lead to social unrest, according to Blackstone Inc. co-founder Stephen Schwarzman.
“We’re going to end up with a real shortage of energy,” he said at the fifth edition of the Future Investment Initiative in Riyadh, Saudi Arabia, on Tuesday, Bloomberg reported.
“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,” he added.
Schwarzman’s warning was echoed by chairman of BlackRock Inc., Larry Fink, who said there is a likelihood of oil soon reaching $100 a barrel, particularly in light of governments and investors directing their economies and energy systems away from fossil fuels.
“Inflation, we are in a new regime,” said Fink. “There are many structural reasons for that. Short-term policy related to environmentalism, in terms of restricting supply of hydrocarbons, has created energy inflation and we are going to be living with that for some time.”
Surging energy prices are currently playing out across the globe, with several European countries facing soaring energy bills amid a rise in commodities such as oil, natural gas, and coal.
Gas prices rose by more than 35 percent in September amid lower supplies of natural gas and a surge in demand as pandemic-hit economies around the world reopen, prompting fears that there is simply not enough gas stored up for the winter if temperatures were to be particularly cold in the northern hemisphere.
Lackluster output from Europe’s windmills and solar farms and maintenance work taking nuclear generators and other plans offline have also contributed to the energy price hike.
In Europe, supply levels were at 16 percent below the five-year average last month, a record low for that time of year, and European utilities have turned to coal to combat such shortages, even asking Russia for more supplies. As a consequence, coal is now trading at sky-high levels.
But it’s not just Europe that is battling with declining natural gas supplies. According to the Energy Information Administration, the level of gas in U.S. storage was 7.4 percent below the five-year average in September and 16.8 percent below the level at the same time last year.
China, which is almost totally reliant on coal, earlier this month moved to secure more supplies—including electricity and oil—as the country faces electricity supply issues that have forced factories to shut down and caused ongoing supply disruption issues to multiple large global companies.
Meanwhile, Goldman Sachs on Monday said a strong rebound in global oil demand could push Brent crude oil prices above its year-end forecast of $90 per barrel.
Brent crude was trading at $85.41 a barrel on Tuesday, as multiple large consumers such as the United States, Japan, and India, have urged producers to pump more. Gas futures in Asia and Europe also reached record highs this month.
Goldman Sachs Group Chief Executive Officer David Solomon said on Tuesday that concerns were already mounting that the world would enter a period of higher inflation and slowing growth.
Amin Nasser, Chief Executive Officer of Aramco, the world’s biggest oil company, also reiterated the need to produce more, noting that a decrease in global oil output is a “huge concern.”
“The spare capacity is shrinking,” Nasser said in an interview in Riyadh, Bloomberg reported. “It’s now getting to a situation where there’s limited supply—whatever is left that’s spare is declining rapidly.”
The company is investing billions of dollars to increase oil production capacity to 13 million barrels per day by 2027.
Despite growing concerns over increased prices for everything from gas to food, the U.S. Federal Reserve and many economists maintain that the recent spike in inflation is “transitory,” and merely reflective of the ongoing effects of supply-chain breakdowns during the pandemic and shifts in consumer demand.
Yep. And where does that leave us?
That is really what I’m getting at. This is really gonna leave a mark. And soon...
IN OTHER WORDS blackstone will ensure it and create some more bargains for them to scoop up.
They’re fine with it for now. But when the obvious downturn takes place, they’re gonna be a bunch of whiney, angry, crybabies. And they just won’t understand why. Only Orange man bad, insurrection, and that’s all that matters.
Don’t forget making homeowners unable to pay for their energy, add on unrealized capital gains each year, inflating the currency to make sure housing prices rise dramatically, forcing a sale, then buying up the homes and renting them back to former homeowners.
Imagine government managing the energy market and in control.
Who could have imagined that we end up with energy shortages or empty shelves?
http://www.neilaburns.com/wp-content/uploads/2017/07/Soviet.jpg
But you know what the answer is, right?
More government!!!
There is no shortage of energy, merely a shortage on the allowable energy to be provided via regulations/laws/BS.
At least there is no shortage of dumbass is DC.
Oil is only at $84/barrel, which is really only an average price over the last 15 years. its been as high as $145/barrel in 2008
Why then are governments (and hence media) freaking out already?
Probably because they know the destruction ESG, climate-fraud regulation, politics and fiat money have caused to the energy sector.
https://rumble.com/vn7lf5-monopoly-who-owns-the-world-must-see.html
Blackrock and Vanguard pretty much own the world and the US Government. Congressmen are pretty much their employees along with everyone in every appointed position you can thing of.
They own the majority of all of the major banks as well.
So when you speak of 16 executive orders, you may as well speak of 16 Blackrock orders.
Worth repeating.....people should be killed over this. Just saying.
They are not fools. They are -evil- men, pushing a well thought out evil plan to centralize authoritarian control (which THEY believe is benevolent and fair, and best).
Their plan gives them permanent power, wealth beyond imagination and cements them permanently into place.
They are flat out evil.
You know it. That Davos “You will own nothing, and you’ll be happy” mentality.
‘Most people seem fine in our direction toward slavery.’
every person in the world is just fine with being pushed around if the right people are the ones doing the pushing...
human nature...
“Probably because they know the destruction ESG, climate-fraud regulation, politics and fiat money have caused to the energy sector.”
By design, this is not an unintended consequence.
There is NOT a shortage of energy. Rather this has all been orchestrated. Scamdemic, lockdowns, shutdowns, non-effective vaxes, labor shortages, supply chain disruptions and now energy shortages.
It’s all BS. We are being corralled like livestock and are all too willing to let it happen.
As I remember, it takes quite a while to build and get a nuke plant online. We DO need to get things moving.
That’s funny, I don’t remember us facing an energy shortage while President Trump was in office.
Fortunately, Peak Oil never happened. We have plenty to take up the slack until those plants are built.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
