Posted by on October 26, 2021 2:01 pm
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World Is Facing ‘Real Shortage of Energy’ That Could Lead to Social Unrest: Blackstone Co-Founder

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 …

Originally appeared on The Epoch Times

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