Energy crisis will worsen inflation and prompt social unrest: Blackstone CEO

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The energy crisis will worsen inflation and make people very unhappy, prompting social unrest, billionaire Stephen Schwarzman, CEO of Blackstone.

are up 75% year-to-date, around $85 a barrel – and they could gain more, pushing up energy prices and everything else downstream.

Larry Fink, the CEO of BlackRock, the world's largest asset manager, also spoke at the conference. He told the audience there was a reasonable chance oil prices would reach $100 a barrel,"Inflation, we are in a new regime," he said."There are many structural reasons for that. Short-term policy related to environmentalism, in terms of restricting the supply of hydrocarbons, has created energy inflation, and we are going to be living with that for some time.

"We're not focusing on long-term solutions. We're not trying to change the world on a granular basis," Fink continued."We have these visions we could go from a brown world, and we could wake up tomorrow there'd be a green world, and that is not going to happen." Subscribe to push notifications

 

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百仕通(Blackstone)首席执行官、亿万富翁斯蒂芬·施瓦茨曼(Stephen Schwarzman)表示,能源危机将加剧通胀,让人们非常不快乐,引发社会动荡。

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