What began as a “global energy crunch” one year ago, as we discussed with Will Kennedy in Episode #158, has now become a global energy crisis. It is putting energy consumers into severe financial distress and forcing governments around the world to intervene in all sorts of unprecedented ways, as we discussed in Episode #181, “Command Capitalism.” For much of Europe, it will be a very tough winter.
In this episode, Will returns to the show to explore the turmoil in energy and capital markets around the world, as well as how governments are responding to the crisis. We’ll also try to anticipate what will happen next.
As we sketch out, this crisis will ultimately accelerate the energy transition because that is truly the only way out of this mess. But it won’t be a straight path, it won’t be quick, and it won’t be easy.
This is a deep, dense, 90-minute-long conversation, so if you’re not a full subscriber yet, this would be a good time to join us! There are also more than 100 source references in the show notes for this episode, so be sure to log into our website using your subscriber credentials and check them out.
Guest: Will Kennedy is executive editor for energy and commodities at Bloomberg News overseeing the coverage of global markets in oil, gas, power, metals and agriculture. He’s been at Bloomberg for 17 years, first in Singapore, where he started covering shipping markets and then in London, where he led reporting on the oil industry for several years. He’s been in his current role since the start of 2020.
On Twitter: @wenkennedy
On the Web: Will Kennedy’s author page at Bloomberg
Recording date: September 7, 2022
Air date: October 12, 2022
Geek rating: 8
Teaser photo credit: The German chemical company BASF was forced to cut production. By Rolf Kickuth – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=98064920