(OPINION) We are facing an unprecedented global energy crunch. Demand for energy is continually rising, and the production of energy is not keeping pace.
One of the biggest reasons for this is that large financial institutions have become extremely hesitant to fund any new energy projects that will add more carbon emissions to the environment. Instead, they want to fund projects that will help us transition to the new “green economy”, but meanwhile we are getting to a point where we will soon see widespread shortages of traditional forms of energy. So now we all get to suffer.
A lack of oil is pushing the price of gasoline to alarming heights, shortages of natural gas are already causing tremendous disruptions in Asia and Europe, we are being told that we are facing a propane “armageddon” this winter, and supplies of coal have dropped to dangerously low levels around the world.
In other words, we are potentially heading into the most painful global energy crisis in modern history. When CNN asked Blackstone CEO Stephen Schwarzman about this, he openly admitted that we are “going to end up with a real shortage of energy”…
Blackstone CEO Stephen Schwarzman warned Tuesday that high energy prices will likely set off social unrest around the world. “We’re going to end up with a real shortage of energy. And when you have a shortage, it’s going to cost more.
And it’s probably going to cost a lot more,” the private-equity billionaire told CNN International’s Richard Quest at a conference in Saudi Arabia. When the power goes out, people are not going to be happy. And people are really not going to be happy if it goes out for an extended period of time.
According to Schwarzman, we will soon see “very unhappy people” all over the globe… “You’re going to get very unhappy people around the world in the emerging markets in particular but in the developed world,” Schwarzman said at the Future Investment Initiative. “What happens then, Richard, is you’ve got real unrest. This challenges the political system and it’s all utterly unnecessary.” READ MORE