“So the consequences of energy shortage and therefore price escalation, all of the things that have been discussed here about the cost of living, the expectation of problems ahead, clearly need to be thought about in that context,” he said.
“We are in good shape for this winter. But as we said, the issue is not this winter. It will be the next one, because we are not going to have Russian gas.” He added.
CEO Bernard Looney, speaking at the same panel, agreed. Energy prices “are approaching unaffordability,” with some people already “spending 50% of their disposable income on energy or higher,” he said.
