Rising energy prices are likely to linger for some time, posing one of the most serious challenges to the global economic recovery and raising the potential risk of social unrest, some of the world’s top executives said on the first day of Saudi Arabia’s flagship investment forum.
“We’re going to end up with a real shortage of energy,” Blackstone Inc. co-founder Stephen Schwarzman said as the fifth edition of the Future Investment Initiative got under way in Riyadh on Tuesday. “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.”
