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‘Thank God’ Oil Is Still Pumping Amid Inflation Scare, Dalio Says

Ray Dalio

Ray Dalio

Photographer: Jeenah Moon/Bloomberg
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Ray Dalio, the founder of hedge fund Bridgewater Associates, warned against transitioning away from fossil fuels too rapidly and said that cutting off the supply of finance to the industry would have a destabilizing effect as inflation soars.

“Thank God for the oil producers” because they are providing reliable supply, Dalio said Monday on a panel at the Abu Dhabi Sustainability Week summit.