Money Talks: Houston, we have a problem
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 9 March 2022
⏱️ 45 minutes
🧾️ Download transcript
Summary
As America and Britain announced embargoes on Russian energy, our global energy and climate innovation editor Vijay Vaitheeswaran talked to oil and gas industry leaders in Houston where jaws dropped and prices soared. He asks Jose Fernandez, US undersecretary of state for economic growth, and Fatih Birol, head of the International Energy Agency, whether the West can afford to ban Russian oil. As governments scramble to plug the shortfall, we talk to Scott Sheffield, head of Pioneer Natural Resources, and Vicki Hollub, chief executive of Occidental Petroleum, about whether this could be American shale’s big moment. And Bob Dudley, former boss of BP who now heads the Oil and Gas Climate Initiative, argues the rush for energy security doesn't necessarily put the energy transition on hold.
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Transcript
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| 0:00.0 | With so much uncertainty in the world, businesses need a solid plan that they can implement |
| 0:04.8 | quickly. |
| 0:05.8 | A plan that's ambitious enough to drive the scale of transformation with practical solutions |
| 0:10.4 | to provide real-world results. |
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| 0:26.8 | research, EY Parthenon and real-world strategy now. |
| 0:32.9 | Money to auctions from the economist is sponsored by InvestAlberta, looking to expand your |
| 0:37.6 | business into North America, come to one of the continent's most business-friendly locations, |
| 0:42.6 | Alberta. |
| 0:43.6 | With the lowest corporate income tax rate in Canada, fueled by smart talent in dynamic |
| 0:47.9 | cities like Calgary and Edmonton and the youngest workforce in Canada, Alberta is a strategic |
| 0:53.1 | gateway for doing business throughout North America and beyond. |
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| 1:00.6 | Big, bold, Alberta. |
| 1:09.1 | The West has pulled the trigger on the energy weapon, hoping to exploit Vladimir Putin's |
| 1:15.4 | greatest vulnerability. |
| 1:17.6 | Russia warns that the impact will be catastrophic. |
| 1:22.0 | This week, the cost of crude oil hit a 14-year high at nearly $140 a barrel. |
| 1:29.0 | But with an embargo, Russia says that figure could more than double. |
| 1:36.4 | This is Money Tolls from the economist, a weekly podcast on the markets, the economy and |
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