Russia’s double energy whammy
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 6 September 2022
⏱️ 10 minutes
🧾️ Download transcript
Summary
Liz Truss will be the next UK prime minister after winning the Tory leadership race, Opec+ agreed on Monday to cut crude supply in a bid to prop up oil prices, Russia switched off Europe’s main gas pipeline until sanctions are lifted, and Singapore has become a haven for Chinese elite who are fleeing strict coronavirus lockdowns and potential blowback from geopolitical tensions.
Mentioned in this podcast:
Brussels pushes for EU-wide caps on gas price
Liz Truss to be UK prime minister after winning Tory leadership race
Opec+ agrees to cut crude supply in push to lift oil prices
Russia switches off Europe’s main gas pipeline until sanctions are lifted
Crazy Rich relocations: Singapore becomes a haven for Chinese elite
Twitter Space: Liz Truss will be UK prime minister. What should we expect?
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.8 | Good morning from the Financial Times. |
| 0:11.4 | Today is Tuesday, September 6th, and this is your FT News Briefing. |
| 0:18.6 | OPEC and its oil producing allies agreed to slash oil supplies, |
| 0:23.2 | and Europe is scrambling as the energy squeeze gets even tighter. |
| 0:27.6 | Plus, it's official, Britain's new Prime Minister is Liz Truss. |
| 0:32.0 | It's a very interesting and uncertain period of British politics. We're about to enter. |
| 0:36.6 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:47.5 | British Conservative Party members selected Liz Truss to replace Boris Johnson as their party leader |
| 0:53.6 | and next Prime Minister, and she has her work cut out for her. |
| 0:58.1 | Here's the FT's political editor, George Parker. |
| 1:01.2 | The thing that's dominating everything really, as far as Liz Truss is concerned, |
| 1:04.2 | is the economic crisis facing Britain, and the measures that she'll have to take to |
| 1:08.9 | address it, particularly in the field of energy bills. |
| 1:11.5 | And what we're learning is that Liz Truss is planning a really big intervention, |
| 1:15.6 | which will basically involve freezing energy bills for 27 million households, |
| 1:20.9 | at a cost which could run tens of billions of pounds, possibly as much as 100 billion pounds. |
| 1:25.6 | Okay, George, so coming up with these measures might be in her control, |
| 1:29.6 | but she can't really control inflation or monetary policy. |
| 1:34.1 | So what's her relationship going to be with the policy makers at the Bank of England? |
| 1:39.7 | Yeah, during the course of the campaign, Liz Truss seems to be going to war with various |
... |
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