Oil at $150 will trigger global recession, says boss of financial BlackRock
5 hours ago
- #Global Economy
- #Energy Prices
- #Artificial Intelligence
- Oil at $150 a barrel could trigger a global recession, warns BlackRock CEO Larry Fink.
- High oil prices due to Middle East tensions could lead to years of economic instability.
- Countries should diversify energy sources to ensure cheap energy and economic growth.
- Fink denies any similarities between current market conditions and the 2007-08 financial crisis.
- Investment in AI is not a bubble, but energy costs could hinder its expansion in the US and Europe.
- AI will create jobs in trades like plumbing and electrician work, shifting focus from traditional office jobs.
- There's a need to rebalance education and career paths to value technical training over university degrees.