Us Energy Secretary tells me how the world can tackle an Energy Crisis that is returning to knock the Global Economy off track. Also on the show, india its one of the worlds Fastest Growing economies, so can home grown Airline Vistara cash in on growing demand for flights despite High Oil Prices. Im going to check in with its big boss. Wherever you werejoining me from Around The World, once again, a big hello and a warm welcome to the show. You know, as the war in ukraine rages, one of the most noticeable impacts for the rest of the world continues to be the soaring costs of our energy. As europe approaches the cold winter months, which typically causes demand for oil and gas to surge, millions, millions of households and businesses are worried aboutjust how they are going to afford to pay their bills. Politicians in europe and across the rest of the world are trying to take action to limit the economic damage, but also come up with long term solutions. Two numbers explain the scale of
so the us energy secretary tells me how the world can tackle an energy crisis that is threatening to knock the global economy of track. also on the show, india, one of the world s fastest growing economies. so can home grown airline, vistara, can it cash in on soaring demand for flight, despite high oil prices? i m going to check in with its big boss. wherever you werejoining me from around the world, once again, a big hello and a warm welcome to the show. you know, as the war in ukraine rages, one of the most noticeable impacts for the rest of the world continues to be the soaring costs of our energy. as europe approaches the cold winter months, which typically causes demand for oil and gas to surge, millions, millions of households and businesses are worried about just how they are going to afford to pay their bills politicians in europe and across the rest of the world i trying to take action to limit the economic damage, but also come up with long term solutions. two numb
us energy secretary tells me how the world can tackle an energy crisis that is returning to knock the global economy off track. also on the show, india it s one of the world s fastest growing economies, so can home grown airline vistara cash in on growing demand for flights despite high oil prices. i m going to check in with its big boss. wherever you werejoining me from around the world, once again, a big hello and a warm welcome to the show. you know, as the war in ukraine rages, one of the most noticeable impacts for the rest of the world continues to be the soaring costs of our energy. as europe approaches the cold winter months, which typically causes demand for oil and gas to surge, millions, millions of households and businesses are worried aboutjust how they are going to afford to pay their bills. politicians in europe and across the rest of the world are trying to take action to limit the economic damage, but also come up with long term solutions. two numbers explain
when the time comes. it s already not bad and we hope prices won t go up more in the future. and these higher prices, we have already seen, mean the big energy companies are amongst the few winners from this crisis. in the first half of this year, five of the biggest western firms made a combined profit of more than $95 billion. that is almost three times what they made the same time last year. given that nearly $514 billion of support for struggling businesses and households has been committed to by the governments of the eu and the uk, it s little wonder they are looking to get hold of some of those profits. translation: there are windfall profits, excess profits which are made by energy producers who simply take advantage of the situation whereby the very expensive price for gas determines the price of electricity. therefore they earn a lot of money. so we firmly resolved to change the market structure in such a way that these windfall
translation: we were worried about the rising prices that - are going to happen, so we needed them to be capped, with a 15% is enough, i don t know. we will see when the time comes. it s already not bad and we hope prices would go up more in the future. not go up. and these higher prices, we have already seen, mean the big energy companies are amongst the few winners from this crisis. in the first half of this year, five of the biggest western firms made a combined profit of more than 95 billion dollars. that is almost three times what they made the time last year. given that nearly $514 billion of support for struggling businesses and households has been committed to by the governments of the eu and the uk, it s little wonder they are looking to get hold of some of those profits. translation: there are windfall profits, excess profits which are made by energy producers who simply take advantage of the situation whereby the very expensive price. where it determines the price of ele