i m going to be discussing all of that with these two, there they are, dr ulrich hoppe, the director general of the german british chamber of industry and commerce. and helima croft, a member of america s national petroleum council, which advises the us energy secretary on strategy. also on the show, the big boss of the middle east s oldest privately held oil and gas company, crescent petroleum, joins me to talk about those skyrocketing prices, energy supply and the impact of the war in ukraine. wherever you rejoining me from around the world, once again, a big hello and a warm welcome to the show. you know, they war between russia and ukraine is about to enter its sixth month. the human suffering on the ground has been massive and the economic consequences of the war and the sanctions imposed on russia, are spreading around the world. nowhere is it as stark as the oil and gas industry. vladimir putin s invasion of ukraine is causing energy prices to skyrocket around the worl
an energy emergency? energy companies across the continent warn of higher prices. limited rationing is already under way in germany as the supply from russia starts to drop off. in america, they ve released more oil to the market but is it enough to keep us all going? with more sanctions and cold weather on the way, are we looking at a perfect storm for the energy market? i m going to be discussing all of that with these two, there they are, dr ulrich hoppe, the director general of the german british chamber of industry and commerce. and helima croft, a member of america s national petroleum council, which advises the us energy secretary on strategy. also on the show, the big boss of the middle east s oldest privately held oil and gas company, crescent petroleum, joins me to talk about those skyrocketing prices, energy supply and the impact of the war in ukraine. wherever you rejoining me from around the world once again a big hello and a warm welcome to the show. you know, t
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the biggest german importer of russian gas, is asking the government for a bailout and warning customers about massive price rises. translation: german| consumers will be faced with a huge price wave. we have to repeat this over and over again. next week and already we will inform our clients about the current situation and tell them that significant price increases are to be expected. in isolated cases, we will not be able to rule out supply cuts as part of our existing contracts. the current situation leaves us with no other option. and the outlook? it s only going to get even more challenging as winter comes to europe, temperatures cool, demand rises and an even bigger set of sanctions kick in. later this year, european companies will no longer be able to insure ships carrying russian oil anywhere in the world. plus by the end of the year, europe is banning all oil imports from russia delivered by sea. plus, germany and poland
but some fear russia may not turn the gas back on as it is already reduced supplies to western europe. in germany, there s minor rationing of hot water and the dimming of streetlights. in fact, the country s economy minister says he s taking shorter showers and the boss of uniper, the biggest german importer of russian gas, is asking the government for a bailout and warning customers about massive price rises. translation: german consumers will be faced with a huge price wave. - we have to repeat this over and over again. next week already we will inform our clients about the current situation and tell them that significant price increases are to be expected. in isolated cases, we will not be able to rule out supply cuts as part of our existing contracts. the current situation leaves us with no other option. and the outlook? it s only going to get