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
come january. that is, what, six months away? can they really be ready for that? that remains to be seen. that depends, really, whether they can make or fill up all the tanks to 100% before the winter starts because then they can come through the winter and then if we ve got another six months until the next winter, so that gives them enough time to fully diversify their supply chain for gas and russian oil. and, ulrich, as we know, you represent german business. how are they reacting to this energy uncertainty? of course they also look at their production processes, what they might need to cut, what they can cut without destroying their business. so i think the companies who are heavily dependent on gas, they are actually making contingency plans in terms of how do we cope with certain levels of gas supply, be they more, be they less and then how to react in terms of their production planning in terms of their resources and the products they are producing. if consumers have to continu
so i think we ve moved back into a world of the cold war scenario and i think the population in germany feels that danger and they know they have to have a price to be paid to have stability, security and so on. so that is my prediction but we don t know what s going to happen. but i think there s been no real criticism of the sanctions from the public. well, on that note, ulrich hoppe, thank you very much for your time. much appreciated and i ll talk to you soon. thanks for having me, bye bye. but, of course, the energy crisis, it s not limited to europe, farfrom it. in america, prices are also on the up, despite an unprecedented six months of the extra oil being released from its reserves. so i ve been speaking to one industry expert who sits on america s national petroleum council, which advises the country s scretary of energy. she s also head of commoditiy strategy rbc markets. helima croft, a real pleasure having you on my show. thanks for your time.
of that changing, what s the impact likely to be for all of us? well, let s start in europe, because a little earlier i caught up with the director general of the german british chamber of industry and commerce. dr ulrich hoppe, a real pleasure having you on the show. ulrich, can we start with this, what happens onjuly 21st if the russians don t turn the gas back on? i think the german government will start with actually preparing for a rationing of gas. they have to then build plans up in how to deal with the coming winter and they have to then prioritise who gets gas in the first place and who gets it in the second place. currently it s the consumer in the first place and industry in the second but i think there will be a different compromise that will need to be found. ulrich, germany has said that they won t be using oil and gas from russia
with higher prices. so yes, there is uncertainty all around. if consumers have to continue to endure these soaring costs, do you think that might change attitudes towards the sanctions against russia in germany? it remains to be seen but i think. i don t think that will change the attitude towards the sanctions because the war in the ukraine and the russian aggression, that is too close. so i think we ve moved back into a world of the cold war scenario and i think the population in germany feels that danger and they know they have to have a price to be paid to have stability, security and so on. so that is my prediction but we don t know what s going to happen. but i think there s been no real criticism of the sanctions from the public. well, on that note, ulrich hoppe, thank you very much for your time. much appreciated and i ll talk to you soon. thanks for having me, bye bye. but, of course, the energy crisis, it s not limited