Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Fink Says High Energy Prices to Hasten Shift to Cleaner Fuel (1)

May 17, 2022, 5:46 PM

BlackRock Inc. Chief Executive Officer Larry Fink said higher oil prices will accelerate the switch to cleaner fuels and reduce the “green premium” paid for alternative energy.

“Its going to shift consumer preferences for carbon-based cars to electric cars,” Fink said Tuesday during a climate conference sponsored by MSCI Inc.

Fink, 69, discussed how the energy transition can’t happen in short political cycles and may take 20 to 30 years without the emergence of a “metamorphic technology.” He added that there are “seismic” opportunities in the shift to cleaner fuels and that BlackRock was investing in new energy technologies. ...