Shell CEO Wael Sawan told CERAWeek in Houston that Europe will face fuel shortages starting in April as the Hormuz crisis cascades west. His timeline was specific: first South Asia, then Southeast Asia, then Northeast Asia, then Europe.
Aviation fuel prices have already doubled. Diesel is next, then gasoline. Brent is at $109.90. Sawan said governments need to stop reacting and start planning, adding that "the problem is we are more in reaction mode."
He also warned against policy moves that could "magnify the impact" of supply disruptions. And then the line that stuck: "You cannot have national security without energy security." Hard to argue with that when four Italian airports are already rationing jet fuel.
Shell CEO Sawan: "You Cannot Have National Security Without Energy Security"
Shell CEO Wael Sawan told CERAWeek in Houston that Europe will face fuel shortages starting in April as the Hormuz crisis cascades west. His timeline was specific: first South Asia, then Southeast Asia, then Northeast Asia, then Europe.
