CITY VIEWS: ARE YOU WORRIED ABOUT HIGHER OIL PRICES DERAILING THE ECONOMIC RECOVERY?
MALDWYN WORSLEY-TONKS | RED24
“The recovery will certainly slow down because higher oil prices push everybody’s costs up. That takes money out of the economy, which could be spent on things that boost the recovery.”
JONATHAN LEGG | GIANT INSURANCE
“Yes, it will. An increase in oil prices has an impact on everything. We are too dependant on oil, but the green, sustainable sources of energy can’t yet satisfy demand.”
TAIJI IWAI | TOKIO MARINE EUROPE INSURANCE
“Yes. Because of political turmoil in the Middle East, there are fears over the supply of oil. That increases the price and therefore damages the chances of recovery for the global economy.”