Sir Richard Branson is calling on the UK’s government to prepare for the worst in the oil market, rather than sit back and allow a crisis to occur.
Branson is warning that slow response in preparation for the coming ‘oil crunch,’ which he predicts for 2015, could leave the world’s economy in an even worse state than the credit crunch did.
“This time, we do have the chance to prepare. The challenge is to use that time well,” to prepare for the oil crisis, Branson said.
Branson’s portfolio of company’s includes the Virgin Atlantic and Virgina America airline brands, as well as a Virgin Trains, a UK based rail company, all of which rely on the international energy market.