This group brings together the best thinkers on energy and climate. Join us for smart, insightful posts and conversations about where the energy industry is and where it is going.

Tariq Siddiqui's picture
COO, Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

  • Member since 2021
  • 136 items added with 95,138 views
  • Mar 28, 2022

Larry Fink, CEO of BlackRock, the world's largest asset manager, thinks we are now seeing the beginning of the end of globalization. Now, it’s no longer relevant when the Globalization started. Instead, the new question is whether Russian President Vladimir Putin will end it.


  • Globalization was under attack on some level prior to Putin’s invasion of Ukraine. Most significantly, the global pandemic let us all see very clearly the vulnerabilities, especially with supply chains and our dependence on their global nature.
  • Aside from oil and gas, Russia is one of the world's largest suppliers of metals. Currently, governments and large corporations that imposed sanctions on Russia are now scrambling to obtain alternative supplies. Supplies in turn are tightening, resulting in dramatic upward price swings and costs that are passed on to consumers
  • The pandemic, along with geopolitical tensions with China and a US-China trade battle, had already driven many businesses to explore bringing their operations and relevant input materials closer to home,everyone is desperately calling for “independence”, whether it is of energy or other resources.
  • In Q2 2020, at the dramatic start of the pandemic, global trade was down 18.5%, compared to the same period the previous year.
  • BlackRock, which oversees more than $10 trillion, has already suspended the purchase of any Russian securities in its active or index portfolios.


Three decades ago, the US produced about 37% of the world's semiconductors, compared to 12 percent nowadays. Profit got in the way of strategic planning here. Cheap costs were chosen over independence, and that is the sacrifice of globalization.  Today, rather than the cheapest, easiest and greenest sources, there’ll probably be more of a premium on the safest and surest,









    No discussions yet. Start a discussion below.

    Tariq Siddiqui's picture
    Thank Tariq for the Post!
    Energy Central contributors share their experience and insights for the benefit of other Members (like you). Please show them your appreciation by leaving a comment, 'liking' this post, or following this Member.
    More posts from this member

    Get Published - Build a Following

    The Energy Central Power Industry Network is based on one core idea - power industry professionals helping each other and advancing the industry by sharing and learning from each other.

    If you have an experience or insight to share or have learned something from a conference or seminar, your peers and colleagues on Energy Central want to hear about it. It's also easy to share a link to an article you've liked or an industry resource that you think would be helpful.

                     Learn more about posting on Energy Central »