Jupiter's Buxton blames 'ESG zeitgeist' for energy crisis over Putin

Decade of high oil and gas prices

The current energy crisis has had “nothing to do with Putin”, said Richard Buxton, head of strategy, UK alpha for Jupiter Asset Management.

In a panel titled ‘What are the opportunities in the UK market' at the Square Mile Investment Conference today (27 September), Buxton argued that the "ESG net zero zeitgeist" was largely responsible for the energy crisis, calling Putin's actions "just the icing on the cake". Buxton stated: "We have been sleepwalking into an energy crisis for the last six or seven years. "Most of this decade is going to be high oil and gas prices because there is no supply response to the crisis." He suggested that some fossil fuels, such as natural gas, are "quite clean", and we should therefore "l...