BlackRock CEO Larry Fink told the BBC that oil at $150 a barrel would trigger a global recession. He linked this risk directly to persistent Iranian geopolitical threat and prolonged Middle East instability.
Fink said if Iran remains isolated, oil could stay above $100-and near $150-for years. That scenario carries 'profound implications' for growth, inflation, and living standards.
He dismissed parallels to the 2007-08 financial crisis-calling comparisons 'zero similarities'. BlackRock’s $14 trillion portfolio gives Fink rare macroeconomic visibility.
On energy, he urged nations to use all available sources pragmatically-but stressed cheap power is essential for AI scale-up. He criticized Europe’s inaction and called U.S. solar investment urgent.
Fink rejected an AI bubble, calling AI investment mandatory for U.S.-China tech dominance. He also argued AI will drive demand for electricians, plumbers, and welders-not just coders.
He challenged decades-old education orthodoxy: 'We overdid it' pushing college for everyone. Skilled trades, he said, deserve equal prestige and investment.