Richard Branson Updates: The Virgin Group’s founder said that everyone, including individuals and businesses, should do their part, and urged homes to reduce their heating and air conditioning by 1% “to support Ukraine.”Sir Richard Branson has advocated for reduced speed restrictions to minimise the West’s reliance on Russian energy, and has suggested that airlines may cancel certain flights to aid Ukraine.
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he Virgin Group’s founder advocated that countries reduce speed limits on highways by ten miles per hour “to encourage Ukraine.”He told CNBC that if all 31 countries that make up the International Energy Agency, including the United Kingdom, approved the proposal, it would have a major influence.Companies would be compelled to consume 510 percent less fuel, according to Branson, and this is one of several methods that would cut demand for petroleum.He urged businesses and individuals to do their part, urging households to reduce their heating and air conditioning usage by 1%.”If you’re an airline, perhaps [reducing] a handful of routes that aren’t profitable,” he continued.′′
If you spread it over all enterprises and everyone on the planet, the price of oil would plummet substantially, and we wouldn’t have to keep sending cheques to Putin.”Branson avoided directly addressing how the Virgin Group’s companies, including airline Virgin Atlantic and spaceflight company Virgin Galactic, will lower their own fuel consumption in the near future, instead speaking more broadly.Virgin Atlantic has already stated its intention to reach net-zero carbon emissions by 2050, but this was not mentioned in the interview.The cost of living would ‘dramatically decrease.'”If we can cut the West’s reliance on fuel by only 10%, that will free up something like three billion barrels of gasoline,” Branson remarked.”That will be enough to ensure that nations like Germany no longer have to import,” he added, referring to Europe’s reliance on Russian energy.Russia is a major source of energy for people all over the world.According to the International Energy Agency, the EU is particularly reliant, importing 45 percent of its gas from Russia in 2021.If demand for gasoline falls, prices would fall, and “the cost of life will come down considerably,” according to Branson.”This is a win situation for everyone, but especially for Ukraine,” he remarked.”Every day, young people are fighting and dying in Ukraine against Putin, who gets his war chest from us buying his oil, coal, and gas, and that needs to end as soon as possible.”His comments contradict those of other market observers, who feel that a rapid fall in Russian energy consumption could further destabilise already volatile energy prices.Branson claims that his initiatives represent the viewpoints of the B Team, a group of business leaders.He cofounded the non-profit in 2012 with the goal of achieving “corporate accountability.”