The first part of the BLUE SKY program «Interventions» on BLUE SKY, featuring Spiros Michalakakis, a native of Kythira and former president and CEO of BP Greece, as a guest.
Speaking with journalist Antonis Liaros, Mr. Michalakakis analyzed the highly volatile energy environment shaped by geopolitical conflicts, uncertainty in international markets, and Europe’s heavy reliance on imported and more expensive energy sources.
As he pointed out, any new tensions in oil-producing regions or along key transportation routes can directly affect international oil prices and, consequently, the cost of fuel, transportation, and production. These pressures ultimately fall on households and businesses, placing a burden on the economy as a whole.
Special mention was made of Greece’s difficult position, as the country remains vulnerable to international energy disruptions. Mr. Michalakakis emphasized the need to treat energy as a matter of national security and development policy, rather than solely as a market-regulated commodity.
European energy policy was also at the center of the discussion, as high energy costs limit the competitiveness of European industry compared to economies such as those of the United States and China.
According to his analysis, the energy transition is necessary, but it must be carried out with careful planning, adequate infrastructure, and safeguards for society. A hasty transition, without available and affordable alternatives, risks leading to new price hikes, energy poverty, and a loss of productive activity.
Spyros Michalakakis spoke in favor of a balanced energy mix, greater utilization of domestic resources, the expansion of self-generation and energy storage, as well as more substantial government intervention to keep costs in check.
