Soaring energy costs ‘to change how society operates’

ENERGY costs could increase up to tenfold over the next few years, profoundly changing the way business and society operate, a former Woolworths chief says.

Roger Corbett told a Queensland University of Technology business leaders’ forum in Brisbane today that rising energy costs would “no doubt” present challenges for the retailing and business sectors.


“Our lives in the Western world are absolutely dependent upon the unit energy cost, whatever it may be, most of all the petroleum costs,” Mr Corbett said.

“And I don’t think it’s ill-conceived to think in the next few years that energy cost may go up by a factor of five or 10 times – certainly five.

“And I think that’s going to make an immense difference to the way we all live our lives.

“The question of the cost of energy is going to be the big challenge to business in the years to come.”

The Courier-Mail