Wednesday, 28 May 2008
Energywatch - See the Future
Normally I leave the energy posts to Mr Drew, but he is otherwise engaged in the sordid business of earning filthy lucre.
We had a post a few weeks ago on the scorched earth tactics Labour could employ to leave a terrible inheritance for the next government. High on the list was a ruinous energy policy.
Well today we have had a glimpse of the future;
- Power cuts as too much energy was demanded from the System
- Poor results from British Energy because of inoperable Nuclear Plants (glad I dumped that stock last month)
- Gordon Brown demanding more North Sea oil production even though he was the one to limit it through huge tax levies on exploration in the area
- Record petrol prices for drivers
- A fuel protest by hauliers in London yesterday
- A front page evening standard article declaring domestic average gas bills could soon reach £1000 a year
- A clean up bill for our past Nuclear plants estimated at £73 billion; yet we need a whole new generation.
This is indeed a disturbing picture, our energy crisis could start in just a couple of years if more nuclear plants go offline due to problems with the ageing equipment. Yet we are poorly placed to build more and their economic justification is not clear - do they really compete with oil even at $125 oil?
The government has left energy strategy on the shelf for its entire 10 years in power. This is yet another disgrace and one that we are now paying for dearly when you look at the list above.