New research from the University of Aberdeen highlights the case for prioritising UK oil & gas production over imports:
• ~4.7bn boe in West of Shetland
• Imports at 1970s levels
• Higher costs + emissions from LNG
• Challenging conditions need tailored fiscal policy
Decarbonising the world’s energy systems is a much harder task than advocates of the simplistic notion of “clean energy” believe.
What is the cost of energy in Britain and what can be done about it?
Read my latest paper here: https://t.co/E34ax3bzU2
Today we have summoned the Russian Ambassador. Russia’s violation of NATO airspace last week, striking a residential building in Romania, was reckless and dangerous. Its continued strikes across Ukraine show blatant disregard for civilian life.
The UK stands firmly with Ukraine, Romania and all NATO Allies.
Give it up Theresa. Your 'legacy' has been a liability. £192K in subsidies per year per job in wind and solar generation. You should hang your head in shame.
Britain has the assets - economic, diplomatic and cultural heft, as well as superb if under-resourced Armed Forces - to recover great power status. We just - currently - lack the leadership to do it.
https://t.co/f24AAGTsjy
When a government tries so hard to raise revenue by increasing taxes to fund a budget shortfall, it is often a sign that it lacks the capacity to use public funds efficiently and manage its finances effectively.
The claim that more renewables = cheaper bills is false. Gas for power costs ~£5bn and is trivial compared to the renewable subsidy + grid overhead. We’re de-industrialising and paying a fortune for unreliable power. (8/11)
UK has the highest industrial electricity prices in the world. Continuing this path risks economic catastrophe. Drastic action - far beyond current opposition plans - is needed. Laws need to be repealed, subsidies removed, contracts broken and assets left stranded (9/11)
After decades trying to break up Britain, and as her husband admits embezzling £400k, Nicola Sturgeon quits Scotland...to live in England
https://t.co/QKN7qmOb2d
More domestic oil won't reduce prices. More domestic gas will displace expensive LNG imports and so reduce prices. Zoom out and look at what's going to happen to renewables subsidies and grid integration costs. Our already high electricity prices are going to soar.
Here are two other UK power records:
1. Highest industrial energy costs in the world.
2. Second highest domestic energy costs in the world.
As E Miliband says, we’re setting an example for the rest of the world. Indeed we are. Which is why nobody is following us.
NEW: The Scottish Parliament has called for power over energy to be devolved away from Westminster, but been immediately knocked back by the UK Government 👇
@TrisOsborneMP But you're making the wrong calls. Renewables subsidies and grid integration costs are set to double to £40bn/yr by 2030/31. This compares to the cost of gas for electricity of about £5bn/yr.
See my latest for the IEA:
https://t.co/avQ329KSA5
Britain is a place where the government spends £30bn on carbon capture machines, bans new oil & gas licences in the North Sea and yet imports £billions of oil & gas from Norway (from the same sea), spends £57m on sun geoengineering research & plasters farmland with solar panels.
BREAKING: The UK Government has responded after the Scottish Parliament called for Westminster to devolve powers to hold a second independence referendum
A Downing Street spokesperson said the Labour Government 'does not support independence or another referendum'
"On an admirably clear podcast from the IFS, asking 'why is UK electricity so expensive?', Dieter Helm pointed to the basic impact of doubling the capacity on the grid to 120GW to accommodate intermittent renewables plus backup gas generation."
https://t.co/KGeFdztjQ1
🇮🇱🇱🇧 BREAKING:
Israel just launched Operation Arrows of Fire.
Schools closing across northern Israel tomorrow. Beirut evacuating tonight. The IDF Home Front Command is telling its own civilians to prepare for what's coming.
This is either Netanyahu trying to sabotage the deal, or he's trying to cause as much damage as possible before ending the war at Trump's orders.
Trump can push for peace. He can't stop the next 48 hours.