WORLD events have led to a massive increase in fossil fuel prices, and the oil and gas sector is making a fortune. The taxpayer is picking up the tab because the windfall tax on the fossil fuel industry had strategically placed loopholes.
Because the Government ignored advice, there have been no bids for the latest offshore wind opportunities. Similarly, changes just announced to planning regulations are too weak to encourage enough onshore wind.
Those schemes would have provided much cheaper electricity than gas, and the fossil fuel companies will benefit once again.
The Government has also failed to change the pricing mechanism for electricity that would reduce costs to consumers, failed to change the rules around standing charges that would encourage efficiencies, and failed to ensure that infrastructure is in place to support electric vehicles that are much more energy efficient.
It cannot be a coincidence that all these failures benefit the oil and gas industry.
Where the Tories are succeeding is ensuring the fossil fuel giants have a licence to print money, or is it one hundred licences?
We won't benefit because British oil and gas will be sold at international rates, which will remain high.
Even now, the Government is calling us a world leader on Net Zero. It's a joke and it just gives countries we like to criticise an excuse for inaction. Everyone can point fingers at everyone else, and we fiddle as the world burns.