Almost exactly a year ago I wrote the following blog saying that what the UK required was fundamental energy reform, not the tinkering that Sunak promised then that guaranteed profits for energy companies at ultimate cost to all of us.
We now know that both BP and Shell have made record profits, just as I predicted.
What we also know is that no politician has a real clue on how to approach this.
Why is it so hard for them to do the right thing?
I’ve been reflecting on yesterday’s political debacles. One of them was the fiasco of a plan presented by Rishi Sunak to support those who will suffer dramatic increases in energy prices in the coming months and years. My response was a Twitter thread, unusually for me, actually written on Twitter and therefore only easily reproducible via screenshot.
I started with this:
The discussion continued with me saying:
I am quite convinced that what we are seeing is evidence of complete market failure. We must have reform or this crisis will not go away.
But is Labor willing to suggest it? And the SNP will too? It’s up to both of you to rise to the challenge.
