I predicted in one of my postings a while back that unless we worked with the current energy supplying countries who are highly dependant upon fossil fuels for their income streams, we would see spiralling energy costs as we transitioned from fossil fuels dependency ie their main economic earner. I suggested we should take a longer term view to continued use of fossil fuels to give those countries time to replace their revenues streams dependency on fossil fuels. .
Yes we should have a strategy, it should be a global strategy which recognises and puts in place mechanisms to readjust fossil fuel dependency both for supplying and consuming economies. For example Russian turning the gas tap on and off for Europe was totally predictable as its spirals revenue streams upward facilitating recovery from Covid. Covid created low demand and resultant much lower revenue income. Russia has done it to the Ukraine repeatedly during the winters over prices. The EU now has a 40% dependency on Russian gas, made worse eg by Germany switching off it nuclear power stations etc, France undertaking essential maintenance of its nuclear power stations at a much heightened energy price point adding to the shortages etc. all for good reasons but creating a perfect storm. This is not going away........welcome to the future.
Does it really make any difference whether taxpayers subsidise fossil fuels directly or indirectly thru increased cost of living awards for government benefits and pension payments.........to make up for the COL increases.
Last edited by JohnHarris; 03/02/22 11:57 AM.
