12 July 2024

Miliband’s economic assault

From the director

Dear readers, donors and subscribers,

With Ed Miliband at the reins of the energy department for just a week, things have taken a rapid turn for the worse, with the new man unleashing what could be mistaken for an all-out assault on the UK economy – details below. It remains unclear whether the Secretary of State was simply taking advantage of Keir Starmer’s absence at the NATO summit to do some freelance policymaking, or whether this is the settled will of the Cabinet, but the result is the same either way. The Prime Minister has expended a great deal of effort to convince everyone that he will prioritise economic growth. Mr Miliband has left that claim, if not in tatters, then at least severely damaged.

It seems likely that we are going to have a serious battle on our hands to keep the green fanatic tendency in the Government under control. As ever, regular donations are the best way you can help us to do this.

Best wishes

Andrew

As always, please don’t reply to this email address, which is not monitored.

The headlines

UK

• DESNZ junior ministers announced

• Stark to head Net Zero delivery quango

• Ban on North Sea drilling

• Coal mine cancelled

• Wealth fund, or spending fund?

Around the world

• VW to close EV factory

• Mercedes EV sales ‘in freefall’

Decarbonisation

• Brits still don’t know what Net Zero will involve

• Big wind demands more money

Etcetera

• The long and the short of wildfire trends

• Airport injunctions

UK

DESNZ junior ministers announced

Labour appointed as junior DESNZ ministers Lord Hunt (a former health administrator), Kerry Mccarthy (a solicitor and former director of Luton Airport), Michael Shanks (a former Modern Studies teacher), and Miatta Fahnbulleh (previously director of the very peculiar New Economics Foundation). Ms Fahnbulleh, in particular, has some wild views on the future of the energy system.

Stark to head Net Zero delivery quango

Chris Stark, resigned as Climate Change Committee CEO and appointed as head of the Carbon Trust just three months ago, took up the role of head of a new Net Zero delivery organisation. We at NZW published a review of the sorry history of his time at the CCC.

Ban on North Sea drilling

Ed Miliband got straight down to work, announcing a ban on new drilling in the North Sea, a policy that will inevitably increase emissions and costs, while putting large numbers of people out of work. Oil companies may sue.

Coal mine cancelled

Miliband’s next step was to cancel the proposed coal mine in Cumbria. Coming so soon after the North Sea debacle, the Government’s claim to be prioritising growth started to look unconvincing.

Wealth fund, or spending fund?

Labour launched what it called a National Wealth Fund. On closer examination, it appeared to be more of a National Spending Fund.

Around the world

VW to close EV factory

Volkswagen announced that it is considering closing its Brussels EV factory, which has been hit by poor demand.

Mercedes EV sales ‘in freefall’

Mercedes is another EV manufacturer to report a decline in EV sales, with some models down by more than 50%.

Decarbonisation

Brits still don’t know what Net Zero will involve

Nearly a year after Rishi Sunak promised to set out the truth about what Net Zero entails, most people still don’t know.

Big wind demands more money

Despite windfarms having enjoyed price rises of up to 60% last year, the green lobby seems to want even more subsidy. This seems to have a lot to do with growing periods of wind overproduction, and thus negative market prices, an issue that is increasingly concerning those in the industry. Expect to have to pay more for your power.

Etcetera

The long and the short of wildfire trends

Ralph Alexander looked at a paper on wildfires, and wondered at the strangely short period it had examined in reaching its headline-grabbing conclusions.

Airport injunctions

UK airports, including Heathrow and City, were granted court orders preventing demonstrators from trespassing anywhere on the airport grounds.

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