18 October 2024

Germany’s auto giants: End of an era?

The headlines

UK

• Tory leadership contenders turn cold on Net Zero

• BP weighs sale of minority stake in its offshore wind business

• Reeves considers scrapping EV tax breaks

• Miriam Cates slams Net Zero targets

International

• Germany’s auto giants are struggling to stay relevant

• Billion barrel oil discoveries drive South American energy co-operation

• Norway court rejects environmental injunction

• Drill, baby, drill! Kamala Harris praises oil & gas extraction

Etcetera

• The Energy Crisis Commission is just another ‘green blob’ front

• Wild offshore wind predictions

• In the media

UK

Tory leadership contenders turn cold on Net Zero

Robert Jenrick was first out of the blocks this week in addressing how he would approach Net Zero. Reform of the Climate Change Act was necessary, he said in an interview for GB News. Kemi Badenoch followed this up shortly afterwards. Speaking on Talk, she rued how the target had been pushed through with just 90 minutes of debate in the House of Commons.

BP weighs sale of minority stake in its offshore wind business

BP is considering selling a minority stake in its offshore wind business, making it the latest company which appears to be shifting its approach towards meeting so-called ‘ESG’ commitments.

Reeves considers scrapping EV tax breaks

It has long been the case that green policies have tended to take from the poor to give to the rich. But could this be changing? Britain’s new Chancellor appears be considering removing lucrative tax breaks for electric vehicles.

Miriam Cates slams Net Zero targets

Miriam Cates has hit out at Labour’s race to Net Zero with a map showing how the UK is effectively offshoring carbon emissions by importing ‘dirty steel’ from China. The map, compiled by Our World in Data, shows the UK’s energy consumption embedded in traded goods to be 25 per cent at the end of 2020, one of the highest rates in the world.

International

Germany’s auto giants are struggling to stay relevant

The era of German ascendancy in the global automative industry appears to be coming to end, with Volkswagen, Mercedes-Benz Group and BMW all issuing profit warnings in recent weeks. The foolhardy and premature shift to EVs is a gamble that does not seem to be paying off.

Billion barrel oil discoveries drive South American energy co-operation

Two of the biggest oil industry hotpots, Guyana and Suriname, are discussing joint development of natural gas resources off the coasts of the neighbouring South American countries after finding billions of barrels of oil in their offshore sediment basin.

Norway court rejects environmental injunction

Green law-fare has been dealt a blow as Greenpeace and a group of associated climate activists were defeated in their efforts to sue the Norwegian government to prevent the development of new oil and gas sites.

Drill, baby, drill! Kamala Harris praises oil & gas extraction

Despite previously threatening so-called ‘Big Oil’ with criminal charges, the Democratic presidential nominee has changed her tune. Now she has described record-breaking increases in oil production as a key achievement of the Biden Administration.

Etcetera

The Energy Crisis Commission is just another ‘green blob’ front

In an article for the Daily Sceptic, blogger Ben Pile argues that a new report by the newly-created Energy Crisis Commission flies in the face of sound economics in proposing yet more renewables as way to get bills down.

Wild offshore wind predictions

New data from the financial accounts of the Moray West wind farm - shows just how wrong low-ball predictions of the cost of offshore wind are - predictions that are still used to claim ‘wind is cheap’.

In the media

Andrew was on Talk with Mike Graham, discussing the national security risks inherent in Ed Miliband’s rash charge towards Net Zero.

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