More price rises on the waySir Keir Starmer struck an agreement to align the UK with the EU emissions trading scheme. This will bring higher prices for UK energy consumers – perhaps as much as £200 million per year. If we join the EU’s forthcoming second carbon trading scheme, EUETS2, there will be price rises elsewhere in the economy too. Unions warned of a jobs bloodbath if energy prices are not reduced. Meanwhile, it was revealed that Ed Miliband is planning to reintroduce the hated ‘boiler tax’. Finally, Ryanair warned that the burden of environmental policies would continue to push fares upwards. Nobody likes Net ZeroA former head of MI6 warned that Net Zero policies are a threat to national security. Donald Trump told Keir Starmer to call a halt the expansion of offshore wind. Greenery isn’t workingElectricity giant SSE announced that it would scale back investment in the grid, a blow to Mr Miliband’s plans to expand the renewables fleet. Another big renewables player, EDF, announced a review of its green projects, having suffered a number of setbacks in recent years. The floating offshore wind industry also seems to be in the doldrums, with prospects for expansion disappearing quickly. Bashing fossil fuels isn’t workingSeveral commentators noted the deleterious effects of the windfall tax on oil and gas firms, suggesting that it amounted to self-harm, given that oil and gas prices are no longer elevated. In Parliament, Aberdeenshire MP Harriet Cross noted that around 600 jobs have gone in the area in the last few weeks alone. Reform UK promised to incentivise new oil and gas exploration in the North Sea if they ever get into power. Scots why green?Scots were warned of more impending economic pain, as the costs of the SNP’s green fixation begin to bite.
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