The headline says it all. Despite claiming ‘The original error was not with the science of climate change’ – well, we disagree there – the article charts the real course of the current energy fiasco quite well. Climate obsession has a lot to answer for.
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Putin may be the proximate cause of this crisis, but the reason we were vulnerable was an intentional policy to crush fossil fuel investment, says The Telegraph.
. . .
And now? Well, now, as “big oil” might say: “We just walked in to find you here with that sad look upon your face.”
Europe needs gas. It is pleading for gas.
Instead of flying media to gas fields to court capital, the oil and gas men are being flown to the capitals of Europe and begged to invest.
Despite the incredible prices, they hesitate.
The meeting goes like this: “We need you!” say the politicians. The producers scratch their heads as they mull $20 billion, 20-year investments, and wonder whether, when the war is over and the green bandwagon rolls back into town, the politicians will still sound so sweet on them.
“Your green targets still say we need to shut down by 2030,” they point out. To which Europe says: “Well, of course. Fossil fuels are evil!”
The upshot is that the market is broken and it is governments and do-gooders who broke it. They broke it wantonly, recklessly, touting their saintly intentions, and now we are all reaping the consequences.
The only way to resurrect it is with more government intervention.
Full aricle here.
via Tallbloke’s Talkshop
August 27, 2022 at 04:18AM