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Monthly Archives: May 2016

National Grid faces funding crisis

Broken Grid

From the moment Britain’s energy supplies went into irreversible decline in 1999, the National Grid was doomed.  The only questions were about how long the process would take to unfold, and what we might do to replace it. The reason for this is quite simple – National Grid is funded …

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Just in case you thought the banking crisis was over…

EuroBank

Portuguese banks are set to be the next to require massive state handouts in the latest instalment of the global financial crash that first emerged in 2007.  Although massive government borrowing by countries like the USA and the UK, that still enjoy their own currencies helped stave off a complete …

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G7 – too little too late for the environment

G7 2016

The scientific evidence is clear enough.  Two degrees of global warming is now locked-in.  The best we could do now is to take action to avoid overshooting this dangerous upper limit.  Some scientists suggest we are looking at 4-5 degrees of warming; others say we could even reach 5-6 degrees.  …

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Trump’s energy policy is nonsensical

US Coal

Presidential hopeful Donald Trump’s energy policies have already been dismissed by environmentalists as devastating to the biosphere .  But Trump is unlikely to care, not least because a large part of his support comes from climate change deniers.  Far more damaging is the criticism from energy insiders that Trump’s policies are …

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Is Big Oil becoming financialised?

Finance

Financialisation of an industry or sector of the economy occurs when there is more money to be made out of the debts it carries than the goods and services it produces.  The housing sector, for example, has been financialised since deregulation began in the mid-1980s.  More recently, the hydraulic fracturing …

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Don’t bet on fracking just yet

Cash

Supporters of Fracking can take cold comfort from North Yorkshire’s approval of Third Energy’s plans to frack their KM8 well near Kirby Misperton, according to David Powell at New Economics Foundation: “The beleaguered fracking industry has spent five years watching lengthy slumps in both international gas prices and public support …

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Trump to pull out of the Paris Agreement

Donald Trump

The Obama Administration’s support for the Paris Agreement on climate change was seen as a major breakthrough even though opposition from the Republican Congress prevented a full climate change treaty.  But a Trump Presidency looks set to tear up the Agreement as part of the plan to “make America great …

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Getting their excuses in early

CameronOsborne

The claim that Britain faces an economic crisis in the event of a Brexit vote is widely seen as an integral part of “project fear”.  However, there might be a more sinister reason for the scaremongering. Figures from the Office for National Statistics this week show that the UK economy …

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The USA has no good choices in November

2016 Election

British attention on the US Primaries has focused on the remorseless rise of Donald Trump.  For the most part, the British verdict has been negative.  Even Prime Minister Cameron referred to Trump’s ideas as “stupid and divisive”.  The more Trump’s campaign has appeared to defy political gravity, the more alarmed …

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Fracking is a dangerous fantasy

Gas drilling

The myth of “Saudi America” is little more than a sick joke for people in the ghost towns at the heart of the US shale plays.  The fracking bubble has long since burst.  Most of the shale oil and gas firms have gone bust.  And now local communities have to …

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