I have a way to spend the ' £1bn for ‘carbon capture’, and £500m for ‘green hydrogen’. It might solve the wind and solar are unreliable and a long way away problems too.
Absolutely fascinating. Thank you. It’s clear that we need to build stuff and make stuff. It is equally clear that the institution least likely to make that happen is the government.
Instead it will throw away ever more of people’s money on ill thought through projects which were always doomed to fail.
I wrote a more flippant look at the new government’s hopeless energy policy and GB Energy here if you have any interest. Either way. Thanks for this.
North Sea oil and gas could never have been used to create a national wealth fund because they peaked at 3% of GDP in 1984 and fell to 0.5% of GDP by 1991, whereas oil and gas rents are between 10% and 15% of Norway's (much greater) GDP. Similarly, oil and gas rents weren't used to shrink the tax burden, which moved in the opposite direction in the 1980s.
I have a way to spend the ' £1bn for ‘carbon capture’, and £500m for ‘green hydrogen’. It might solve the wind and solar are unreliable and a long way away problems too.
https://ombreolivier.substack.com/p/batteries-and-energy-storage?r=7yrqz
Pretty sure the green blob would be very upset, especially the ones invested in EVs
Absolutely fascinating. Thank you. It’s clear that we need to build stuff and make stuff. It is equally clear that the institution least likely to make that happen is the government.
Instead it will throw away ever more of people’s money on ill thought through projects which were always doomed to fail.
I wrote a more flippant look at the new government’s hopeless energy policy and GB Energy here if you have any interest. Either way. Thanks for this.
https://open.substack.com/pub/lowstatus/p/mental-energy?r=evzeq&utm_campaign=post&utm_medium=web
North Sea oil and gas could never have been used to create a national wealth fund because they peaked at 3% of GDP in 1984 and fell to 0.5% of GDP by 1991, whereas oil and gas rents are between 10% and 15% of Norway's (much greater) GDP. Similarly, oil and gas rents weren't used to shrink the tax burden, which moved in the opposite direction in the 1980s.
Obviously it would have been tiny relative to Norway’s per capita, but that isn’t the same as saying it could never have existed.