UnNeutral Opinion | A fossil fuel crisis

We’re entering the next level of the fossil fuel crisis, and we don’t even realise

We’re in a fossil fuel crisis but we can’t solve it with more fossil fuels.

BBC News recently proposed some ideas to tackle Britain’s energy bill crisis — from capping energy profits, to selling clean energy at a discount. And I’m pretty much behind them all. 

But it feels like we’re shooting in the dark a little, when three main areas would help us collectively bring the country out of energy poverty (a priority for so many people who are at risk this winter) and into a brighter — and greener — energy future:

  1. By providing funding to help people afford to put their heating on this winter. Yes, the promised cap from the government is good news, but it needs to work harder to support those most at risk and should have been paid for from the extortionate £170 billion profits of the oil and gas sector. 
  2. By putting a price cap North Sea gas, which feeds half of Britain’s supply. Global prices are out of control and there’s little regulation to manage it. A cap would take away half the price problem instantaneously.
  3. By de-coupling the price of gas and the price of electricity by reforming the market. This would re-set out energy costs to last October’s more ‘normal’ levels — around 1/3 of the cost of this October’s bills.

While we continue to allow global markets to set the price we pay for our own gas — which is currently ten times higher than last year — we continue to ‘fuel’ windfall profits for oil and gas giants on the one hand, and energy bill misery on the other.