He\’s done it again:
Our fossil fuel habit leaves us hostage to global energy markets. The days of North Sea self-sufficiency are long gone.
Please Chris, could you go and spend more time with your mistress? Stop pleasuring yourself with these inanities?
You were, once, an economist, after all and you know these things.
We always sold N Sea production at global prices. Yes, gas is less fungible than oil but we always priced the gas in relation to the oil price anyway. So whether oil or gas came up out of the British sector of the North Sea, or the Norwegian, or Dutch, or was shipped in from Nigeria, Angloa, Venezuela or friggin\’ Timbuctoo by camel, we always paid the world price for our energy supplies.
As such, whether the stuff was bubbling up from under our own feet or was bought from Johnny Foreigner we were always \”hostage to global energy markets\”.
For fucks sake, we never did power ourselves off our own oil anyway, Brent\’s not the right type for the mix of fuels we want. We\’ve always sold half of our own consumption of N Sea oil overseas and replaced it with other differently densitied and differently sulphured oils so as to get that right mix out of our refineries.
And here\’s my problem: when Tony Benn was Minister for Energy we all knew that he didn\’t have a clue. You do so will you please stop fiddling with yourself behind that Ministerial desk and get with the real world?