Good news for those who buy their electricity from Shell I guess

Sir Simon’s latest wheeze:

Like the banks during the 2008 crisis, energy companies are oligopolies that cannot expect to escape public regulation, least of all when blessed with a political bonanza. The answer must be to slash the price cap and demand the companies spend their profits directly on cutting bills. The wimps of Ofgem, the industry regulator, must become tigers. They know that these companies – and their executives – are now wealthy. They know investment is not at issue: they are distributing massive profits and buying back shares. Unless the west goes collectively mad, energy supplies, and profits with them, will return to normal.

The folks making the money are the initial energy producers. Wind turbines, solar farms, oil and gas companies. The folks supplying the retail electricity are all going bust because of the price cap.

There’s a certain confusion to Sir Simon’s suggestion, no?

13 thoughts on “Good news for those who buy their electricity from Shell I guess”

  1. “Unless the west goes collectively mad, energy supplies, and profits with them, will return to normal.”

    But the West HAS gone collectively mad, and “normal” is long gone.

  2. He’s stupid, that’s hardly news, he’s been stupid as long as I can remember. Stupid, or bought. Probably both, you’d have to be.

    The entire media are bought.

    See this about the impending collapse of road freight in the US (and elsewhere) and then try to find coverage of this monumental story – the looming forced impoverishment and perhaps even starvation of people in the world’s richest country – in the mainstream media.

    Daft shit said by people like this rather pales.

  3. @bobby b

    “But the West HAS gone collectively mad, and “normal” is long gone.”

    Quite. The question is really whether people like Jenkins and the rest of the media and our ‘leaders’ survive the absolute anarchy they’re about to create. I think they have visions of millions of people just chuntering as they adjust the regrettable collapse of their hopes, dreams and food supply, while the great planners continue eating at the Savoy. I wouldn’t be surprised if the Savoy is burned to the ground inside two years.

  4. I can understand his ignorance; it’s not like Enron or the California Energy Crisis were a big deal or anything…

  5. Interested, thanks for the link – Although we will be paying for all this shit, it is a bit heartening to see someone doing to Warren Buffet what Warren Buffet has been doing to the people trying to build oil pipelines across North America for the last few decades.

    As shown in the link, there’s lots going on that we don’t know about but i’m glad the elites have flown into Davos to decide what we are going to have to do without / pay way more for, to solve global warmimng.

  6. There is no evidence of energy sanctions altering Russian policy or benefiting Ukraine. There is overwhelming evidence they have hurt poorer Britons – and deeply.

    But Ukraine is the frontline of freedom and democracy and transgender rights itself, and if we don’t fight the Russians in a proxy war to the last Ukrainian, the Red Army – which is too pathetic to conquer Kyiv – will soon be goose-stepping all over Western Europe and squatting Adiddasly in our liberal values.

    I know this because Liz Truss, Joe Biden, Klaus Schwab and other trusted individuals who only have our best interests at heart told me so, and because I refuse to learn anything from all the previous crises they created.

    Incidentally, has anybody asked what profits the Americans expect to make after successfully manipulating Europe into buying their eye-wateringly expensive LNG that’ll structuralise fuel poverty and put German industries out of business?

  7. Meanwhile, the Eternal Pole has a much more ambitious plan than a one-off tax grab:

    Polish PM Calls on Norway to Share Oil and Gas Profits Windfall

    The Polish head of government – a neocon colonised outfit which has been extremely eager to escalate and internationalise the Ukrainian war and is chomping at the bit saying “Lemme at em, Uncle Sam”, mind – thinks those bastards in the fjords should sell Poland gas at a fraction of its market value to help Pol-… eh, Ukraine, would you believe?

    “But should we be paying Norway gigantic money for gas — four or five times more than we paid a year ago? This is sick,” he said. “They should share these excess profits. It’s not normal, it’s unjust. This is an indirect preying on the war started by Putin.”

    Did the baby-eating ogre Vladimir Putler shut down gas deliveries to Poland and force them to buy expensive energy elsewhere? Not exactly:

    Poland will later this year complete a gas pipeline from Norway that’s set to help it replace the supply of the fuel from Russia — cut last month following Poland’s refusal to pay in rubles.

    But windfall taxes, or aggressive begging against energy exporters, are a lot cheaper than admitting you fucked up badly and millions of Pole proles are going to suffer the consequences.

  8. And Norway has committed the cardinal sin of refusing to join the EU, making it far harder to send in the gauleiters. Again.

    How can the EU implement a single common energy policy, without invading Norway?

  9. ‘… and demand the companies spend their profits directly on cutting bills.’

    Profit is a residue, what’s left after all else has been ‘spent’.

    Governments have engineered high energy prices to get us to stop using as much – to save the Planet. So we should all be celebrating high energy prices – no?

    So-called alternative, ‘sustainable’ energy is insufficient to maintain our current levels of consumption, or to allow developing Countries from increasing theirs. This too is deliberate because our consumption is ‘using up’ the Earth’s resources, therefore we have to stop this at once! and impoverish ourselves, keep poor Countries poor to save the Planet.

    How is it that the Commentariat don’t understand this? Just how much clearer do politicians, Green Fascists, WEF slimeballs, and other useful idiots like the Clown Prince of Windsor have to be?

  10. @Steve
    btw Putin is a Klaus Schwab WEF young leader


    Thanks for link

    For non-USA diesel exhaust fluid (DEF) is Ad-Blu (Urea fluid). No shortage in UK. Supermarkets have stacks of 10L/20L containers

    I believe Biden admin is deliberately causing shortages, inflation and poverty to provoke insurection then impose martial law

  11. Why not simply call him Simon Jenkins? This is an international blog written from somewhere in Portugal. Sirs and Dames don’t cut it anywhere else. Your metaphorical touch of the forelock is sadly out of date. If anyone from my generation had to call him Sir Mick Jagger…

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