Energy policy still hamstrung by net zero dogma
31 July 2023
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Commenting on the government’s ‘Energy Week’ announcements on North Sea projects, Energy Analyst at the free market think tank the Institute of Economic Affairs Andy Mayer, said:
“The government’s commitment to ‘max out’ North Sea oil and gas production is a welcome step towards energy security. But the announcement of licenses for largely already committed projects will do little to encourage future investors frightened away by windfall taxes and the militant Net Zero consensus in Parliament.
“The Government has spent 13 years hugging huskies, declaring climate emergencies, and banning effective technologies before cleaner alternatives are ready. They’re borrowing money to subsidise energy prices and imports, while leaving the vital energy sources that could fund a more pragmatic transition, such as onshore gas, in the ground.
“Not being quite as mad as the Opposition and childish armageddon activists is a start, but much more required.”
ENDS
Notes to Editors
Contact: media@iea.org.uk / 07763 365520
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.
“The government’s commitment to ‘max out’ North Sea oil and gas production is a welcome step towards energy security. But the announcement of licenses for largely already committed projects will do little to encourage future investors frightened away by windfall taxes and the militant Net Zero consensus in Parliament.
“The Government has spent 13 years hugging huskies, declaring climate emergencies, and banning effective technologies before cleaner alternatives are ready. They’re borrowing money to subsidise energy prices and imports, while leaving the vital energy sources that could fund a more pragmatic transition, such as onshore gas, in the ground.
“Not being quite as mad as the Opposition and childish armageddon activists is a start, but much more required.”
ENDS
Notes to Editors
Contact: media@iea.org.uk / 07763 365520
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.
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