Energy

Thursday

Emily Hill

How I finally learned to love my eco-home

Nine years ago, when I invested every-thing I had in a part-rent, part-buy, one-bedroom, government-backed eco-home which proved to be a boiling box in summer, my first instinct was to throw myself out of a window – but I couldn’t because they opened only ten centimetres. My second was to complain about it in The Spectator. Now, I return to update you on my energy bills. Prepare to turn green with envy. Friends who live successful sorts of lives – involving houses, spouses and gardens – exclaim ‘Oh, so you weren’t joking about living in a J.G. Ballard novel?’ when they come around for the book launches I host in

Saturday

Ross Clark

The problem with onshore wind farms

Remember how David Cameron’s government was going to end Nimbyism by having local communities vote for new housing developments on their doorsteps? That didn’t end so well. Last October, following a shock defeat in the Amersham by-election, the Prime Minister gave up on building more new homes in the shires in favour of reverting to the line of least political resistance: the old favourite of trying to solve the housing shortage by building more new homes on brownfield land in the North. Why, then, does the government think it will be any more successful trying to persuade us to accept wind farms on our doorsteps? Last week’s Energy Security Strategy

Monday

Mattia Nelles

Russia is trying to destroy Ukraine’s energy sector

We are seven weeks into the war and the level of destruction in Ukraine is mounting. Every single day we learn more about Russia’s scorched earth tactics and about the atrocities its forces have committed in the areas they once occupied. But with another Russian surge in Ukraine’s east looming, one trend is not sufficiently understood in the West. Over the past weeks, Russian air and missile strikes have deliberately targeted and destroyed key components of Ukraine’s critical civilian infrastructure, especially in the energy sector, in a bid to make the country collapse. In late March the Pentagon estimated that Russia had fired over 1,200 precision guided missiles into Ukraine.

Martin Gurdon

How to save money at the pump

If fuel prices are making you splenetic, the driving techniques designed to make that fuel go further might restore a degree of calm. Driving with economy in mind is all about smoothness, anticipation, being aware of your surroundings and not rushing things. Serial congestion means that, more often than not, an easy going journey is only fractionally slower than one where you’ve gone hell for leather. So, here are some driving techniques that will help keep down the petrol bills: Leave time to brake Harsh acceleration and braking will dent your car’s efficiency. Looking ahead and around you, so that you’re anticipating things that might bring you to a sudden stop

Thursday

Ross Clark

Will Britain’s new energy strategy keep the lights on?

Today’s Energy Security Strategy puts energy security at the heart of the debate over energy and environmental policy, where it always should have been. There is little question that the Russian invasion of Ukraine has brought about a big change to the tone of energy policy, but will today’s announcements really wean us off Russian oil and gas, and when? Moreover, will they ensure that we can keep the lights on as the government continues to commit itself to a policy of net zero carbon emissions by 2050? Here is a summary of the main points: 24 GW of installed nuclear power by 2050 The fact that the Prime Minister

Monday

Katy Balls

No. 10 prepares decades-long energy plan

The government’s delayed energy strategy is finally due to be released this week. The Prime Minister is due to unveil his plans on Thursday, which will supposedly ensure that the UK is self-reliant on energy supply after Russia’s invasion of Ukraine. Not that the proposals will lead to much change overnight. Instead, they are focussed on ensuring self-reliance in the long term – with many of the plans likely to take decades to come to fruition.  So, what’s on the agenda? Part of the reason the energy strategy has been delayed several times is a difference of opinion between the Department for Business, Energy & Industrial Strategy, No. 10 and the Treasury. The Chancellor initially queried proposals for increased nuclear

Thursday

Lionel Shriver

How to avoid heating your house

Spring commonly augers a quickening warmth, but for Britons this year the season coincides with a chilling marker: a 54 per cent rise in the energy price cap, bringing the average annual bill to nearly £2,000. By the next increase this autumn, that average will soar to £3,000. Thus what was, until recently, my annoying eccentricity could soon become standard practice: refusal to switch on the heating. Our gas-fired combi boiler functions pretty much as a water heater only. Above our thermometer downstairs I’ve taped a snipped-out Evening Standard headline, ‘Couple die in freezing home’. The joke wore off long ago. My husband is a moderate, civilised person. This perverse

Martin Vander Weyer Martin Vander Weyer

How men’s pants predict economic crashes

Should you happen to spot me these days lurking outside a Calvin Klein boutique, notebook in hand, I assure you I have a serious purpose. I’m applying the method of the former US Federal Reserve chairman Alan Greenspan, who relished statistical minutiae and believed that sales of men’s underpants – an item so out of sight that a chap could readily choose not to replace worn-out ones when he senses an economic pinch ahead – offer a reliable indicator of impending downturns. That’s precisely the sort of trend we need to watch right now, when the Office for Budget Responsibility tells us to expect UK growth at 3.8 per cent

The Spectator

Letters: To achieve net zero, we need to go nuclear

Nuclear future Sir: It is refreshing to see Martin Vander Weyer note that, properly and fully costed, nuclear power is cheaper than power from wind and solar sources (Any other business, 26 March). That is because, as he says, ‘wind and solar require excess capacity and battery storage to compensate for periods of low output’. It cannot be predicted when those periods of low output will occur, and the proportion of our electricity provided by wind at any one time can be anywhere between 2 per cent and 40 per cent. Martin supports the aim to meet 25 per cent of UK energy needs using nuclear by the net-zero deadline

Thursday

Martin Vander Weyer

The moral of P&O: too many strategic assets are in foreign hands

P & O once stood for ‘Peninsular and Oriental’, with pleasant connotations of sailings to Cadiz and Constantinople – but after the furious reaction to P&O Ferries’ sacking of 800 UK workers, to be replaced by cheaper overseas agency staff, you might think it stands for ‘Putin and his Oligarchs’. With the mad Russian warmonger filling every headline, now is not a good time to turn yourself into a high-profile hate figure. With the pandemic barely over, now’s also not a good moment to be caught brutalising your workforce. But the man behind this sacking decision did all that in spades. He is Sultan Ahmed bin Sulayem, chairman of Dubai-based

Charles Moore Charles Moore

The West needs to spread doubt and fear

Zakhar Prilepin is a well-known novelist in Russia and an ultra-nationalist warrior in Donbas. Once a member of the National Bolshevik party (yes, the left/right implications of its name are as bad as they sound), he is now a strong Putin supporter. He appeared on Russian state TV last Sunday to emphasise that the Russians should not try to appear nice and humane to the West (not a clear and present danger, one would have thought). Prilepin argued that Russia’s approach should be as harsh as possible: ‘If they [the West] are seriously afraid of the conflict with Russia, of WWIII, of nuclear war or the escalation of the conflict,

Monday

Michael Simmons

How much is Europe (still) paying Putin for oil?

When sanctions were imposed on Russia there was a big exception: Europe was still buying and paying for oil – leading to a bizarre situation. The West was doing everything it could to help Ukraine while still sending Putin hundreds of millions of dollars a day. But how much was that revenue worth to the Kremlin? As sanctions began to hit Russia, the price of Brent crude (the oil benchmark) soared to $130 a barrel, the highest since the 2008 financial crisis: an increase of over 90 per cent. It’s fallen since then but today it’s still sitting between $107 and $115 dollars a barrel – well above where it had been weeks

Thursday

Francis Pike

Turkmenistan may emerge as a global powerbroker

While the world is watching Ukraine, there is another former Soviet republic that has quietly undergone regime change. Turkmenistan’s 65-year-old former president, known, in the manner of a comic book superhero, as ‘The Protector’, stepped down in February. With Gurbanguly Berdymukhamedov’s departure, the Mejlis Assembly duly called for elections on 12 March. As regime changes go this one was hardly revolutionary. The Protector’s son, having just turned 40 (the minimum age at which a candidate can stand for the presidency) won the election at a canter. The only surprise was that Serdar, ‘The Son of the Nation’, won just 73 per cent of the vote compared to his father’s 97 per cent winning

Martin Vander Weyer Martin Vander Weyer

Biden is right: the crypto world needs to be controlled

President Biden’s executive order ‘Ensuring Responsible Development of Digital Assets’ won praise on all sides, an unfamiliar experience for one routinely dismissed these days as lacking the vigour or grip needed for presidential leadership. The order does little more than call for cross-government research into all things crypto. But in doing so it pleased bitcoin fanciers, NFT collectors and their ilk by acknowledging that their $3 trillion market is here to stay – while also giving comfort to sceptics who’d prefer to see crypto dealings brought under regulatory control like any other financial activity, rather than abandoned to the libertarian anarchy favoured by ardent cryptonauts. But that latter fantasy can’t

Wednesday

James Forsyth

The West has to bite its lip for Saudi oil

It would be ridiculous to claim that Boris Johnson’s visit to Saudi Arabia is not morally problematic. He is going to a country which held a mass execution for 81 people this weekend – a record number – and to visit a man who US intelligence blames for the brutal murder of the journalist Jamal Khashoggi. Yet, if the West wishes to reduce Vladimir Putin’s leverage – and stabilise the oil market – then it needs Saudi Arabia to pump more; no country has more spare capacity than Saudi Arabia, which could produce another 1.5 to 2 million barrels a day if it wanted to. The best solution is – obviously – for the

Friday

Justin Doherty

Why taking cold showers could help Ukraine

I found myself in Berlin at the weekend gasping for breath in a cold shower, doing my bit for Ukraine. Berliners are a phlegmatic bunch but the arrival of a European war two hours from their doorstep is triggering memories of much darker periods of conflict and stirring not-so-dormant feelings of solidarity and direct action. Could cold showers be the answer? Last week the German government undid decades of foreign policy, announcing massive investment in German defence spending and sending anti-tank and air defence weapons to Ukraine. Chancellor Olaf Scholz called Putin’s invasion a Zeitenwende, a ‘watershed moment’ as he pledged €100 billion to upgrade German’s defence forces and committed

Thursday

James Forsyth

Rising energy bills are a price worth paying to stop Putin

Nato countries are being careful not to do anything that Russia could claim is an act of war. Just look at the reluctance from the US to provide Ukraine with Polish fighter jets. Yet Britain and other Nato members are involved in a huge effort to break Vladimir Putin’s war machine through supplying Ukraine with weapons and imposing financial pressure on Moscow. Russia, a G20 country, has been severed from the world economy. It has now surpassed Iran as the most sanctioned country on Earth and it is beginning to occupy a similar economic position. The speed with which Russia has been hit by these economic measures has been a

Martin Vander Weyer Martin Vander Weyer

Is fracking the answer to the energy crisis?

I’ll approach the hot topic of a ban on Russian oil by way of personal anecdote: I’ve never been a soldier or a spook but I have twice found myself ensconced in secure Nato conference rooms. The first occasion was a group visit to the military alliance’s Brussels headquarters 42 years ago, when an unsmiling American defence expert introduced us to the concept of ‘Mutually Assured Destruction’ – whose acronym was the key to the tense but relatively stable Cold War stand-off. In simple terms, it would have been utter madness for either side to fire the first nuclear missile. The odds on that happening by Kremlin order or error

The Spectator

Which European countries are most reliant on Russian gas?

High commodity Nickel trading was suspended this week after prices rose to over $100,000 per tonne – double its previous peak of $50,000. How do other commodity prices compare with their peaks since the 2008 financial crisis? Previous peak Silver $43 Brent crude $140 Gold $1,853 Aluminium $3,124 Tin $33,015 This week Silver $26 Brent crude $139 Gold $2,050 Aluminium $3,849 Tin $50,025 Short squeeze The extraordinary rise in nickel prices was partly caused by a ‘short squeeze’, where investors try to exploit bets by other traders that prices would decrease. What notable stocks have experienced squeezes – and how much did their prices increase? Year Rise 1923 Piggly Wiggly

The Spectator

Letters: Britain must offer immediate sanctuary to Ukrainians

Unintended consequences Sir: The West has got it wrong when it comes to putting a stranglehold on Vladimir Putin (‘Putin’s rage’, 5 March). Harsh economic sanctions will ultimately punish millions of ordinary Russians, many of whom are poor and probably against the invasion of Ukraine. If the products Russian workers produce do not sell then those workers become unemployed and forced into poverty. That could quickly turn more Russian citizens against the West, strengthening support for Putin rather than weakening it, thus prolonging the occupation and hostilities. So far, the West hasn’t done a great deal regarding this invasion, other than turn the wheels of Putin’s propaganda machine for him.