Feb 10, 2022

Why our energy prices have gone up!

Why our energy prices have gone up!

Yesterday Tory energy minister Kwasi Kwartang was fulminating about North Sea oil and gas, in order to be fear-mongering about Britain's "energy security" and the danger of having to rely on "imports from abroad".

The problem with Kwartang's little "energy security" narrative is that it's entirely at odds with reality.

During the energy crisis profiteering private energy companies have massively increased natural gas exports out of the UK, because private corporations are driven by profit accumulation, not by any desire to maintain the "energy security" of whichever country they're extracting resources from.

Later Rishi Sunak tells MPs it is impossible to “artificially” hold down energy prices.

Shell today announced their profits have increased by fourteen-fold and they plan to hand $8.5 billion back to shareholders.

The French government is taxing EDF energy €8.4 billion to cover the increase in price rises.

The UK government is not taxing our energy companies, they are issuing loans which we all have to pay back.

Big difference!