Like it or not, the world’s economy runs on fossil fuel. As of yet, scientists have not found a perpetual energy machine to match the perpetual motion machine they have been looking for forever. Green energy isn’t really green when you look at what is involved in its manufacture and what is involved in storing the energy for the times the wind doesn’t blow or the sun doesn’t shine. It may be practical and clean in the future, but we are not there yet. Finding cleaner ways to use fossil fuel and investigating nuclear fusion make much more sense right now.
On Saturday, Zero Hedge posted an article about the United Kingdom’s move away from their own natural resources.
The article reports:
- The UK government will introduce legislation banning new North Sea oil and gas exploration licences as part of its Energy Independence Bill.
- Critics argue the policy will increase Britain’s reliance on imported fossil fuels while damaging Scotland’s oil and gas industry.
- Rising oil prices and disruptions tied to the Iran conflict have intensified political pressure on Labour to reconsider the ban.
The government will make it illegal to grant new oil and gas licences in the North Sea, the King said at the state opening of Parliament, in a sign ministers are refusing to buckle in the face of a barrage of criticism that the policy is depriving the UK of billions of pounds in tax receipts without helping the environment.
…Oil and gas still accounts for three-quarters of the UK’s energy mix. And the majority of those fossil fuels are now shipped in from abroad, meaning other economies benefit from the job creation and tax receipts that are derived from the lucrative drilling and refining processes.
Calls for the ministers to rethink the ban have grown louder since the outbreak of war in Iran led the price of crude oil to nearly double in a month.
Last week, Norway, which drills for oil in the same area of the North Sea as Britain, approved plans to reopen three gasfields that had been shut for decades to help sate the global demand for fossil fuels caused by the closure of the Strait of Hormuz shipping lane.
Energy independence is a good idea for any country. It is a national security issue as well as an economic issue.


