Showing posts with label Oil. Show all posts
Showing posts with label Oil. Show all posts

Thursday, 17 December 2015

Knave or fool: David Cameron and climate change

It seemed an extraordinary boon: this morning, the cost of fuel at my favourite petrol station was below a pound a litre, for the first time in years.

It makes the point about the glut of oil on world markets. There’s so much of it around that prices are just collapsing. In principle, that would be good. If we were really beginning to wean ourselves off the stuff, supply would indeed outstrip demand. Weaning, however, seems unlikely to be happening. If there’s a drop in consumption at all, it’s much more likely to be down to economic slowdown rather than changing habits.

On the other hand, we can take a great deal of satisfaction from one recent event. On 12 December, the climate change conference adopted the Paris Agreement and, for the first time, gave the world some hope that nations at last had the will to tackle global warming. As UK Prime Minister David Cameron, said the accord represented “a huge step forward in helping to secure the future of our planet”.

Indeed, he went on to point out how the government he leads is working towards achieving the objectives of the agreement:

Britain is already leading the way in work to cut emissions and help less developed countries cut theirs and this global deal now means that the whole world has signed to play its part in halting climate change.

This makes it all the more interesting that less than a week later, his government won parliamentary approval for an extension of fracking operations in the country. In particular, it allows fracking under national parks or sites of special scientific interest.

Area newly authorised for fracking
Just what we need?
So at a time when there’s a glut of oil on the world market, and within days of a new agreement aimed at reducing dependence on the fuel, Cameron wants to see companies extracting more of it in Britain. He wants that to happen despite the oil glut, the possible damage to some extraordinary parts of the country, and his warm words welcoming the Paris Agreement.

His government followed up that initiative with another which would cut the subsidy previously available in Britain for solar panels by 65%. So Cameron’s government also wants to reduce the pursuit of alternatives to fossil fuels, just as he authorises further operations to extract more of them. But “Britain is already leading the way in work to cut emissions”?

Is it simply that he’s completely brazen in his hypocrisy? Or is he just too intellectually challenged to see his own incoherence?

Wednesday, 17 December 2014

Beware the Russian bear, especially when he's wounded

For the first time for over twenty years, I was woken from a dream which I had several times as a teenager or a young man. A dream of planes, large and somehow cumbersome, moving apparently slowly across the sky as they seem to do in films, though we all know they travel at speeds almost unimaginable on earth. The fly towards me and I know they’re about to drop nuclear weapons.

In the dream, cowering around the corner of a wall from the blast, I don’t hear the noise but see the blinding light, again as shown in countless films.

Russian bombers: the stuff of dreams
Now I attach no significance to dreams. All this one represents is preoccupations that have resurfaced in my life, in all our lives, and which had receded for quarter of a century. Because Russia has moved firmly back into the “watch this space” category: it’s going broke, it’s shown no hesitation about getting aggressive with other nations, and it’s nuclear-armed.

Yesterday the rouble lost half its value against the dollar. The Russian government took emergency measure after emergency measure against the failure of its currency, but couldn’t stop it, even when interest rates went up to 17% (you’d think somebody would want to invest for that return, but no one believes the fall has stopped – so they don’t invest and the fall continues).

Part of the problem is that the oil price is on the way down (curious that energy prices in Western countries haven’t yet started falling as dramatically – curious, but not at all surprising). And Russia remains as dependent on raw material as any third world country, specifically that raw material, oil.

The Russian government has done a great job of making a small number of people extremely wealthy, but has done little or nothing for most of the people.

Nothing like Britain, you see.

Strangely, Russian voters don’t seem able to grasp that they’ve put in power people who are going to fleece them, so they keep voting for them.

Again, not at all like Britain.

The second factor is making the situation a great deal worse: Western sanctions. Now, I can see a good argument for saying that Crimea ought to be part of Russia: it always was, and was handed over to Ukraine by Kruschev, in a clumsy act of arbitrary rule. On the other hand, I can see no good argument for saying that the problem should have been resolved by force of arms.

Nor can I see any good argument for infiltrating troops and arming lawless militias in other parts of Eastern Ukraine, but Russia keeps doing it. As a result, they’re under an increasing burden of sanctions, which are making a desperate financial position still worse.

But will this undermine Russian resolve to keep on stirring things up for Ukraine, and for the West?

t’s far more likely to have exactly the opposite effect. Voters already committed to Putin to the point of fanaticism, will in all probability back him still more strongly. And they’ll want to lash out against their perceived enemies more brutally, if only to make themselves feel less bad about themselves.

They’ll justify their position with words like “pride” and “honour”. We’ll probably hear expressions such as “it’s better to die on your feet than live on your knees.”

A man to inspire confidence. And reassurance about peace
That’s always struck me as a particularly short-sighted view. Die on your feet, and you don’t stay on your feet. Live on your knees and there’s a chance you might be able to get up again in a while. No one has ever stood up from being dead, except allegedly one man in Jerusalem a while back, and I’m not wholly convinced by the evidence I’ve been shown.

The sensible position would be for Russians to say “it’s bloody cold around here in the winter, and food prices are shocking already. Let’s come to an accommodation with the West and even with Ukraine, and live to fight another day.”

They won’t. There’ll be stiff backs and stiffer upper lips all over the place. Stiff necks too. And there’ll be a powerful surge of support for getting their retaliation in first.

Why would they stop with Ukraine, seen as a surrogate for the West, when they have the missiles to get at the West itself?

Because, and don’t you forget it, Russian’s nuclear-armed. Well nuclear-armed.

Sweet dreams, everyone.