Posted on 09/18/2022 10:02:56 PM PDT by SmokingJoe
British Prime Minister Liz Truss on Thursday unveiled plans to freeze domestic energy bills for two years.
Truss also lifted a moratorium on fracking in a bid to secure increased energy supply.
The government said it would also review progress towards its target of net-zero carbon emissions by 2050.
Truss became Britain's prime minister on Tuesday, replacing Boris Johnson.
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What is Truss' energy plan? Truss announced a cap on consumer energy bills for two years in a package that could cost around 150 billion pounds ($173 billion, €173 billion). The plan will be funded by government borrowing.
Britain's new prime minister said that average household energy bills would be held at around 2,500 pounds a year for two years. An 80% leap in energy prices was predicted for October.
"This is the moment to be bold, we are facing a global energy crisis, and there are no cost-free options,"
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Moratorium on fracking, new North Sea licenses Truss said that new methods of supply would be introduced, with a moratorium on fracking being dropped. She said that over 100 new oil and gas exploration licenses would be issued for the North Sea.
"Energy over the past decade has not focused enough on securing supply," Truss said. "Extraordinary challenges call for extraordinary measures, ensuring that the United Kingdom is never in this situation again."
Britain was a net exporter of energy from the late 1980s to 2004 following the development of North Sea oil and gas fields, but production declined after peaking in 1999. Roughly 38% of the UK's energy is now imported.
Truss said that "decades of short-term thinking on energy" had left Britain dependent on imports.
(Excerpt) Read more at dw.com ...
Or open British coal mines. The UK has large coal.fields unused
That's a pretty high bar, but hey she might do it.
Boris spent all his time as PM trying to find a hair stylist and failed.
This is a good step forward.
I thought he was just looking for a comb!
Too little too late. The Brits are in for a hard winter and lots of pensioners may likely succumb to the effects of cold temperatures due to the lack of home heating. Will King Charles continue with his climate change blithering in the face of his subjects freezing to death remains to be seen.
You filthy sexist! Actually, I was thinking the same thing.
Same here!
Unfortunately most of the geologically suitable sites in the UK are either in densely populated areas or in national parks etc. The ban happened because of the vehement local opposition to the pilot exploratory schemes (not from the usual rentacrowd).
Although some schemes will probably now get through, it’s unlikely they’ll make a game-changing contribution
Nope.
The UK used to be one of the top producers o oil in the world.
Source of most of the oil?
The North Sea, where Norway continues to produce and export huge amounts of oil and natural for domestic use and exports.
https://www.regjeringen.no/en/topics/energy/oil-and-gas/norways-oil-history-in-5-minutes/id440538/
I am sure Liz Truss ( a very smart lady) knows a heck of a lot more about whee Britain's oil/gas reserves probably are at than some raving “green” leftist like you in America does.
Nope. You gotta start at some time. And Britain probably has some pretty big reserves.
They will be in a much better, stronger position on their local supply of energy than Germany in another couple of years.
The Brits are in for a hard winter and lots of pensioners may likely succumb to the effects of cold temperatures due to the lack of home heating
Nope.
Did you even read the article?
From the article and I quote:
“Truss announced a cap on consumer energy bills for two years in a package that could cost around 150 billion pounds ($173 billion, €173 billion).”
The government will subsidizer energy bills for the needy for the next 2 years, until new local productions comes online.
And they still have huge reserves:
Sorry, I should have made it clear that I was commenting only and specifically about fracking (which is, after all, the headline of the article!), not other methods of fossil fuel extraction. Of course you’re right that there are still unexploited reserves of undersea oil and gas. It’s specifically the terrestrial sites suitable for fracking which are sparse and locally politically contentious. And there are still, incidentally, massive reserves of coal, which may yet have its day again.
(And thank you, incidentally also, for calling me a leftist and assuming I’m American - both of which are unfamiliar experiences!)
"He said that when Cuadrilla had operated here, it had discovered that the geology of the UK was unsuited to widespread fracking operations. “No sensible investors” would take the risk of embarking on large projects here, he said. “It’s very challenging geology, compared with North America [where fracking is a major industry].
"Unlike the gas-bearing shale deposits in the US, the shale resource in the UK is 'heavily faulted and compartmentalised', making it far harder to exploit at any scale."
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