Energy

Today marks the 31st anniversary of President Jimmy Carter’s famous ‘malaise’ speech. On July 15, 1979, Carter, then running for re-election against Ronald Reagan, ignored the advice of his campaign team and gave Americans a grave warning. The nation, he said, was facing a fundamental "crisis of confidence". (He didn’t actually use the word malaise.)   "Too many of us now tend to worship self-indulgence and consumption," he said. "Human identity is no longer defined by what one does, but by what one owns. But we've discovered that owning things and consuming things does not satisfy our longing for meaning.

Vince Cable is announcing to Metro that "We do not want to make such deep cuts to transport, energy, science research and universities." Really? According to whom? The science budget, which has shot from £1.3bn to an indefensible £3.7bn, is a prime example of a cost that should not be borne by the taxpayer. Scientists are best left to get on with this themselves, and companies are more than capable of funding research. On energy, again, there are many expensive vanity projects just begging for the axe. Given that Cable is in charge of the universities brief - the most important part of his otherwise non-job - you can expect him to want to protect it from cuts. But to lobby openly like this is not something that Theresa May or Liam Fox would do.

The President of the Maldives can sell his snorkel: he’ll be waving not drowning. The New Scientist carries a fascinating article, examining the research of Paul Kench of the University of Auckland and Arthur Webb of the South Pacific Applied Geoscience Commission. Using aerial photographs and high-resolution satellite images, Kench and Webb have found that 23 out of 27 low-lying Pacific islands, deemed to be vulnerable to rising sea levels, have grown by up to 10 percent in 40 years. Local sea levels have risen by 120 millimetres over the period. Coral is defying the apocalyptic flooding scenarios. Reef coral surrounding the islands is eroded and deposited to form atolls or coastal spurs.

Today the TaxPayers' Alliance is releasing a new report which sets out the huge and excessive burden that green taxes impose on families and business across the UK. At the moment, 14 percent of domestic bill costs are the result of climate change policies.  Increasing the price of energy hits the poor and elderly hardest - which, in turn, increases poverty and benefit dependency.  At the same time, 21 percent of industrial electricity bills are the result of climate change policies.  If we want to make our economy less dependent on financial services, driving up a major part of many manufacturing firms' costs isn't the way to do it. Despite these costs, the current approach doesn't appear to be achieving the desired cuts in emissions.

It may have come ten years late, but Ed Miliband’s decision to bypass planning processes for nuclear plants is welcome. Britain faces unprecedented energy insecurity, with widespread power cuts predicted from 2017. Rather than trust Vladimir Putin not to turn the top-off whenever he’s feeling piqued, or to rely on the totally unreliable Colonel Gadaffi, or import energy, the government will increase nuclear output to 25 percent of national production. To achieve this, government will act with almost dictatorial reach to circumvent local communities and their right to determine the scale and scope of local construction. Expense has long been an argument against nuclear power and each of the ten proposed reactors will cost £5bn.