The news this morning has two interesting stories, the almost certainly doomed attempt to save the world from climate change at COP 28 and the price of fuel, caused by the policies of the petroleum exporting countries.
There is even a nice mix of the two stories because Dubai, site of the COP28 talks is now accused of using the conference as a place to negotiate oil deals.
Although in a sense we really ought to be encouraging OPEC and all the rest to boost oil prices to eye watering levels, after all economics tells us that price increases is the surefire way of limiting demand.
But that will never happen, nor is a voluntary half hearted attempt to change the whole world’s use of energy, reduce carbon emissions massively and stop the planet heating going to work.
Just look at the UK, the fuel levy designed to increase fuel prices and reduce demand has been mothballed for 13 years now at a cost to the treasury of £80 billion a year.
The petrol heads have won.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media
Dump the fuel tax and introduce a congestion/usage charge across the UK. It’ll be here before you know it.