Posted on 01/08/2022 10:06:51 AM PST by george76
Skyrocketing gas prices are sparking major concerns in the UK, with households bracing for higher bills and food prices.
The energy crisis has already hit millions of Brits, but is set to hit more still.
The UK is highly dependent on consumer spending to generate output, indicating the economy could still be in the mire heading into the spring.
A wave of concern over the swelling cost of living is sweeping across Britain. While households are bracing for higher tax bills and are already being stung by food prices leaping, it is swelling energy costs that will hit hardest in 2022.
The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 per therm to £245 per therm in December 2021.
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Britain imports a large proportion of its gas supplies from the Continent who, in turn, rely on Russia for around 35 percent of their own natural gas flows.
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its primary source of renewable energy is wind power, which is volatile at best. During an unseasonal windless winter it has underperformed significantly
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The energy market is highly inefficient due to the intrusion of government policy.
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The energy crisis has already hit millions of Brits, but is set to hit more still.
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The burden of a higher cost of living will predominantly fall on lower income households as they tend to spend a greater proportion of their income on essentials.
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Household budgets for spending on non-essential goods will shrink as they divert more money toward paying higher energy tax bills.
The UK is highly dependent on consumer spending to generate output, indicating the economy could still be in the mire heading into the spring – just when the cost of living blizzard and energy price cap hike are set to materialise.
(Excerpt) Read more at oilprice.com ...
Notable places where Western Civilization is not committing suicide are in Eastern Europe and are mostly former Soviet Satellites.
The UK is rather good at classifying some comments as “hate speech”. (Just ask Tommy Robinson about that.)
So maybe the UK should classify complaints about energy prices as hate speech.
Do rising energy costs in Britain have anything to do with rising energy costs in the US?
Let’s Go Boris.
Coming soon enough to us.
The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 per therm to £245 per therm in December 2021.
The author is off by an order of magnitude in price. Those are pence per therm not pound sterlings.
It should read 54 pence to 245 pence per therm. Still a large increase but it’s not 2450 pound Sterling per gigajoule
So there are islands in UK where energy prices have remained flat? Who writes this stupidity. It's a national if not global market.
More wind power!
“So there are islands in UK where energy prices have remained flat? Who writes this stupidity. It’s a national if not global market.”
It’s a global market but some suppliers guess better at futures hedging than others. The ones that guessed right have delayed their price increases. We’ve seen the same thing in the USA with gas prices. Oil has gone up more than gas prices. That’s probably temporary, look for higher has prices soon.
I’m referring to gasoline above. Natural gas has increased a lot. My monthly mineral rights payments for nat gas have gone from $200 to over $900 a month.
Thanks
Meanwhile, China gives lip service to environmental goals, but keeps building coal fired power plants at a rapid pace. The CCP understands you’ve got to have reliable power to survive, something many of the leaders in the West have failed to grasp.
“ More wind power!”
Biden and Swalwell are doing all they can.
If the left were intentionally trying to harm America, would they be doing anything differently?
America is Under Attack by 187 Groups Funded by George Soros.
https://freerepublic.com/focus/news/3705530/posts
There is no energy crisis. There is a crisis of confidence. The untrusting liberal-left majorities in power in most Western countries have failed to grasp the dynamic that relatively cheap and plentiful energy are the very lifeblood of prosperity, and they just cannot have all this prosperity, as it interferes with their exercise of sadistic pranks on the general population.
So they throw up all kinds of regulations and roadblocks to the free-market transfer of energy sources, reverting to some rather dodgy interpretations of “science” to “prove” that the burning of fossil fuels is the one and only source of some mysterious malign specter known today as “Climate Change”.
They cannot demonstrate with any convincing reasoning that there is a correlation between use of hydrocarbon-based fuels and how temperatures over the entire planet are affected in any way, shape, form or manner.
So they invent mantras, chanting them over and over, and with repetition, the mantras become “true”, that is, they have induced guilt in the hearts of the gullible.
And the gullible demand some kind of government action that will “stop” this “Climate Change” chimera.
Usually that means higher taxes and more meaningless regulations.
True that !
We sit on gas and oil fields while our resident begs for increased production elsewhere in the world.
The resident staff are pulling all the strings and making the decisions similar to a Sophmoric barista would make,
who lacks any worldly experience but understands computer generated models, only.
He can't be bothered by how these decisions impact people; he just doesn't care about people's feelings !
It's good to be Deep State.
Ny is trying to,create an energy crisis too
“New construction in the state will be zero-emission by 2027, and we will build climate-friendly electric homes and promote electric cars, trucks and buses,” Hochul said
the plan means that new buildings could have neither oil or gas burners for heat or hot water, nor gas stoves. “
in other-words- they are driving EVERYONE into Electric only for heat, cooking, etc-
“In 2019, New York passed a law requiring the state to reach net-zero emissions by 2050.”
Electric prices will be through the roof with rolling blackouts and “electric curfews” once they go,total electric bu 2027 and the demand for electric,skyrockets as a result
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