From Doomberg
The hollowness of Labour’s victory in no way diminishes its importance, if only because the new prime minister is a deeply devout apostle of the Church of Carbon™, and his party’s newfound dominance of parliament ensures the UK is about to take an even sharper green turn. Here’s how Irina Slav summarized things on her popular Substack in a piece titled “ You Reap What You Sow”:
“It’s official: we just got the energy transition experiment we have been calling for. Labour won the UK elections with the predicted landslide and is chomping at the bit to put its energy plans to the test of reality. Heartfelt commiserations to the British.
The party, comically referred to as ‘center-left’ by several news outlets covering the vote, has pledged to raise windfall profit taxes for the oil and gas industry, end new exploration licences for the North Sea and boost wind, solar, and storage deployment. There doesn’t seem to be a shadow of a doubt that it would all work.”
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If you insist | Getty
Although analysts rarely present it in this way, the decades-long decline of the UK from global power to geopolitical afterthought can be modeled quite reliably through the lens of the physics of energy. With the recent publication of the 2024 Statistical Review of World Energy and other widely available government data, the story of Britain’s relentless demise is available for observation by anybody with rudimentary spreadsheet charting skills. Starmer’s plans, combined with his undoubtedly temporary but near-dictatorial powers, look set to complete the UK’s final descent into economic oblivion. Let’s take a closer look... |
