Mike Parker shares with us his latest Sustainable Living Column
Imagine the thoughts of SeSaME oil buying Club members in the scheme’s 12 rural villages, realising they were paying 19.50 pence per litre less in April than they had paid in January.
Wow that’s a great price, certainly. Other questions though come to mind; why that big reduction now, we needed those prices in January? There are wider questions for me, like why aren’t we in control here?
The reality is failure of the world’s largest oil producers to agree a deal to cut global oil production, after pandemic lock downs have drastically reduced demand, has meant a market flooded with cheap oil.
Ending such footloose and fancy free markets will depend on Saudi Arabia and Russia resolving their attempts at market dominance. On this occasion the USA, oil importing United Kingdom, and other members of the OPEC oil cartel were side-lined, urgently requesting production cuts and higher prices.
In their world of fossilised Caesars it’s essentially Energy Infamy – “They have all got it except for me.” Our best hope is ensuring their monopoly doesn’t carry on!
Our buying club does take some limited control. Reduced heavy traffic dangers, with their associated pollution, is clearly positive for rural communities. Then there is the convenience and “on the day” price savings.
History tells us that oil’s wealthy producers will soon control our energy again and their inevitable policies will mean our paying higher energy prices once more.
It doesn’t need to be. We know the UK in particular has the potential to achieve energy independence through a combination of investment in renewable energy and halving buildings’ heat loss.
Sadly there has been little evidence of multi discipline, apolitical planning and effective statutory control of the covid-19 pandemic. We must ensure that the vast amount spent protecting our high carbon economy does not weaken the essential responses needed to meet the even more serious climate emergency.
After those huge lock down lifesaving bailouts any rescued businesses’ final financial settlements must include new climate friendly obligations linked to intensive government bi-partisan planning. Our own Energy Infamy, a proper carry on
