Britain's Current Heating
Crisis And Increased Energy Costs Confirms Previous Claims
January 2. 2023
London (courtesy of Wikipedia)
For YEARS I have stated on this site
and my Twitter page that Britain needs to become
more self-sufficient as a nation, regarding matters
such as growing MORE of their own food, undertaking
extensive solar initiatives and issuing subsides to
reduce energy bills for the poor.
This year energy bills in Britain
have soared to record highs. I've seen energy bills
people have posted on social networking with the
complaint that they cannot afford the price
increases (hundreds of pounds more per month). The
Conservative party (Tories) have been running
Britain for the past 13-years. They should have
heeded the warning and made provisions regarding
energy matters, as I warned beginning 5-YEARS AGO,
as Putin's war (another person I warned about) is
wreaking havoc on poor Ukraine, and causing energy
prices in Britain and Europe to escalate.
My tweet on Twitter from 2017 regarding
issuing heating subsidies for the poor
It's one thing if you are too hot
from the weather, as you can use water and in
extreme cases, even an ice bath to cool your body
temperature down to a safer level. However, if you
are too cold, have no access to a fireplace and the
temperature suddenly drops, it can result in illness
and even death.
More lower income British homes need
to be outfitted with solar panels to assist in
cutting energy costs (the middle class and the rich
can afford to install their own solar panels).
Proper insulation should also be provided as a part
of a government program, regarding dispatching
companies to do simple, cost-effective work on in
insulating attics, windows, doors and basements.
My tweet on Twitter from 2019 regarding
issuing heating subsidies for the poor
Britain also needs to expand its
clean energy efforts regarding buses and trains. You
cannot let a tyrant like Putin (or any other
dictator for that matter) have you against a wall
regarding important matters, such as energy,
medicine or food (Putin has been targeting and
destroying Ukraine's wheat and grain supply the
world relies on).
Set yourself up better now to
protect Britain in the future. Yes, it will require
capital at the outset (which I know you have) but
those expenditures will prove smart and fruitful in
the long run, as Britain will be on firmer footing
in the world with the ability to take care of
itself.
My tweet on solar initiatives in Britain from
May 2022
All the money that select Tory
politicians misappropriated and stole during the
pandemic, with the Daily Mail estimates to be a £2
billion, and the New York Times calculates at £11
billion, could have easily paid for solar
initiatives, affordable housing, free school lunches
for poor children, and financially boosted the NHS
(National Health Service).
Selflessness is needed, as Britain's
future is being damaged, and in a manner that can
created widespread poverty, as nothing you've seen
in modern times. Action is needed now to help the
poor and to boost the economy or the Britain you
enjoy today, will not be the one you see in the
future.
STORY SOURCE
The impact of the war in Ukraine on energy
prices: Consequences for firms’ financial
performance
7 Oct 2022 - The Russian-Western
standoff due to the invasion of Ukraine has produced
an unprecedented increase in energy prices,
especially in Europe. This column shows that the
effects of this energy shock have already started to
materialise in corporate asset prices, in terms of
lower equity returns and higher CDS spreads for
firms with energy intensive production functions. A
simulation exercise using the implied probability of
defaults extracted from CDS spreads shows that a
non-negligible number of firms would lose
investment-grade status should energy prices remain
at the record high levels reached at the end of July
2022 for an extended period.
Global energy prices have been
steadily rising since mid-2021 as pent-up demand
spurred by the post-pandemic recovery fuelled
considerable tightness in the energy market. This
dynamic was particularly pronounced in Europe where
Russia’s invasion of Ukraine added unprecedented
pressure to the European energy market: between 23
February, the day before the start of the conflict,
and 31 July (27 September), European gas and
electricity wholesale prices increased by 115%
(109%) and 237% (138%), respectively. As the war
escalated, prices tensions spread from the spot
market to the whole term structure of futures energy
prices, suggesting that the cost of energy will
remain higher for longer...
https://cepr.org
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