We shunned difficult decisions on nuclear for 20 years so we could waste a lot of our gas on producing electricity.

Oil prices depend on anxiety over the middle East (Israel, palestine etc), OPEC, anxiety over Russia, anxiety over the weather, anxiety over the developing countries (Brazil, China and India in particular), cold winters in the US (rely a lot on oil for heating), huricanes in the Gulf of Mexico, Iran and Iraq, corrosion and old infrastructure, terrorism, market speculation, lack of refining capacity, inelastic demand, and the wrong type of oil (heavy sour rather than light and sweet). We were well insulated from this until ours started to run out. All pretty bad at present.

Loads of gas and the UK is oh so well supplied, but wrongly linked to the price of oil.

BD - yes he does know shed loads about oil and gas markets.

PS where is TJ, he started this but has chickened out of a good debate


PPS no doubt many mines would have gone, but not with the rapid destruction of mining communties seen under Mrs T