To think this is very morally wrong

[Lovelycupofcoffee]

So I read today that energy companies are making huge profits and some of their directors are getting paid huge bonuses. I find this absolutely disgusting when there are families choosing between paying electric bills or cutting back on feeding their family . Could the government not step in and shop this ? Come October it’s going to get worse but surely we shouldn’t have to be choosing between food or paying our electric bill. If these companies are making so much money why increase the standing charge for gas/ electric? There is something very wrong here.

It's no good is having more if it gets sold to the highest bidder

The problem isn't availability as such it's the price

And we would be far better investing in renewables and storage than fossil fuels which are creating an even bigger future economic crisis - and is already partly responsible for rising food prices

This is what happens when you vote Tory. Turkeys voting for Christmas.

Problem IS availability.

Price is linked to availability. Supply and Demand. A concept as old as humanity itself.

Your argument is based on your political leanings, rather than how supply and demand works.

Much energy availability is controlled by a cartel operating in the Middle East who are happy to control supply to maximise their profit

You're being disingenuous. You know what I meant when I asked "whose economy?" The UK economy generally won't see much benefit from fracking, studies have proved it. Between private companies selling what has been fracked to international buyers, and paying themselves huge profits, the economy of this country as it applies to most ordinary people won't significantly benefit. But parts of the country will be wrecked by the risky practices that characterise how energy is extracted by fracking, and people's lives and livelihoods along with it.

Someone so determined to claim it's for the greater good can only have one agenda.

I can not believe that people can see the crazy weather all over the world this summer and come to the conclusion that fracking is sensible!

We need more insulation, more energy efficiency, more renewables. And some diplomatic or otherwise solution to Russian aggression.

Absolutely @wonderstuff . Sadly, we are now living at a global flashpoint created by traditional economic models based on fossil fuel profiteering being challenged by the demands of addressing climate change. It is rough now and will only get rougher. Whether civilisation survives it or not remains to be seen. Some extremely powerful people aren't happy with the idea of renewable energy sources and a green economy replacing fossil fuels and their associated derivatives, and those people are getting nastier as they get more desperate.

Renewables and storage are part of the answer but not the whole - they won't give anywhere near enough capacity, and demand/supply equation relies on it being windy/sunny at the right times and having sufficient storage to keep energy generated when it's windy but warm. Nuclear is a big part of the clean(er) energy solution too and sizewell C is a big first step but even that will only fuel 6m homes.

I know it’s the producers of oil and gas that are making the huge profits. Some of the U.K. domestic supply companies are subsidiaries of energy companies who produce energy such as British Gas owned by Centrica, Shell now does supply as well as produce. I do think governments are justified in imposing significant windfall taxes on these energy producers during such times of huge profiteering which is then given to the people to help pay towards their energy bills.

Also as said curbs on energy commodity speculation would also help with tampering down wholesale prices but I presume that would need to be an international effort and I don’t see it happening.

It’s very easy to pluck out isolated verses from the bible and make them fit to your beliefs. There is another verse in the New Testament, Luke 3:11,
that says “who has two coats should give one to this brother who has none.” Furthermore, Matthew 25:29 can also be applied to any literal or figurative “thing” that can be given to people, in other words, it doesn’t even have to be money.

Also it is important is to look at general themes and sharing equally and having compassion for the destitute is a recurring theme throughout the NT, as was Jesus' outright contempt for hypocrisy and greed.

Frances's energy is generally controlled by their government.
The UK government sold off our energy companies cheaply so shareholders and directors benefit.

It is different in France. Because the government control their energy. In the UK we are all just treated as cap-doffing serfs that the government and rich do not give a fuck about.

And I believe Martin Lewis over you. He says clearly it does not have to be this way.

Yes - boils my piss. I have worked for one of these organisations, used to be a Nationalised concern. You can probably work out which one - they don't generate their own power but are very heavily involved with carting it about.

The CEO makes heavy weather of his "working class boy from Wales done good" credentials yet has received a £6.5m bonus this year alone. I've seen reports that his share options are currently shovelling something in the region of £500k into his pocket in annual dividends at the moment too - all on top of salary and other perks. We never saw anything ever about the morality of this, particularly given the job cuts, reorganisations and lack of bonuses during Covid.

Worst of all was a couple of years back when a very poorly hidden exhortation to staff to vote Conservative was hidden amongst an all hands communication as he was worried about the threat of nationalisation! George Orwell was right.

Exactly. Those who voted for them in the last General Election knew what they were voting for.

Yes, because the only two alternatives are disaster capitalism or totalitarian communism. Ask the Swedes.

Yes I have fracking company. My equipment is gathering dust in the yard. Can’t wait to get it up and running.

Did you also forget the widow's might, no idea what chapter/verse/story it is but that is about giving your all to get your reward in heaven and then of course you have the money lenders being overthrown. The bible is a collection of stories that can be interpreted as you wish. See - all the world religions based on it....

The problem with Sizewell C is that it's already massively over budget and well over time. Also the reactors built in France (by EDF) on that same template are failing.

What's the bet that someone brilliant somewhere has already solved all these problems but a greedy fossil reliant dinosaur of a company/government/whatever has bought up the patents and have happily buried them...

Not if they're selling at a loss!!

With regards to your perspectives, about the patent, it's said that is what happened with cars that used water,hydrogen power, not sure how accurate the details.

Did you miss “small profit margins”? 🙄

Yes. This.

Thing is, as many have said, for ordinary people (non-rich) to vote Tory is turkeys voting for Christmas. And only stupid turkeys vote for Christmas. But they do it again and again. Turkeys tend not to learn from experience.

Also these particular turkeys (and there are lots: look at the majority), being thus challenged in the thinking part of their souls, also believe the propaganda that the only alternative to capitalist corruption is some form of Stalinism.

(Social democracy? Democratic socialism? - Must be communist. How do you know? - Richi Sunak told me.)

I do find it depressing so many of my fellow citizens - my immediate neighbours, even, lovely people many of them, always ready to help, wouldn't hurt a fly - voted (implicitly, but obviously nevertheless) for the state of affairs we currently find ourselves in.

Will they change? Fat chance. We're more likely to get communism by revolution. (Immiseration, anyone?) Or die out as a species as the methane feedback loop takes off (Venus scenario, anyone?)

Meanwhile, il faut cultiver notre jardin. What else?

It's always been that way. The fat cats get fatter on the cream that the poorer give them.
CEO fucks up and almost sends the company under? Give him a big fat golden handshake.
Raid pensions to fund your lavish lifestyle, leaving hundreds in pension poverty? That's fine, have a big fat golden handshake and enjoy your luxury yacht.
The poor can't pay their utility bills? Just pop them on a PAYG meter and make them pay more, another brandy old chap?
They only care about one thing and that's how much money they can squeeze out of you for their own pot.
The government don't care because they're all part of the old boys network. They make all the noises to appease us while quaffing fine wine with the ones who squeeze us.
Unless people rise up then it will continue, and even then the government will only offer just enough crumbs to make them feel like they've achieved something.

Lots of knee jerk comments here.

There is no way we will not get a windfall tax on energy companies or another tap in to those profits. It is not being announced now because it is not the time to do so. Truss or Sunak will do so in the autumn.

No chancellor be they Labour, Conservative, Lib Dem or whatever would do otherwise.

Just wait and see.

BP made a record $18bn loss in 2020, when covid impacted on supply/demand in negative ways. That was beyond their control, is that 'lossiteering'? Nobody wanted to share in that pain/government to support them then, but now it's swung the other way they are profiteering and must be stopped? They are already going to be paying the windfall tax until 2025. If you think that's not enough then campaign for more to be done at that level and for what's collected to be properly directed at those that need help with bills.