There is a strategic vacuum at the heart of the energy industry. In such an
environment, leaders can emerge and at the turn of the 20th century Standard
Oil was such a company, hell-bent on developing a standard petroleum product
that would achieve universal acceptance.
Is it nuclear power, hydrogen, biofuels or old king coal with new and improved
carbon capture? Weeping hysterically, the energy barons cling to the skirts
of the civil servants and ask for guidance.
It is deeply depressing, because we know there is little knowledge and no
leadership in government.
Ministers consult, but who is there to give advice? Only the businesses that
have just passed the buck. They will not invest without a protective net of
regulation that guarantees them an acceptable return. In short, they want a
licence to print money and they want grants and subsidies.
clipped from: business.timesonline.co.uk