On this day, June 28 1982 (40 years ago today) Nigel Lawson, as Secretary of State for Energy in the first government of Margaret Thatcher, gave a “landmark speech” on energy policy to the International Association of Energy Economists. I can’t find a copy of it online. Ho hum.
According to Amber Rudd, speaking more recently (18 November 2015, since you asked) –
In his seminal speech in 1982, he defined the Government’s role as setting a framework that would ensure the market, rather than the state, provided secure, cost-efficient energy.
This was driven by a desire to create a system where competition worked for families and businesses.
“The changes in prospect,” said Lawson at the time, “will help us ensure that the supplies of fuel we need are available at the lowest practicable cost.”
So, what did these fine words mean? Publicly-owned assets were flogged off and some people got even richer.
Planning became impossible. It was all “fine” (not really, but looked it to some) until we needed to think long-term and strategically about what kind of fuel sources we used to get how much energy and for what purposes. Because privately owned companies are going to want to sell more of their product, not less. This is not rocket-science.
Why this matters.
Well, that period – late 70s, early 80s, , was probably our last best chance to do anything meaningful about climate change. Oh well.
What happened next?
With energy policy? Ha ha ha ha ha.
We now (April 2022) have an “Energy Security Strategy” that doesn’t mention demand reduction, energy efficiency, on-shore wind. Instead it goes Full Fantasy on nuclear, CCS and hydrogen.
Epic thread by Michael Jacobs, that ends thus –
We’re deep in the magical thinking phase, aren’t we?
Nigel Lawson? You many know him from the esteemed Global Warming Policy Foundation.