First up, Izabella Kaminska at FT Alphaville:
A natgas Cassandra speaks outContinued commitment to a net zero carbon policy will drive energy poverty and a potential humanitarian crisis, industry insider warns.
As the prospect of a fuel-starved winter becomes ever realer for the United Kingdom, enquiring minds have begun to wonder, how did such a precarious state come to pass? And how did those in government charged with managing UK energy security get it so wrong?
One man with greater insight than most is Philip Lambert, the head of Lambert Energy, a discreet but highly influential energy advisory firm that has consulted to governments and the major energy corporations on some of the biggest energy market deals in history.
“I have no pleasure at all to be a Cassandra for the same perpetual warnings,” says Lambert as he ponders the fate beholding the UK and the rest of the northern hemisphere this winter. He believes the crisis, which is only likely to get worse, is the product of a “monumental misallocation of capital” and many years worth of underinvestment in natural gas capacity.
Until this week, Lambert has been wary of speaking publicly about the matter, noting that anyone daring to go against the religious-like sentiment of the net-zero carbon lobby risks vilification and intimidation.
But behind closed doors, Lambert -- a staunch believer in the need to decarbonise the planet as quickly as possible and about as far from a climate change denier as you could find -- has been quietly warning that net-zero policies will trigger an energy poverty crisis so great that it could derail climate action progress by inducing greater dependency on dirtier fuels like coal and wood.....
....MUCH MORE
and more to come.
