Subsidies for the oil industry…
Interesting piece in the Guardian by George Monbiot, discussing the perversity of subsidising the oil industry in order to protect profits during the slump in oil prices. He notes that:
Last week David Cameron flew to Aberdeen, where he announced another £250m of funding for, er, free enterprise, much (though not all) of which will be used to prop up oil and gas. A further £20m of public money will be spent on seismic testing
And that:
The energy secretary, Amber Rudd, says she stands “100% behind” this “fantastic industry”. She will “build a bridge to the future for UK oil and gas”.
A link to the piece is:http://www.theguardian.com/commentisfree/2016/feb/02/cheap-oil-taxpayers-crisis-bailouts-fossil-fuels
Leave a Reply
You must be logged in to post a comment.