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Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts

Friday, 24 July 2026

News alert UK - allowing two oil fields to be drilled won't increase the UK's energy security nor ease cost of living pressures.

I've been listening to the recent UK media debate on whether the new PM should OK the drilling of two oil fields. 



Part of the reasoning I've heard politicians in the Scottish and UK Parliaments use, as to why he ought to say yes, is that allowing such will:

a) Increase the UK's energy security;
b) ease cost of living pressures.

The obvious challenge to such patent rubbish is that those two effects will only occur if:

a) the companies drilling the oil fields aren't allowed to sell the oil in the open market but that instead they have to:

    i) sell it a lower price than the current market price;
    AND
    ii) store it somewhere in the UK before or after refinement;
    AND
    iii) somehow restrict who it can be sold to only people who will use it in the UK.

And whats disappointing is that, so far, I haven't heard these obviously ridiculous politician's assertions being challenged by the media.

So much for the facts!
So much for the 4th estate shining light into darkness!

Overall mark from this observer to UK media - "Could do much better" 

Hat tip for picture by Randgruppe from Pixabay

Friday, 12 January 2024

Infiltrating Westminster: The Atlas Network's Shadowy Grip on UK Politics

Introduction

A tangled web of think tanks, big bucks, and free-market ideology: How the Atlas Network is shaping UK politics, often from the shadows.

The UK political landscape is a complex beast, with players and agendas vying for influence.  But beyond the familiar faces and party platforms, a lesser-known network operates - the Atlas Network.  With its tendrils reaching into think tanks, funding streams, and even the ears of certain politicians, the Atlas Network's influence deserves a closer look.


Who are they?

Founded in 1981 by Antony Fisher, a British oil tycoon with close ties to Margaret Thatcher, the Atlas Network is a global network of libertarian think tanks.  They promote free-market policies, deregulation, limited government intervention, reduced welfare spending, tax cuts for the rich, privatization, and minimal environmental regulations.  While they present themselves as champions of individual liberty, their policies often benefit the wealthy and powerful at the expense of ordinary citizens and the environment.

Who funds them?

The Atlas Network is a well-oiled machine, fueled by generous donations from wealthy individuals, corporations, and even foreign governments.  Some notable names include the Koch brothers, ExxonMobil, the tobacco industry and the Templeton Foundation. This raises concerns about transparency and potential conflicts of interest.

Who do they support?

  • While the Atlas Network claims not to endorse specific candidates or parties, their research and lobbying efforts often align with the Conservative Party.  Politicians like Rishi Sunak, Liz Truss, and Priti Patel have received support from Atlas-linked think tanks like the Institute of Economic Affairs (IEA) and the TaxPayers' Alliance. Conservative MPs like Daniel Hannan and Mark Littlewood have close ties to the Atlas Network, regularly attending their events and echoing their talking points. Former Brexit Secretary Dominic Raab has even been dubbed the "IEA's man in government."

What can be done?

Shining a light on the Atlas Network's activities is crucial.  Here are some ways to increase transparency and accountability:

  • Media investigations: Journalists must follow the money and expose the network's funding sources and connections to politicians.
  • Campaign finance reform: Stricter regulations on political donations can help prevent undue influence from powerful groups like the Atlas Network.
  • Public awareness: Educating the public about the Atlas Network's agenda and its potential impact on policy decisions can spark informed debate and push for greater transparency.
  • Calling out poor analysis:  For example, the IEA issued a report that concluded that lockdowns had very little impact.  They got to this conclusion by considering evidence from what, in their view the most valid type of study (so-called difference in difference studies). But by picking only a very particular type of study they ignore the vast majority of the evidence. If you ignore all the data that you don’t like, you tend to get the answer you were looking for in the first place.

Conclusion:

The Atlas Network may operate in the shadows, but its influence on UK politics is undeniable. By demanding transparency, scrutinizing funding, and raising public awareness, we can ensure that the true players in the political arena are no longer shrouded in secrecy. Only then can we have a truly informed and democratic conversation about the future of our nation.

Sources:

Wednesday, 22 April 2020

1min 29sec @wef clip - Why did the American oil price suddenly drop below $0?



text from youtube "As energy demand has fallen due to the Coronavirus lockdown, the American oil prices have dropped to an unprecedented level. Here is what it could mean for the future of oil production."