"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Sunday, September 07, 2008

Renewable Energy Foundation ... starts shouting at Gordon Brown

Campbell Dunford, a former international energy banker, now Chief Executive of the Renewable Energy Foundation has evidently had it up to here with politicians.

In a press release after our wonderful Prime Minister was speaking only a few hours after National Grid issued a “Notification of Inadequate System Margin”,and talking of “reducing our dependence on oil, and by creating a low carbon economy achieving both greater security of energy supply and greater efficiency of energy use” he says ....UK POLITICAL CLASSES OUT OF TOUCH WITH ELECTRICITY CRISIS ....poorly designed emissions legislation and renewables support policies are in fact to blame for distorting the UK electricity sector, eroding system margins, and discouraging investment in any reliable capacity except gas , the international availability of which is now in question and over which he is now expressing such concern.... catastrophically wasteful and counterproductive Renewables Obligation which costs the UK economy a billion pounds a year but delivers little or no reliable electricity.

He highlights ...The UK will be importing 50% of its gas by 2010, and 80% by 2020.
UK He points out that the UK is now in the early stages of intense competition with the major Asian economies for supplies of Liquefied Natural Gas, and is not winning; the Isle of Grain received no commercial cargoes in the first six months of this year due to high prices in Japan.

Sentiments long expressed here at the Forthcoming UK Energy Deficit ... reda more of what he has to say here.... and take a agood hard look at an excellent site.

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