Labour And Fracking: This is Plain Stupid

This blog, lately as readers know quite sympathetic to Labour, vehemently opposes the shadow energy minster’s declaration that it will ban fracking. This is a pitiful example when idealism clashes with ambition to guarantee disappointment on both fronts. Labour calls for a return to socialism with re-industrialization importing jobs back to the UK. A condition of that is plentiful home produced energy which is carbon friendly. The industrial revolution could not and would not have happened without the self sufficiency in coal which fueled the energy, steam, which powered it. From an energy self sufficient economy we have become one which is dependent on imports. Our electricity is expensive by comparison with our main competitors. Nothing big is going to happen on the industrial front until this is sorted. We cannot afford at this stage to ban anything. Later when we are self sufficient without the need for fossil fuels, certainly, but not now.

America has, since the crash of 2008, transformed its economic prospects by becoming once again energy self sufficient, resulting in plentiful cheap power for business and industry and which has generated new wealth at the base of the economy. This has been made possible by shale. Now the US is poised for its own industrial re-generation and its economy is re-balancing away from excessive reliance on borrowing and financial services. To achieve Labour’s promises we have to do the same. There is enough oil, gas and coal beneath out feet, coupled with nuclear power and renewables, to achieve no less a turnaround than the Americans. But we cannot turn our back on any of them yet; even coal can be used if we develop existing carbon capture technology. As for shale. Yes there were some issues at the beginning with the first few wells. But now there are a million of them and the expertise has developed to make them safe.

There is an important lesson here for Labour. It is right to proclaim a radically different socialist alternative to the quagmire of unfulfilled promises, failed forecasts, rising living costs and falling standards which now engulfs the sterile centre of British politics. It is also right to get ready for power. But that demands that Labour gets real on the detail. Voters will demand to know how. Credibility is the currency of any successful election campaign.

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