“A wake up call” the CEO of Britain’s biggest domestic energy firm told me last night about the possibility of long term impact to global gas and oil infrastructure… but he pointed to electrification as the main lesson, while domestic gas would be preferable to shipped gas:

“wake-up call that gets us to electrify more of our economy and get more of our energy from homegrown sources.”


"The irony is, right now, we're emailing millions of customers saying their energy prices are going to fall..."
"You can't protect yourself against these global markets forever."
 "Traders are really worried about how long it's going to take these facilities to get back online."
"Our electricity system's too inefficient. We need to reform that markets so that people get the benefits of our homegrown resources."
“my own view is that shipping gas around the world is more inefficient and has more leaks of methane than if you use local gas. But we shouldn't kid ourselves. North Sea gas wouldn't meaningfully bring the price down because we're paying the global price. If we got more out of the North Sea, it would simply be sold to other countries at these very high prices or here at these high prices. And we can't kid ourselves we're going to be self-sufficient in gas again. What we can do is have a much cheaper approach to electricity than we have today. Our electricity system's too inefficient. We need to reform that markets so that people get the benefits of our homegrown resources.