Iran war destroys the case for net zero? No, it doesn't. It shows why we need it |
Eye-watering global oil price rises, driven by the war in the Middle East, are putting the UK on course for further inflation and stagnant growth. For months, there have been calls for the UK to abandon its investment in renewables and “max out” North Sea oil production, but that would be the worst possible course of action, writes Herald columnist Rebecca McQuillan.
This crisis shows once again why we need to reduce our dependence on fossil fuels. Here we are again, experiencing our second oil price shock in six years, with oil topping $100 a barrel and reaching its highest level since 2022. Here we are again, quite probably heading for a cost-of-living spike. Here we are again, watching the government’s plans for funding public services and investing in future prosperity undermined before our eyes.
If only there were a way to insulate ourselves against all this, something we could do to prevent ourselves being so badly affected by fluctuations in the global oil price. Moving away from our dependence on oil and gas, which are subject to high and sometimes extreme price volatility, is one of the key arguments for net zero policies like investing in renewables and changing the way we fuel our cars and heat our homes.
Increasing the proportion of our energy needs that are met from renewables reduces the impact of those price fluctuations. Renewable power from wind and solar is cheap to generate, variable but predictable (through weather forecasting), and less vulnerable to physical attack than power from conventional plants. The more we can produce to cover our needs, the more we can insulate ourselves from global energy price shocks and, crucially, from the inflationary pressures they create.
How long before women can be sure to get the healthcare they need?
Andrew has left the royal family in crisis - and things could get worse soon
Do you........