I'm John Bettsch with my colleague Joseph Sternberg.

He's in London for the Wall Street Journal editorial board, writing political economics, and

also participating in a new video.

I recommend highly to understand Liz Truss's 44 days in office as Prime Minister, now explaining some of the intricacies of how the parliament

conducts itself. She's now separated herself quasi-quartung. She's hired a new chancellor

of Dixchequer who delivers a budget that is recognizable to the blob. It's the way things

always have been. We're not

going to grow. We're going to raise taxes. That sort of thing. However, the crisis at the Bank

of England has ebbed some having to do with the fact that it never had anything to do with

Liz Truss. It had to do with Andrew Bailey. And Liz Liz Trust believes now she must turn to another way of

growing the budget or growing the country, and that has to do with energy. She wants to be a fracker.

And Joe, there's more trouble coming. It's not just the blob. They're afraid of even stopping the ban. Is this still true, Joe?

Is this ancient history? Are they still frightened of fracking? No, fracking remains enormously controversial

over here. And I think that this is the other important part of the political backdrop that

helps you understand what actually happened in the UK in that period.

Because, you know, she had a complete view of the economy.

It wasn't just sort of thinking that you could do a very simplistic sort of cut a few tax

rates here or do energy subsidies there and everything will work.

I mean, there was actually a comprehensive vision, although it was not

always very well communicated. And part of that was dealing permanently with the energy price

problem, not by just planning to subsidize forever, but instead by trying to bring new production

online. And so that was how she came to be embroiled in this fight

...