Conversation with my colleague Liz Peake about Great Britain and the increase in oil prices, gasoline, petrol prices, and the increase in electricity.

Why? Because they were relying on renewables. The last time this happened, they were relying on renewables and it wasn't adequate.

Well, it didn't improve this time either.

They do have oil. They do have coal. They do have lots of natural gas, but it's not now being

exploited. What about the North Sea fields that are waiting there? Liz explains. Great Britain

wedded to renewables, even though they're inadequate, and the shortfall is very hard on the seniors and the juniors who are on fixed incomes.

Here's Liz. More of this tonight.

Well, I would say that Europe is in worse shape than we are, which is why their prices are up, I think,

about 50 percent.

Ours are not that high.

And the reason is because they have been traveling down a clean energy road, a climate obsession

road for really 20 years now and have not availed themselves of backup supplies of fossil fuels.

They have sort of doggedly bought into the idea that solar panels and windmills are going to supply

energy that all the energy they need, even though repeatedly when there are crises, and this happened, as you remember,

when Russia invaded Ukraine, electricity prices in the UK went up 60%. Why? Because they were relying on

windmills, and windmills just didn't do the trick. And the windmills went silent and still for a month.

And, you know, England was absolutely clobbered.

What is England done?

They've decided not to explore, not to develop any more North Sea oil fields.

By the way, Norway, which kind of had that inclination too, is all in, spending more money in the North Sea.

Most of these old depleted fields, there is the possibility of resurrection,

or at least increasing production out of some of these fields.

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