TyskySour: Climate Catastrophe Liz Truss

Novara Media

Philosophy, News, Politics, Society & Culture

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🗓️ 31 August 2022

⏱️ 51 minutes

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Summary

As climate change induced floods devastate Pakistan, Liz Truss has committed to expanding UK oil and gas fields and – apparently – is set to make the climate-skeptic Jacob Rees-Mogg her energy secretary. With Michael Walker and Dalia Gebrial. __________________________________________________________ Read about the Reach journalists strike: https://novaramedia.com/2022/08/23/daily-mirror-journalists-striking-over-low-pay-were-offered-advice-on-side-hustles-by-publishing-giant/ _________________________________________________________ Support Novara Media for as little as […]

Transcript

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0:00.0	As climate change induced floods devastate Pakistan,
0:09.4	Liz Truss has committed to expanding UK oil and gas fields and is reportedly set to put some
0:15.7	pretty worrying people in top energy jobs. It's really not looking good when it comes to the UK's
0:24.6	impact on climate change. That's our theme tonight. I'm joined by Dalia Gabriel. How are you doing
0:29.7	Dalia? I am looking forward to dragging Jacob Riesmog with you. That's going to be fun.
0:36.7	A light relief from the devastation that his appointment represents. Yeah I was going to say his
0:42.1	appointment is not a light relief because his appointment is going to be really disastrous for
0:45.6	humanity but yeah a lot of material a lot of material there for us to work with. While ordinary
0:51.0	Britain's struggle with an acute cost of living crisis some luckier ones are set to be laughing
0:56.0	all the way to the bank. That's because according to internal treasury documents
1:00.8	UK energy firms are set to make a whopping 170 billion pounds in excess profits over the next two
1:07.8	years. Yes 170 billion pounds. That possible windfall would accrue to gas producers and energy
1:16.4	generators and excess profits the difference between what energy producers are predicted to actually
1:21.7	make and the profits they could have expected to make based on the outlook for prices before
1:27.3	Russia's invasion of Ukraine. In other words they are the windfall these firms will make thanks to
1:33.6	the war in Ukraine. They would therefore be prime targets for a windfall tax yet our likely future
1:40.4	prime minister has already made her views on those clear. One thing I absolutely don't support
1:45.6	is a windfall tax. I think it's a labor idea. It's all about bashing business and it sends the
1:51.3	wrong message to international investors and to the public. The message Liz Truss seems to
1:56.9	be keen to send to international investors and the public is that yes you too can make billions
2:02.1	of unearned wealth due to the outbreak of a war. I'm not sure what economic theory justifies
2:08.9	that particular statement. Meanwhile Liz Truss looks set to give another bank to oil and gas
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