1. The BP oil spill. It’s much, much, MUCH worse than we think.
I personally have no sympathy whatsoever for BP. No Big Oil company has been more assiduous in sucking up to ecotards, bigging up the “alternative [to] energy” industry, promoting belief in ManBearPig. But I do feel sorry for the pensioners and shareholders dependent on BP for £1 in every £6 of their dividends.
2. Dismal ManBearPig-worshipper Tim Yeo MP being made chairman of the new Energy and Climate Change committee.
Politics.co.uk bears the grim tidings: (Hat tip: Bishop Hill)
Energy and climate change committee – Tim Yeo (Con)
Yeo has easily made the transition from the environmental audit committee, which he chaired in the last parliament, after that committee’s chair passed to Labour hands. He beat Philip Hollobone despite declaring an impressive range of interests, including a non-executive directorship of Groupe Eurotunnel, a non-executive chairmanship of AFC Energy and a consultant role for Regenesis.
Oh dear. The majority of Tory MPs who DON’T believe in Man Made Global Warming had their one and only chance and they blew it. The job should have gone to Philip Hollobone who could have been relied on to inject a note of realism into Chris Huhne’s certifiable energy policy – which will hamper the UK economy with at least £18 billion per annum of totally unnecessary “climate change” expenditure.
3. CGT v the Laffer Curve
In the Spectator the great US economist Arthur Laffer explains in terms even a Brasenose PPE graduate can understand exactly why raising CGT has exactly the opposite effect of the one intended: ie it stifles economic growth AND reduces tax revenues. Obviously one wouldn’t expect equality-obsessed class agitators like Vince Cable to grasp this point which is why equality-obsessed class agitators like Vince Cable should never have been allowed anywhere near our economic decision-making process. For this almost the entire blame falls on David Cameron: for having such a hang up about his class background; for lacking the moral courage to make the case for lower taxation, preferring instead to earn cheap popularity by being seen to “soak the rich.”