The Times (July 29)
The UK’s “reckless lack of gas storage invites disaster.” Britain maintains “90 days’ worth of oil imports,” but “just two or three days’ worth of gas in reserve.” Since oil and gas each account for approximately one third of domestic energy, this “peculiarity” contributes “to energy insecurity and our soaring bills.” It’s completely out of step with reality. “Germany can store 90 days’ gas; France, over 100; Italy, somewhere in between; and the Netherlands, about 60.” Britain’s “reckless lack of gas storage invites disaster.” This obvious failure “ought to be a considerable source of worry.”
Tags: Disaster, Domestic energy, Failure, France, Gas, Gas storage, Germany, Insecurity, Italy, Netherlands, Oil imports, Peculiarity, Reckless, Reserve, Soaring bills, UK, Worry
Financial Times (October 10)
“The world has just passed a historic milestone: China has overtaken the U.S. as the world’s largest oil importer…. The implications for international relations and global security are profound.” Cinching the global “gas guzzler” title has as much to do with the dramatic increase in domestic U.S. production through fracking as rising living standards in China. While China is now the biggest oil importer, the U.S. remains the biggest consumer. Per capita, the U.S. consumes over seven times more oil than China or 21.5 barrels annually per person.
Tags: China, Consumer, Fracking, Global security, International relations, Living standards, Milestone, Oil imports, U.S.
