They Will Flatten the Curve of Your Energy Use
Commentary
My friends in the UK have been texting me wildly this week. What the heck is going on with energy bills? They are doubling, tripling, and forecast to go even higher. For this bourgeoisie, this is a budget-destroying disaster. Small businesses won’t be able to afford to open. The poor will face the choice between heating and eating.
The new Prime Minister Liz Truss has immediately called for price caps (price controls) plus a £90 billion intervention that would bail out energy companies. Even people normally opposed to such draconian interventions are going along simply because no one seems to have another plan. The crisis is existential….