LONDON -- Energy security and politics do not mix well. Energy security requires huge long-term investment, freedom from political interference and social tranquillity. Politicians live in the short term, love to interfere and tend to deliver nasty surprises that economic forecasters usually fail to foresee.
Four vivid examples of this conflict are currently bedeviling the British energy scene, where the government is trying to piece its ideas together in an increasingly dangerous world.
First, after years of self-sufficiency Britain is again becoming a major importer of oil and gas. The North Sea cornucopia is running down fast and the question now is how much reliance can be placed on safe delivery of these key fuels from distant and often politically shaky sources.