The UK's All Party Parliamentary Group on Peak Oil(1) believes rationing is "in the public interest"
They have published a report that "explores the vital role that an economy-wide tradable rationing scheme could play in addressing the twin challenges of climate change and peak oil."
The Green Party is very keen on TEQs
TEQs have long been Green Party policy, as we believe that we need a fair and transparent system to reduce energy demand and give each person a direct connection to the carbon emissions associated with their lifestyle. The TEQs scheme would guarantee that the UK's targeted carbon reductions are actually achieved, while ensuring fair shares of available energy.
Caroline Lucas, Leader of the Green Party, and MP for Brighton Pavilion (looking very pleased with herself, and no wonder!)
But WTF are these TEQs? This page explains....
1. TEQs (Tradable Energy Quotas) is an electronic energy rationing system designed to be implemented at the national scale.
2. There are two reasons why such a scheme may be needed:
Climate change: to guarantee achieving national carbon reduction targets.
Energy supply: to maintain a fair distribution of fuel and electricity during shortages.
3. TEQs (pronounced “tex”) are measured in units.
4. Every adult is given an equal free Entitlement of TEQs units each week. Other energy users (Government, industry etc.) bid for their units at a weekly Tender, or auction.
5. If you use less than your Entitlement of units, you can sell your surplus. If you need more, you can buy them. All trading takes place at a single national price, which will rise and fall in line with demand. Buying and selling would be as easy as topping up an Oyster card or mobile phone.
6. All fuels (and electricity) carry a “carbon rating” in units; one unit represents one kilogram of carbon dioxide – or the equivalent in other greenhouse gases – released in the fuel’s production and use.
7. When you buy energy, such as petrol for your car or electricity for your household, units corresponding to the amount of energy you have bought are deducted from your TEQs account, in addition to your money payment. TEQs transactions are generally automatic, using credit-card or (more usually) direct-debit technology.
8. The total number of units available in the country is set out in the TEQs Budget. The size of the Budget goes down year-by-year – step-by-step, like a staircase.
9. The Budget is set by the Committee on Climate Change, which is independent of the Government. The Government is itself bound by the TEQs scheme; its role is to support the country in thriving on the available carbon/energy.
10. Since the national TEQs price is determined by national demand, it is transparently in everyone’s interest to help each other to reduce their energy demand, and to work together, encouraging a national sense of common purpose.
The beauty of this one is that people have to pay extra - in advance - just for the "entitlement" to go and buy fuel.
Did you notice #4?
Every adult is given an equal free Entitlement of TEQs units each week.
Can you see how cunningly clever that part is? Someone in Gov. will have to decide how many "equal free" units are "fair" for all of us, to set a threshold. But then, to "stimulate" green-ness, that threshold value can be lowered, like income tax thresholds, to squeeze people's behaviour, and their wallets. (Who thinks they would ever raise the threshold?)
So, not only is an other Stealth Tax, under the guize of "It's only fair that we tax you for ...". it's also another attempt at a carbon credit trading scheme!
All rolled-up into one tidy package.
Is it like the one that Goldman Sachs used to game Billions from the general public?
It certainly smells like it. I wish I could think up schemes like this to divert money from the general public into the pocket of my friends and myself. Trouble is, if you or I did it, it would be called fraud.
(1) Peak Oil - like so many things in life - is a Belief, rather than a Fact. But many arch-propogandists has said down the ages, repeat anything often enough and people will believe it.
(2) The world's largest oil producer is now Russia, and the largest consumer is China. Russian oil production experts are exceptional in a number of ways, not least their belief in an adiabatic source of oil. They drill deeper and find oil in places traditional Western oil exploration would never dream of looking.
(3) Over the last year, the worldwide supply of oil has actually increased, and demand has been relatively static. That should be driving the price of oil down. But as around 75% of oil trading is speculation, the price is being gamed. Goldman Sachs again?
Posted by Nicholas Moore 2:01:44 pm