So, one big juxtaposition is between Spain and the UK.
Both have access to natural gas reserves in the Atlantic. Both have enormous wind resources, due to their large coastlines. One of them has a government focused on keeping the retail price of energy low. Another has a government focused on keeping the profit generated by energy providers high.
The UK is seeing a surge in energy prices that has nothing to do with their actual supply of energy. They’re just pegging the retail price to the global spot price, because of decades of deregulation and rent-seeking.
Spain’s real triumph is not simply its investment in domestic energy infrastructure but it’s socialist public policy with regard to energy pricing and distribution.
So, one big juxtaposition is between Spain and the UK.
Both have access to natural gas reserves in the Atlantic. Both have enormous wind resources, due to their large coastlines. One of them has a government focused on keeping the retail price of energy low. Another has a government focused on keeping the profit generated by energy providers high.
The UK is seeing a surge in energy prices that has nothing to do with their actual supply of energy. They’re just pegging the retail price to the global spot price, because of decades of deregulation and rent-seeking.
Spain’s real triumph is not simply its investment in domestic energy infrastructure but it’s socialist public policy with regard to energy pricing and distribution.
Recently watched an interview with Sanchez and I was quite impressed, especially in comparison to the UK meatheads.
There’s a reason we say we have a “Special Relationship” with the UK and not Spain.