SSE energy have made a huge profit after the last winter. As did Centrica (British Gas). At the same time the oil companies are accused of rigging the oil price in the EU. Its a fact of life that when something is in short supply whoever sells it will make huge amounts of money. With global gas supplies linked to the oil price and having tightened (certainly as far as the UK is concerned) then price increases have been inevitable. The alleged price rigging may explain some of the petrol price increase over the last 10 years or so but it doesn’t explain the rise in crude oil price. This is a global, not EU phenomenon.
Companies in the UK were accused a few months ago of rigging the wholesale gas price. Whilst this is immoral if true the effects may have been minor and in addition could have pushed the price down as well as up. The fundamental fact is that energy prices are never going to come down. (Even in the US natural gas prices are moving up having nearly doubled over the last year despite the shale gas hype.) Its a question of how do we react to this especially as Christians.
As we wrote in our book ;
“The wider challenge for the church is not just to adapt to the changing circumstances that peak oil will force upon us, but also to recognise that the church has been part of the problem. Most Christians and churches have been full participants in the dominant culture of consumerism, globalisation and economic growth, not questioning it in any meaningful way. Peak oil will fundamentally undermine this paradigm and therefore challenge not just our society, but our faith. We need prophetic voices pointing out to us how our attitude to, and our behaviour toward God’s world and its resources have been infected by the dominant world-view, and we need teaching which guides us into different ways of thinking and living.”
PS. expect a hooha over food prices as well in future years and who is making money from that.