Policy

BP oil platform in the North Sea  © Reuters

After 40 years of production that far exceeded original expectations, the North Sea oil and gas industry is in serious jeopardy. At the beginning of the year, there was a degree of optimism following Sir Ian Wood’s report and the establishment of a new, more interventionist regulator considered capable of driving a further wave of activity. But with the fall in oil prices over the past four months, the mood has changed dramatically. Read more

A solar thermal research facility  © Michael Hall/ Getty Images

Given the seriousness of the messages contained in last week’s report from the International Panel on Climate Change, one might expect some sense of urgency around the search for solutions. Regrettably, that is not the case. Governments and campaigners especially in Europe seem rigidly focused on pursuing the holy grail of a global deal, under which the world’s major economies would move together in a synchronised process of decarbonisation. The futility of that approach is evidenced by the fact that Europe itself has been unable to set an effective carbon price and has done almost nothing to advance the technology of carbon capture and storage (CCS), which is one of the few ways in which emissions could be managed. Read more

A postwar power cut; London 1947 (Photo by Reg Birkett/Keystone/Hulton Archive/Getty Images)

A power cut in London in 1947 © Reg Birkett/Keystone/Hulton Archive/Getty Images

Developed industrial economies should not be at risk of power blackouts in any but the most extreme and exceptional circumstances. The ability to anticipate demand and to put in place spare capacity may not be available to the poorest economies of sub Saharan Africa but it is certainly available in the UK. The risks of a tightening balance of capacity and demand have been obvious and widely discussed for at least the past three years. To have reached the point where National Grid are having to issue warnings and to tell some consumers that they will have to agree contracts which allow the supplies they need to be interrupted because of potential shortages of supply is shameful. Read more

  © Christophe Lehenaff / Getty Images

How far will the French government go in selling off some of its extensive portfolio of assets? In its last budget, the government said it would sell up to €4bn in shareholdings to raise money to pay down debt, or to invest in other companies. This could foreseeably include selling off parts of the government’s stakes in energy companies such as GDF Suez and EDF. But more may be necessary.

The ongoing conflict with the European Union over France’s persistent deficit, which according to the finance minister Michel Sapin cannot now be closed before 2017, is damaging France’s reputation as well as the all important relationship with Berlin. Some action is needed to buy German acceptance of a new timetable. Selling assets in itself would not solve the problem but could reduce debt levels and produce much needed revenue. As a concept, however, privatisation is still considered toxic in France. The terms of any sale will have to reflect these political constraints.

Any Brit commenting on France has to be careful after the childish abuse from Andy Street, the managing director (for the moment) of retailer John Lewis. France has its problems, as any Frenchman will tell you, but it is not “finished” or a country where “nothing works and nobody cares”. Mr Street should visit the thriving areas of the South West. He should remember that France, supposedly so hostile to globalisation, has 31 companies in the latest Fortune 500 listing against 28 each from Germany and the ultra-global UK. I hope that the Franco British Council, the Colloque and the other institutions that have laboured for years to build good relations with France are evidence that Mr Street speaks for no-one but himself. Read more

8th June 1939:  Babies in a row of cots brought out for some sun by their nurses at the Duchess of York's Hospital for Babies at Burnage, Manchester.  (Photo by Fox Photos/Getty Images)

  © Fox Photos/Getty Images

A new academic study, the results of which were published last month in the magazine Science, suggests that previous population projections have been understated. Rather than plateauing at 9bn the global population could rise during the current century to 11bn or more. How can the world manage such numbers?

The focus of attention – in politics, markets and companies – is so concentrated on the short term that long-term challenges are easily lost from sight. Tomorrow’s problems are left to tomorrow’s leaders. However understandable when individuals are working under the pressure of 24/7 news cycles and quarterly reporting standards, the result is that some of the most profound challenges are being neglected. Population growth is perhaps the most fundamental challenge of all because its consequences are so widespread.

The issue has been raised again by the publication of a new research paper from the University of Washington. Professor Adrian Rafferty and his colleagues argue that for a variety of reasons (including the success of the fight against Aids and the failure of attempts to spread knowledge on contraception), the global population could now be 2bn or more higher in 2100 than previously anticipated – that is within the lifetime of many of the children alive today. Read more