As we know, Prime Minister Liz Truss has appointed Kwazi Kwarteng the former Secretary of State for Business as the new Secretary of State for the Treasury, a.k.a. Chancellor of the Exchequer.

Kwazi Kwarteng is one of the high priests of the Climate Change dogma and the Net Zero Policy and was the leader of the UK group hosting COP26 in Glasgow last year.

Now when the money-go-round of musical chairs occurs at each budget and the music stops, he will make sure there is a seat for Climate Change spending to the detriment of other public services and to the energy bills of industry and the people.

This immediately tells us that Liz Truss will only be doing short term relief of the Climate Levy on bills and intends long term to continue spending on renewable infrastructure and subsidies.

On the international scene the Russian conglomerate Gazprom has now decided not to reactivate Nord Stream 1 Pipeline gas service to Europe after its recent technical problems. 

Gazprom has for a while now been supplying Europe with gas and receiving no payment. This is because the West applied sanctions preventing payments to Russia in Dollars, and Russia has demanded instead to receive payment in Roubles, which the West refuse to do. 

It is hardly surprising that Gazprom has stopped supplying the gas.

On the other side of the world China who is not applying sanctions to Russia is paying them quite happily in Dollars, of which it is overflowing, for all the gas it needs to import, and getting it at a preferential price. So, although Russia is not supplying so much gas to the West, China is the big winner. This is really a matter of heads they win and tail you lose.

The UK Independence Party requires the new Prime Minister to immediately overrule her newly appointed Chancellor and issue permits for fracking wherever in the UK there are suitable areas to start moving towards self-sufficiency in natural gas.

Image: Joshua Doubek, CC BY-SA 3.0 <https://creativecommons.org/licenses/by-sa/3.0>, via Wikimedia Commons