Britain's Energy Policy Is Making You Poorer

The UK has the highest industrial electricity prices in the developed world. British factories pay four times more than American ones. And Britain just banned exploration in the same North Sea basin where Norway is actively drilling. In this episode, Neil Woodford explains why Britain's energy policy isn't just expensive — it's self-defeating. Industry is relocating to China, where it runs on coal and ships goods back on bunker fuel. The emissions didn't disappear. They moved somewhere with lower standards and a longer supply chain. Meanwhile, Norway — drilling in the same geology — has a $1.7 trillion sovereign wealth fund. Britain has 7.5 days of gas storage. We cover: — Why UK industrial electricity prices are 125% above the European median — How energy policy is driving a vicious circle: high costs, lost industry, wider trade deficit, weaker pound, costlier imports — The Norway contrast: same sea, same geology, opposite decisions — Why Britain has almost no gas storage and what that means when the Gulf goes up in flames — What this means for UK assets and where Neil sees the opportunity — Why Neil thinks this policy will inevitably reverse — and what happens when it does Last week, we discussed how central banks can worsen energy shocks. Watch that episode here: https://youtu.be/Ee7ZEZMbOPw?si=sm2zBEEhoGlxTcIi