UK households issued ‘energy blackout’ and ‘rationing’ update from government
UK households have been issued a “energy blackout” and “rationing” update from the Labour Party government. The government has explained the likelihood in a new update for UK households.
Labour Party Energy Minister Michael Shanks has given an update on Thursday, March 26. Mr Shanks said the government is “absolutely not” preparing for energy blackouts or rationing.
The UK possesses a “strong and diverse range of supplies”, Mr Shanks said. He said: “We’re absolutely not. And look, that’s not from a point of us not taking very seriously the risks that there are at the moment and managing the situation carefully.
“But we are monitoring it, and all the data that we have is that because we’ve got a strong and diverse range of supplies, we’re not concerned about it. It doesn’t mean we don’t take it very seriously.”
Alex Grant, Equinor’s UK country manager, told MPs: “We have a fleet of around 80 vessels at any one point – we have vessels that are caught up in the Gulf situation.
“I have no better view on anyone else, which is when will the straits reopen.
“There is no shortage even in Asia, yet. Vessels take 25 days or so to sail there so at the moment they’re still just about receiving the same amount of oil that they’ve always received.
“But they can see on the horizon a big drought. Suddenly nothing coming. And they don’t know when that tunnel ends because they haven’t seen the straits reopen.
“The stress in Asia, a physical shortage problem that they can see coming, is felt much more acutely than it is here.”
It comes after it emerged the conflict in the Middle East will damage the UK’s economy more than any other industrialised nation, according to analysis by the Organisation for Economic Cooperation and Development (OECD), which warned over rising inflation.