As a lifelong Conservative, I'm frustrated by the party's recent drift towards statist interventionism, and the energy sector is no exception. The Net Zero targets are a prime example of this, with unrealistic timelines and a lack of consideration for the economic consequences. We need to take a step back and let the free market drive our energy strategy, rather than ideological purity.
A free market approach would allow us to prioritize security and affordability, while still reducing our carbon footprint. This means investing in cleaner ways to use fossil fuels, like carbon capture and storage, and ensuring we have a robust domestic supply. It also means avoiding blanket bans on new exploration and instead, letting the market decide where investment should go. I've seen this approach work in other sectors, where competition and innovation have driven down costs and improved efficiency.
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