I like neeps wrote: ↑Thu Aug 25, 2022 3:47 pm
I'm kind of fine with the energy privatisation - yes companies are destroying the planet and yes they've created untold wealth for states actively hostile to the west and democracy but "the market" hasn't failed. We've just cut off a major supplier to try and stop a war. The market would surely suggest we don't do that?
Water is obviously a disaster.
The market, or marketisation of utilities has failed, some things are just not suitable for running that way and energy is one of them, defence, health provision, policing are others.
If I make a widget then a market is an efficient way of getting my widget sold, if it is no good or nobody wants it then the market will soon show that and public funds are not wasted in subsidising it, although to an extent they are, public funds educate the workers who make the widget, they heal them, they provide roads, security, legislation regarding copyright etc and they will put out your fire, at every step public funds underwrite private business.
A long term view of the energy sector would have seen nuclear power stations being built in the UK until the holy grail of full self-sufficiency via renewables is achievable.
However that is expensive and contrary to market values and that is why the market has no place in energy provision.