It says something when the best that can be hoped for is an absence of something terrible. But so it seems in the energy markets of late.
The annual benchmark survey of attitudes in the carbon market was welcomed as a sign of sunnier sentiment. But it’s worth noting that the barometer, for its improvement, does not indicate an increase in support, but rather a decrease in those who believe the market is doing more harm than good. Only 19 per cent would say the market is ideal and the majority (66 per cent) say it’s “the best we can agree on”. Hardly a ringing endorsement.
Also emerging this week is the not-terrible (read: great) news that Centrica has secured the UK’s heavy demand for gas imports from arguably the least secure gas producer in the world. UK homes and businesses are now more dependent than ever on a politically fraught relationship with Russia, but at least it’s the devil we know rather than the capricious whims of the global LNG market.
Just as well new energy minister Amber Rudd has voiced support for pushing forward on developing domestic shale gas reserves. And yes, despite this stance she has still found a warm welcome from environmentalists because, frankly, she’s not as much of a raging climate sceptic as many of her Tory counterparts.
In fact she’ll be pushing for ambitious climate targets in Paris this year, just as soon as she’s cut support for onshore wind. Reasons to be optimistic all round then.