From listening to this week's 'Briefing Room' on 'The UK's Energy Crisis', we've never had a sovereign wealth fund, as Norway had from the outset and the very minimal gas storage capability of 1 to 2%. On the mainland of Europe it was, and remains, at 20 to 30%.
The energy policy of all UK governments has been to live it up today and to hell with tomorrow. Never to prepare for the worse. Unless, it's the feint possibility of Russia bombing us when we do, THEN raise our WMD stockpile by 40% and replace Trident! We prepare for war but never prepare for inevitable gas and oil shortages. I remember Porritt talking on the radio about resource depletion and climate change in the 1980s. Like all prophets, he was ignored!
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