Am a fan of @Nutstuffalpha he writes well and is thought provoking He dead right - the policy response or accurately the lack of policy response from @energygovuk @Ed_Miliband and @mgshanks is simply outstanding He makes the point (adding to the hypocrisy of importing dirty hydrocarbons than using domestically produced oil / gas as they book carbon on the producer not the consumer) that wind turbine blades need replacing every 20 to 25 years and are not as of now recyclable. IE aside from the price of the electricity generated being sky high they are simply not green - rare earth magnets from Congo, steel, concrete and fibre glass etc … Reality is 80% of the economy runs off hydrocarbons. 15 nations or so pivot in Europe to coal. None have the optionality of the North Sea. The Strait is still closed. Supplies go lower. Crisis now or Winter 2025/2026 given gas storage levels so low. North Sea Brent at 30% premium to Brent It’s simply mad. We should be approving everything and encouraging production ramp now. Replace EPL with a windfall tax. Why oh why are we closing it? Someone somewhere make it make sense @7Kiwi @KathrynPorter26 @afneil @LiamHalligan @LukeJohnsonRCP @RachelReevesMP @Keir_Starmer @UKLabour @Peston @EdConwaySky

Must watch youtube.com/watch?v=eeH6ABTj… Please forward Someone somewhere has to curtail Miliband

This week the most advanced AI model on the planet got switched off by a foreign government. British researchers were studying it. British companies were testing it. British hospitals were piloting it. Not any more. This isn't an AI story. It's the story of every industry we used to lead. Britain has some of the best AI talent in the world. DeepMind was built here. Our AI Safety Institute writes the rules other countries follow. We have the researchers, the universities, the standards. What we don't have is the power stations to run the data centres, the planning system to build them, or the industrial base to make the chips. So the work happens here and the value lands somewhere else. We invent. Others build. Others decide. Then we read about it on Saturday morning. Same story as the kit our soldiers don't have. Same story as the factories we used to. I spent nine months in government making this argument inside the room. I'll make it louder from outside.

Every @UKLabour MP should read this and then step back The amount of money Milibrain is spending on unproven tech (carbon capture) and foreign climate aid is extraordinary Pathetic that @Keir_Starmer / @RachelReevesMP could not end this. It’s an indictment of everything that is wrong - no leadership. A party for the shirker not the striker A party of ideology not reality @energygovuk spends billions on “vanity” projects like carbon capture - an explicit waste of money and then billions implicitly driving up our energy bills through subsidies to Intermittent’s and enormous network and transmission costs that cause inflation (improvement) and lower real gdp Makes this madness stop.

Healey and Carns resigned because Rachel Reeves won't admit the choice: either defend the realm or expand welfare. Not both. Starmer's "3.5pc of GDP" on defence is a deceit that everyone pretended to believe. The pretence just ended. My thoughts:- comment.press/healey

The next war won't be won by armies, navies or air forces alone. It'll be won by the country whose 19 year olds can code, whose factories can build drones in weeks not years, and whose grid stays on when someone tries to switch it off. Industry. Society. Economy. That's the fight now. We're not ready. And we're not being honest about what getting ready will cost.

Spot on re energy 👇

Britain spent a decade choosing to be smaller in the world. Right now the rules on communications, energy and trade are being rewritten. By China. By Russia. By countries that take their own security seriously. We need to be at that table. That's a choice we must make. Strong countries get cheap energy. Weak countries pay whatever the strong ones decide.

Those who drove John Healey to resign will pay the price thetimes.com/article/1b997d8…

Miliband is destroying the UK

Am surprised Enquest is not a lot higher Hugely accretive

I hate the fucking tube drivers

Excellent thread

Read this @fionaharvey

All @UKLabour should read this @EdConwaySky should do a programme on this Miliband is a one man wrecking ball

This is why Britain is a low-growth, high-tax economy. Those figures come from a pro-net zero lobby group commissioning its own research to justify its own agenda. What she fails to mention is that this industry wouldn’t “thrive” without British households paying billions a year each to subsidise a racket that makes us all poorer. This is not a free market success story. It is a state-backed transfer of wealth that was enshrined in law by the Tories.

One should try and understand bull and bear

My time line is inundated with buy recommendations off photonic / optic names. Lots of the commentary is summarised as it is “red hot” insatiable data centre demand and it’s a small company supplying a big company so it’s an endorsement. No mention that big companies often place “free hits” with small companies, never source exclusivity, that said small companies will need capital to scale and time nor finally valuation. The EV to Sales gap between those that will see orders from the hyperscalers and those that will use AI to make their businesses better is very very stark. See TPX impact EV/Sales to Gross Margins to ROIC to say a IQE. You can skin a cat multiple ways. Noise is not Alpha

You're right, and it's going to get worse. x.com/7Kiwi/status/206099228…

But @MerrynSW DESNZ denied categorically earlier today that this was the case ……….did @energygovuk lie? I suspect we know why we suddenly agreed to buy refined products from Russia…. Miliband @Ed_Miliband is minister for energy security and net zero. Easier Ed to import Russian refined products than support domestic refineries….is that because like importing hydrocarbons that are worse for the planet you book the carbon on the producer not the consumer Tick Tock @EdConwaySky

The purpose of the Labour Party is redistribution - not growth. Their MPs do not ask how wealth is created. Instead they ask who can be squeezed next and who can be bought off with the proceeds. They expect you to work, pay and keep quiet while others benefit at your expense.