Are politicians starting to push back on the Energy Transition?
The decision by UK Prime Minister Rishi Sunak to push out the ban on sales of new petrol and diesel cars in the UK to 2035 from 2030 seems to many to be a welcome dose of pragmatism. And, while it is a good thing to see politicians becoming more pragmatic about the auto industry’s ability to add sufficient capacity to meet political commitments, it’s also a cause for alarm in our view. Why? Because Prime Minister Sunak seems to be the first European politician to realise what the hidden costs may be for the Energy Transition. The EV target...