Alan oddly enough Down Under there is a new underwater HVDC that enters the sea near an aluminium smelter. I think by 2020 summer demand from ACs at the other end won't leave enough power for industry. Now I've gotta tie this in with personal carbon quotas...hmm.

Alan,

I think we are going to endure a "terrible shape" for far longer than the six to eight year period you suggest. We are doing next to nothing to compensate for the loss of 15% of our generating capacity by 2012 (the last 5% by 2014, I believe). Our use of coal expanded by 18% last year with a commensurate fall in gas of 17%. Currently we are a net coal importer. We have squandered our oil and gas and are facing an ever growing level of imports. As for gas, we are next to last in the chain that streches from Russia to Ireland. We have a population of more than 60m in a space the size of California. Water is currently becoming an issue and will end-up in a traditional north-south divide, IMO. We're not a mineral rich nation. Our coal mines would require a significant effort to repair and make ready for mining. We are in the midst of a housing bubble that is every bit as significant to us as the one in the US. Debt is at record levels. There seems to be a general increase in prices overall. The economy is totally dependent on consumer spending which is slowing and yet the source of the spending has been primarily the housing bubble.

IMO the UK is headed for a period of deflation and instability it has never experienced. I would cut and run but my family seems wedded to the notion of remaining. I wish we would at least sell-up and rent, but Maggie's obsession with home ownership has completely brainwashed my spouse. So, here I remain while the London Olympic commitee is planning for a spectacular I suspect will be remembered only because it was the last Olympic's of any scale and was a fantastic failure.

There, I've said my piece. Thanks for listening.