Energy Saving Hacks You Need Before Winter

And I always say to everyone on the podcast or any of my guests, I'm always like, if i knew i could invest them in i walked out the room i would have done it because i would have been so rich by and that would have helped with my purchase as well my first home but obviously as we head into winter like i mentioned energy bills are on the rise but why are energy bills such a big expense for households still and why what are the biggest factors currently driving the cost of our energy bills at the moment

I mean, it's a good question and it's a frustrating one.

I mean, it feels like almost endless now we've been in this kind of energy bill crisis.

Obviously, and in fact, if you look through decades going back, fossil fuels are actually at the heart of it.

When the fossil fuel, I mean, gas or oil supply chains get disrupted by global events, that is actually historically one of the biggest drivers of inflation in general.

We've had two, obviously the Russian invasion of Ukraine and then the US-Israel attacks on Iran.

Both have spiked the energy price by disrupting the supply chains.

That is the fundamental reason why prices are so high.

And honestly, it's a bit disingenuous that you see some right-wing newspapers and some right-wing politicians trying to shift the blame onto renewable energy when it's literally the renewables that are, generally speaking, protecting us from those international prices that we can't control.

So that's the top reason.

It is probably fair to say that the upgrades that we're doing to our energy system right now to allow to accommodate all the wind turbines and solar and things like that do have a cost.

It's an investment, but it's not the primary driver or the trouble that we're experiencing right now.

Really, we'd be better off if we just got off those volatile things.

If I can go one more, though.

Go

on.

There was also a really bad decision made, you know, decades ago now when we had all this North Sea oil and gas and we privatized it and we gave it to private companies to profit here off.

Norway didn't do that.

Norway now has this huge sovereign wealth fund.

They've got a lot of protection from international price spikes.

And actually their sovereign wealth fund now controls something like two to three percent of all listed businesses on planet Earth.

Wow.

That's what they did with the money they made from that oil and gas.

Wow.

We gave it to companies like BP.