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Why is the UK energy industry dominated by overseas suppliers?

Despite the UK government spending billions upon billions of pounds trying to convert UK consumers to "green energy" it would appear that they have taken their eye off the ball with regards to gas supply in the UK. Today's revelation that over 50% of UK gas demand will be provided by overseas suppliers would suggest that investment in the UK gas industry has been neglected over the last few years.

As we mentioned in one of our earlier posts, it was only 2003 when the UK was a net exporter of gas which begs the question why was this gas exported if the experts could and should have predicted a shortage just six years later. Despite the fact that the UK energy industry is majority owned by overseas conglomerates, we are now in a situation where at the moment the gas industry is dependent upon overseas suppliers with little or no leeway in negotiating costs.

Even though the UK is home to some of the largest oil and gas companies in the world, namely British Petroleum and Shell transport and Trading, how on earth have we got ourselves into this current situation?

Consumers are rightly concerned regarding their ever growing energy bills, something which many people will have to learn to live with for the foreseeable future.

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