But points of interest still arise.
- The days when the Beeb's policy was for active suppression of climate-change skepticism are, it seems, over. (Davey was more than just called upon to defend his position: Neil made it clear that in his view, Davey had failed to do so.) That's not a trivial development.
- Davey's principal fall-back arguments were (1) a Pascal's wager: even given uncertainty, it's still appropriate to insure against the downside of possible climate change (2) "a lot of our policies are 'no-regrets' policies" - we should be doing them anyway.
(The only thing that might represent insurance is adaptation and, as we know, UK expenditure on flood defences is pitiful.)
As for 'no regrets' policies, Minister, You Are Having a Laugh. Only self-financing, unsubsidised energy conservation measures and small-scale biomass / waste incineration could conceivably fall in this category: everything else is a massive gamble on rising gas prices - a huge speculative long. With our money.
At best, the other steps being taken might contribute to a bit of security of supply, and to Keynsian job-creation. But there would be cheaper and more effective ways of doing both. Nope, it isn't remotely difficult to paint the 'regret' scenarios.
This post first appeared on the Capitalists@Work blog
All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.