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  • Going back to the whole cost of living crisis and nationalising essential services. Surely wholesale gas prices are only an issue for countries that don't have any gas supplies themselves.

    But in the UK the North Sea produces more natural gas than we actually use. The issue is that private companies are extracting the UK's gas, then selling them to the highest bidder on the international market. If the government were to take back control of their own gas supplies, they could supply all of the UK's gas at cost price.

    Is this a gross simplification?

  • And given the giant profits the energy producers are making, presumably the cost of extraction isn’t anywhere near (or as volatile as) the wholesale price.

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