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Global economy supplement: energy bills will rise

Price caps will only increase energy bills

By Malcolm Grimston  

Fracking: the process that has led the US to energy independence. © Joshua Doubek

One of the many challenges for energy investors and planners concerns timescales. Energy investments involve huge amounts of capital with long payback periods, and operating lifetimes generally counted in decades. Yet market sentiment, and energy prices, change rapidly. A glance at the oil price over the last 50 years illustrates the point.

As had been the case in the 1970s, the five-fold…

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