UK Secretary of State for Energy and Climate Change, Ed Davey, is worried about rising energy costs in Europe whilst energy costs in N America are going in the opposite direction. But he doesn’t seem to understand the root cause of the situation or how to tackle the problem. Primary energy production peaked in Europe in 1996 at 1138 million tonnes oil (mmtoe) equivalent and has since fallen to 970 mmtoe in 2012. That is a drop of 15% (Figure 1) In N America, primary energy production hit a new peak in 2012 of 2512 million tonnes oil equivalent. That is up 8.5% since 1996 (Figure 1) Rising energy production in N America and falling Energy production in Europe lies at the heart of energy prices trading in opposite directions on either side of The Atlantic. Europe has a population of ~ 739 million who produce 1.31 tonnes oil […]