The energy industry is at the governments’ knees begging for help - big dollops of taxpayer cash to build experimental power stations. It is not merely subsidies that the energy industry demands, it is guidance, direction and regulation. The continuous clamour from big oil to civil servants in Brussels, Washington and Whitehall is: “Tell us what you want us to do. What kind of energy, what kind of biofuel, which renewables, where to invest and to what specification.” Is it nuclear power, hydrogen, biofuels or old king coal with new and improved carbon capture? Weeping hysterically, the energy barons cling to the skirts of the civil servants and ask for guidance. It is deeply depressing, because we know there is little knowledge and no leadership in government. Never before in the history of capitalism has such a powerful industry swallowed so much humble pie. ... Today, regulators are being asked to impose very expensive forms of energy on consumers and to grant licences to companies to make money in captive regulated markets. It is a licence for some to make money, but a good bet that it is also a political disaster in the making.