TALKING POINT
Patience Wheatcroft, Business Editor, asks if the energy White Paper will do enough and what will happen to oil prices.
"The Government today set out its long-awaited White Paper on the future of energy.
"Patricia Hewitt wants to cut carbon emissions over the next 50 years via a major expansion of renewable energy.
"Goals include doubling the share of electricity from renewable sources by 2020 from the existing 2010 target of 10 per cent.
"Spending on renewable energy will also be increased, rising to £348 million over four years.
"Has the White Paper gone far enough, however?
"Oil prices have pushed ahead recently.
"The drawn-out strike in Venezuela has already taken its toll, with US crude stocks recently falling to 28-year lows.
"Added to that is the prospect of war in Iraq and fears conflict could halt Middle Eastern supplies.
"Hawkish oil traders are predicting a US-led attack will go ahead in the first half of March.
"That could boost prices to $40 a barrel followed by a sharp decline if the war ends quickly.
"Matters are less clear if it drags out, however.
"What then is going to happen to oil prices and what will it mean for consumers?"