Policies based on fantasy is never a good thing

Scotland 'risking a blackout' in a bid to go green

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Mr Soames attacked politicians for being too focused on long-term targets several decades away, and for having no "Plan B" when it comes to addressing the threat of more immediate energy shortages.

"We may wish the replacement to be wind; we may wish it to be tidal; but wishing isn't going to make it happen," he said. "We need a Plan B."

But Mr Soames did not reserve his criticism for Scotland.

"At the moment we as a nation are turning up to meetings with the bank manager in jeans and a T-shirt that says: 'Jesus loves you'," he said.

"All of this leaves investors shaking their heads.

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It's a foretelling of what will happen here. I fear California will be first.