Clearly, more drilling will not shield households from price spikes; it will mainly boost oil company profits – which explains why the industry is lobbying to scrap the windfall tax. What recent history suggests is that each hydrocarbon crisis sends its markets into turmoil: oil surges, gas follows and so does inflation. A cost of living crisis requires household support. Renewables offer a way out. Once built, the “fuel” of sunlight or wind is free. Prices are largely stable. Green power is in effect an insurance policy against geopolitical risk.