Did I hear Sajid Javid say in the Commons that no government can control the market price of steel? Of course they can. The Chinese government has just dramatically reduced the price by dumping. The Saudi government in the past raised the price of oil by restricting supply. It is called power, or monopoly, and you get more power by destroying competitors’ industries. I once thought Sajid Javid must be knowledgeable about business. I now doubt it.
Whitby, North Yorkshire
• Nils Pratley’s analysis of Hinkley Point was good (22 October) but he failed to appreciate the full impact of using CPI to determine the future price of electricity generated. If the price of oil were to rise to $150 per barrel, inflation goes up and so does the price Hinkley Points can charge. A win-win situation if you are Chinese. Poor value for the rest of us.
Source: Guardian Environment