I don't need to waste my time reading in full a proposal that is destined to be absurd from its initial premise. I am glad that the Tories acknowledge how silly their own idea is.

In the long run the proposal cannot work because the revenue taxes are paid on oil-co profits, which will diminish.

It ignores the fact that people must not be "protected" from the rising price of energy. They must be totally exposed to it. The government should not be mitigating hydrocarbon taxes, they should be raking it in and investing hugely in giving us alternatives to burning hydrocarbons in private motor vehicles.

The proposal is, on any level, dangerous and stupid. The Tories are dangerous and stupid. Labour aren't very much better. At least they pretend to understand the issues around energy supply and consumption.