FULL details on just how close the Bailiwick of Guernsey came to disaster are only just emerging following Friday’s dramatic disclosure that the islands are now the proud owners of two fuel ships.

In today’s front page story we learn that because a vital shipment of fuel en route to Guernsey had been impounded by shipping company administrators, the island was potentially less than a week from running out of petrol, diesel, kerosene for domestic and commercial heating and aviation gasoline.

In a sobering foretaste of a world where carbon fuels are running out, the Policy Council got an early glimpse of a bleak future unless alternative energies are quickly embraced.

It was not a pleasant vision and, with some judicious rule bending, the council sought to act swiftly and secretively.

Few people can doubt that it was right to do so.

What some may question is firstly how it was that the island came so close to the rocks. All major businesses have a disaster recovery plan, where staff are encouraged to examine the most vulnerable parts of their business. Once identified, contingency measures are put in place to nullify the danger and ensure that the show goes on.

Manifestly, that process failed here. Suitable drying fuel ships have been dwindling in number as the rest of the world improves its harbours, but only in January, after the purchase, will the island’s deputies have a chance to debate this most vulnerable of Achilles’ heels.

The second question must revolve around the part played by the fuel companies.

Taxpayers suddenly find themselves liable to invest something like £16m. in an industry in which it has little expertise. Furthermore, it comes at a time when a deep recession looms and schools, hospitals and the runway all need major investment.

Among the major beneficiaries of this move are the fuel companies, both of which have millions of pounds of assets and future earnings at stake.

The companies say that it is not their business to own ships. That’s not the way they work.

Yet up until a few days ago, it was not the way government worked either.