Latest Energy News | World News
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Japan Starts to Invest in Tsunami-Proof, Floating Wind Farms
Following the earthquake and tsunami that hit Japan in 2011 causing one of the world’s worst nuclear disasters since Chernobyl at the Fukushima nuclear power plant, the Ministry of Trade and Industry (MITI) announced its plans to develop more floating offshore wind farms. The floating Kamisu wind farm just off the coast of the Ibaraki prefecture comprises of just seven 2 megawatt wind turbines, but was able to withstand the tsunami and provided vital electricity in the wake of the disaster. Using as much as ¥20 billion ($260 million) from the reconstruction budget, created to help redevelop the damaged areas…
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Canada Threatens EU with Trade War over Oil Sands Ban
The European vote on the 23rd February which could potentially classify Canada’s oil sands as highly polluting and effectively ban their trade with the EU, has attracted angry retaliations from Canadian officials. Canada fears that the EU Fuel Quality Directive (FQD) could set a precedent to other countries around the world, affecting the exports of its tar sands. Canada’s oil minister, and David Plunkett, ambassador to the EU, sent some letters to the European Commission threatening, "Canada will not hesitate to defend its interests, including at the World Trade Organisation." Darek Urbaniak of Friends of the Earth condemned the letters…
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Energy Crisis in the Gaza Strip Threatens Hospitals
The Gaza Strip is in the middle of an energy crisis that is close to developing into a full blown humanitarian crisis as their only power plant was forced to shut down operations on 14th February due to a lack of fuel. “The current crisis is a political problem that started six years ago. The Israeli occupation, the Palestinian Authority's refusal to provide the Gaza Strip with funds, and the policy of Egypt which is dealing with Gaza out of security calculations, have all contributed to the current situation,” said Hamas government spokesman Fawzi Barhoum. Following Israel’s trade block, Gaza…
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Middle East to Spend 180 Billion Dollars on New Energy Projects
A new report by the market researchers Venture Middle East has announced that the Middle East is due to spend a combined $180 billion on new water and power projects during the next few years. During this period the demand for power is expected to increase by 10 percent. Anita Mathews, director of the Middle East Electricity Exhibition, which took place in Dubai for focussed consideration of the power, nuclear, renewable and water sectors, has said that, “According to the World Energy Council, the GCC will require 100 GW of additional power over the next 10 years to meet growing…
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UK's Nuclear Sector Set to Expand Following New Energy Pact with France
On Friday the British Prime Minister David Cameron signed a new energy pact with French President Nicolas Sarkozy that will lead to the construction of more nuclear power plants in the UK and attract more than £500 million ($791 million) of private sector investment. Cameron said that, “as two great civil nuclear nations, we will combine our expertise to strengthen industrial partnership, improve nuclear safety and create jobs at home. Deals signed today will create more than 1,500 jobs in the UK.” After the Fukushima incident many nations cut back on their nuclear programs and looked for other, safer sources…
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Keystone XL Likely to be Reviewed After US Presidential Elections
In January President Barack Obama delayed any decisions on the Keystone XL Pipeline, citing that he needed more time to assess the environmental impacts. He has not rejected the pipeline, which gives TransCanada, the company behind the proposal, hope for a permit grant in the future. Many believe that Obamas delay is merely a political ploy to avoid making a controversial decision during an election year, which is bound to upset many people no matter which way he votes. As such, the belief is that talks will reopen after the presidential election in November. Ron Liepert, the finance minister of…
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Australia Look to Free Market Economics for their Energy Security
The general energy objective in the US is to achieve energy independence, because they believe it will ensure energy security. In Obamas State of the Union speech he proclaimed that “with only 2% of the world’s oil reserves, oil isn’t enough. This country needs an all-out, all-of-the-above strategy that develops every available source of American energy.” Mitt Romney showed his agreement that energy independence is linked to energy security when he said “it doesn't make sense to me to send $1 billion a day out of our country. We can be energy independent and should be.” In fact a recent…
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No Peak Oil - Why Then is Saudi Aramco Opening Old Wells for Heavy Crude?
Following the Iranian Revolution in 1979 demand of oil from Saudi Arabia fell from ten million barrels per day (bpd) to three million bpd. As a result of the reduced production many small oil wells were closed down, including the Dammam oil field, home to Saudi Arabia’s oldest wells. Sadad al- Husseini, once the executive vice president for exploration and development at Saudi Aramco, said that, “we simply didn’t need small fields like Dammam, and in fact shut in fully or partially many other fields including Khurais, Khursaniya, Qatif, Abu Hadriya, Harmaliyah and several others.” Currently oil demand is at…
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Should the UK Help Ban Canada’s Tar Sands from Europe?
The EU is currently discussing a Fuel Quality Directive, which will designate Canada’s tar sands as 22% more polluting than conventional fuels and effectively ban any fuel derived from them from being used in Europe. Canada greatly fears this directive as it would not only cut off a huge market, but could also set a precedent that other countries may follow. The UK government has been actively supporting Canada’s attempts to prevent this European proposal. Norman Baker, the UK Transport Minister, defends his government’s stance, saying that they want, not just oil sands, but all types of crude oil to…
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US Pleas for Asia to Cut Iranian Oil Imports Fall on Deaf Ears
Last year China, India, Japan, and South Korea accounted for 60 percent of Iran’s total oil exports, providing the country with $100 billion of revenue. As the EU oil sanctions take effect in July, Iran will feel an economic squeeze, which the West is hoping will force Tehran into talks over their nuclear regime. To further deepen the losses felt by Tehran the US are trying to encourage the Asian buyers to reduce their imports of Iranian oil. Unfortunately, the US have found that there suggestions have fallen on deaf ears, as South Korea and Japan are unwilling to cut…
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