WTI Crude •10 mins	40.52	+0.23	+0.57%
Brent Crude •10 mins	43.15	+0.25	+0.58%
Natural Gas •10 mins	1.757	+0.011	+0.63%
Mars US •4 hours	40.94	+0.04	+0.10%
Opec Basket •2 days	43.38	-0.08	-0.18%
Urals •22 hours	42.85	+0.00	+0.00%
Louisiana Light •2 days	42.06	-0.40	-0.94%

	Louisiana Light • 2 days	42.06	-0.40	-0.94%
	Bonny Light • 22 hours	43.44	+0.02	+0.05%
	Mexican Basket • 2 days	37.10	+0.32	+0.87%
	Natural Gas • 10 mins	1.757	+0.011	+0.63%
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Marine •22 hours	42.79	-0.64	-1.47%
Murban •22 hours	42.97	-0.66	-1.51%
Iran Heavy •22 hours	42.72	-0.09	-0.21%
Basra Light •22 hours	46.60	-0.04	-0.09%
Saharan Blend •22 hours	42.98	-0.02	-0.05%
Bonny Light •22 hours	43.44	+0.02	+0.05%

	Bonny Light • 22 hours	43.44	+0.02	+0.05%
	Girassol • 22 hours	44.50	-0.20	-0.45%
	Opec Basket • 2 days	43.38	-0.08	-0.18%
OPEC Members Monthly
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Canadian Crude Index •5 hours	29.10	-0.05	-0.17%
Western Canadian Select •3 hours	32.85	+0.30	+0.92%
Canadian Condensate •21 hours	39.10	-0.45	-1.14%
Premium Synthetic •21 hours	40.50	-0.45	-1.10%
Sweet Crude •3 hours	36.45	+0.00	+0.00%
Peace Sour •3 hours	36.25	+0.20	+0.55%

	Peace Sour • 3 hours	36.25	+0.20	+0.55%
	Light Sour Blend • 3 hours	36.90	+0.20	+0.54%
	Syncrude Sweet Premium • 3 hours	38.15	+0.10	+0.26%
	Central Alberta • 3 hours	36.25	+0.20	+0.55%
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Louisiana Light •2 days	42.06	-0.40	-0.94%
Domestic Swt. @ Cushing •22 hours	36.75	+0.25	+0.68%
Giddings •22 hours	30.50	+0.25	+0.83%
ANS West Coast •5 days	43.96	+0.63	+1.45%
West Texas Sour •22 hours	34.24	+0.19	+0.56%
Eagle Ford •22 hours	38.19	+0.19	+0.50%

	Eagle Ford • 22 hours	38.19	+0.19	+0.50%
	Oklahoma Sweet • 22 hours	36.75	+0.25	+0.68%
	Kansas Common • 2 days	30.25	-0.50	-1.63%
	Buena Vista • 2 days	44.74	-0.45	-1.00%
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Charles Kennedy

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Abe Announces $302 Billion Plan to Restructure Japan’s Electricity Industry

By Charles Kennedy - Jun 06, 2013, 4:52 PM CDT

Japanese Prime Minister Shinzo Abe dealt a blow to the countries utility companies as he announced on Wednesday that he supports a new plan to invest 30 trillion yen ($302 billion) into Japan’s electricity industry to boost competition, and renewable energy installations. He also made no mention of whether or not nuclear power plants will be restarted anytime soon.

This plan to restructure the power generation business poses a threat to utilities, who had been hoping that nuclear power plants would be given the go ahead to restart.

Bloomberg notes that “Japan’s 10 regional power companies own more than 70 percent of the nation’s generation capacity and control transmission and distribution networks.” So talk of increased competition is worrying news for their investors.

Abe explained that “for 60 years after the war (WWII), one giant power company in each region has dominated from power generation to transmission to retail. The times are changing. We are in the age where consumers themselves produce power.”

Share values for Japanese utility companies fell for the second day in a row on Thursday, after the announcement. Shares in Tokyo Electric Power Co., which owns the Fukushima Daihatsu nuclear power plant, fell 7.4% on Thursday, after falling 16% the day before. Shikoku Electric Power Co. Inc., Hokkaido Electric Power Co. Inc., Kansai Electric Power Co. Inc., Tohoku Electric Power Co. Inc. also fell for the second day in a row.

On the other hand, smaller energy companies such as Marubeni Corp. and Softbank Corp., who are planning to invest in renewable energy projects, are likely to benefit greatly from the new reforms.

By. Charles Kennedy of Oilprice.com

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