• 5 hours PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 7 hours Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 9 hours Syrian Rebels Relinquish Control Of Major Gas Field
  • 10 hours Schlumberger Warns Of Moderating Investment In North America
  • 11 hours Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 12 hours Energy Regulators Look To Guard Grid From Cyberattacks
  • 14 hours Mexico Says OPEC Has Not Approached It For Deal Extension
  • 15 hours New Video Game Targets Oil Infrastructure
  • 17 hours Shell Restarts Bonny Light Exports
  • 18 hours Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 1 day Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 1 day British Utility Companies Brace For Major Reforms
  • 1 day Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 1 day Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 2 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 2 days Kinder Morgan Warns About Trans Mountain Delays
  • 2 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 2 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 2 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 3 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 4 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 4 days OPEC Oil Deal Compliance Falls To 86%
  • 4 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 5 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 5 days Aramco Says No Plans To Shelve IPO
Global Energy Advisory Friday 20th October, 2017

Global Energy Advisory Friday 20th October, 2017

As tensions surrounding Kurdistan rise,…

Oil Is Stuck In A Range, Waiting For A Catalyst

Oil Is Stuck In A Range, Waiting For A Catalyst

Oil bulls might have become…

Despite Political Resistance, Japan To Resume Nuclear Power

Despite Political Resistance, Japan To Resume Nuclear Power

It’s been more than four years since the nuclear disaster at the Fukushima Daiichi power plant, caused by a seismic tsunami, and Japan has finally approved the restart of its nuclear power industry. But now the eruption of a volcano near one of the facilities is raising new questions over safety.

All Japan’s nuclear power plants were shut down because of the explosions and meltdowns on March 11, 2011, at the Fukushima plant. But Japan’s Nuclear Regulation Authority (NRA) said May 27 that the reactors at the Sendai plant in Satsumasendai had passed their final safety tests. As a result, its owner, Kyushu Electric Power Co., could restart the No. 1 reactor can restart in late July, then the No. 2 reactor in late September.

Related: Electric Vehicles To Become Mainstream In Short Period Of Time

The resumption service at Sendai, about 600 miles southwest of Tokyo, has also been approved by local officials. In April, for example, a local court denied an effort by neighbors of the plant to block the restart for fear that it may be susceptible to damage from nearby active volcanoes.

The plaintiffs have appealed that decision, and not too soon. Two days after the NRA approved the Sendai restart, on May 29, nearby Mount Shindake erupted on the small nearby island of Kuchinoerabujima, forcing the evacuation of all its 140 residents. The flare-up caused a column of smoke and ash 30,000 feet tall to gush up into the sky.

No deaths and only one minor injury were reported from the Mount Shindake eruption, but many in Japan – not just neighbors of the volcano – say resuming service at Sendai isn’t worth the risk. After all, the Fukushima accident, the worst since the 1986 Chernobyl disaster in Ukraine, forced the evacuation of 160,000 nearby residents, most of them permanently.

Related: Bursting The Solar Leasing Bubble

Because of the suspension of nuclear service, some electric utilities have decided to abandon older power plants, reducing the number of such facilities to 43, compared with 54 before Fukushima. To compensate for the suspension of nuclear power, the Japanese have been forced to bear the expense of importing fossil fuels to generate electricity, causing household utility bills to rise by 20 percent.

Yet most polls show about twice as many respondents opposed to a resumption of nuclear power service as those who favor it. Many of those surveyed cite Japan’s vulnerability to such seismic events as earthquakes and volcanic activity.

But the Japanese government under Prime Minister Shinzo Abe appears determined to go ahead with the restarts – or at least the Sendai restart. This despite the adamant opposition of one of his predecessors and mentors, Junichiro Koizumi, who has become an opponent of nuclear power since the Fukushima accident.

On June 4, Koizumi said the Abe government’s decision to restart nuclear plants was “in breach of [Abe’s] election pledge” during last year’s parliamentary campaign to lower Japan’s reliance on nuclear-generated electricity. Abe’s government plans to cut nuclear power generation to 20 to 22 percent by 2030, compared with 30 percent before the Chernobyl accident.

“Has he already forgotten what he said during the election?” Koizumi asked during a news conference in Kagoshima Prefecture, the region where the Sendai plant is situated.

Related: Asian Financial Sector Hit Hard By Low Oil Prices

Rather than merely reduce reliance on nuclear power plants, Koizumi said, Japan should scrap them altogether. He said this would give Abe an opportunity to play “a historic role” in a “country which should not have nuclear power” because of its vulnerability to natural disasters.

By Andy Tully Of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News