Louisiana Light • 1 day | 77.96 | -4.14 | -5.04% | |||
Bonny Light • 1 day | 80.11 | -1.52 | -1.86% | |||
Opec Basket • 1 day | 82.75 | -1.41 | -1.68% | |||
Mars US • 25 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 10 mins | 2.233 | +0.053 | +2.45% |
Bonny Light • 1 day | 80.11 | -1.52 | -1.86% | |||
Girassol • 1 day | 80.79 | -1.42 | -1.73% | |||
Opec Basket • 1 day | 82.75 | -1.41 | -1.68% |
Peace Sour • 10 hours | 58.61 | -0.68 | -1.15% | |||
Light Sour Blend • 10 hours | 62.46 | -0.68 | -1.08% | |||
Syncrude Sweet Premium • 10 hours | 67.06 | -0.68 | -1.00% | |||
Central Alberta • 10 hours | 60.61 | -0.68 | -1.11% |
Eagle Ford • 4 days | 72.02 | -1.56 | -2.12% | |||
Oklahoma Sweet • 1 day | 71.50 | -0.75 | -1.04% | |||
Kansas Common • 6 days | 67.25 | -0.75 | -1.10% | |||
Buena Vista • 6 days | 83.36 | -0.42 | -0.50% |
China's clean energy boom is…
Falling oil prices and lower…
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
In 2009 the Japanese government signed a pledge to cut their carbon emissions by 25 percent by 2020, however following the disaster at Fukushima in 2011 and the subsequent collapse of public confidence in nuclear power, this target may have to be abandoned.
Nuclear power plants used to provide a large portion of Japanese electricity, and formed the backbone of their renewable energy sector and the plans to reduce carbon emissions. After the meltdown at Fukushima all 54 of the nation’s nuclear reactors were shut down in order to undergo maintenance and testing, and have yet to be restarted.
The US Energy Information Administration has now released figures which suggest that the gap left by nuclear power is being filled by larger use of fossil fuels. From January to April of this year the amount of electricity generated from natural gas, coal, and oil based power plants was up 40 percent compared to the same time last year. Fossil fuels now provide 90 percent of Japans electricity, rather than the 64 percent from last year.
Japan’s deputy Prime Minister, Katsuya Okada, said that the target of 25 percent was “a number computed on the premise that we will depend on nuclear power to a fair degree. I have no doubt that an overall review will be necessary” given the change in circumstances.
Lucky for them Japan had already decided to opt out of signing an extension of the international emission cuts target under the Kyoto Protocol. Although they haven’t given up on renewable energy and will introduce various clean energy subsidies with the aim of encouraging a 13% increase in production by 2013.
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
U.S. Crude Production Breaks Records
Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build
OPEC Said To Consider Additional 1 Million Bpd Output Cut
Second Israel-Linked Vessel Seized in the Gulf of Aden
Crude Oil Inventory Balloons but Gasoline, Diesel Inventories Fall
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com