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Latest News on Energy and Climate Change
Eight new nuclear power stations planned for England
UK Telegraph--July 13, 2008
Ministers are to build eight new nuclear power stations across England, the Daily Telegraph can disclose. The new nuclear plants will mainly be based alongside existing facilities and are expected to be constructed over the next decade. New planning laws will be used to fast-track approval for the nuclear plants which Gordon Brown believes are crucial in reducing Britain's dependency on fossil fuels.
Petrobras Oil Workers Strike; Production May Drop
Bloomberg--July 14, 2008
Brazil's Oil Workers Confederation began a five-day strike this morning against state-controlled Petroleo Brasileiro SA, an action that may cut the country's crude production by more than half.
Chinese oil giants stay quiet on reported oil subsidy extension
Platts--July 16, 2008
Sinopec Corp. and PetroChina stayed mum Wednesday on any new development on the oil subsidies they could receive from the Chinese central government for the July- September period after China's official news agency published a report Tuesday evening saying the subsidies would be rolled over from the second quarter of this year.
The Florida Public Service Commission took a first step Tuesday in approving three Florida Power & Light Co. solar energy projects expected to cost more than $688 million.
It's the first proposal the commission has considered under a sweeping state energy law passed this year that allows utilities to pass all reasonable costs of renewable-energy projects to customers.
Oil Retreats, For Now
Forbes--July 15, 2008
Investors were too worried about the state of the U.S. economy to celebrate the $6 retreat in the price of oil Tuesday. Light, sweet crude for August delivery dropped $6.44 to settle at $138.74 a barrel on the New York Mercantile Exchange as traders bet that the weak economy in the United States and elsewhere will curb global demand for black gold. Crude hit a session low of $135.92 in the biggest one-day drop since Jan. 17, 1991, after the United States began bombing Iraq in the first Gulf War.
Big Chinese Power Firms Suffer Profits Outage
Forbes--July 16, 2008
Squeezed between soaring coal costs and government controls on electricity rate charges, two of China's top power producers said Tuesday that they expect to post half-year losses. But scheduled rate hikes for the second half may prevent or stem yearly losses for the firms, analysts say. Huaneng Power International and Huadian Power International significantly bolstered electricity output, by 13% and 65%, respectively, in the first half of 2008, compared to the equivalent period last year.
Libya to Cut Oil Production Because of Pipeline Work
Bloomberg--July 15, 2008
Libya, North Africa's largest oil producer, will cut output by 5.7 percent because of pipeline maintenance, trimming supplies at a time of near-record prices.
The repairs will shut down 100,000 barrels a day of production this week, Shokri Ghanem, the country's top oil official, said in telephone interview today. Libya has already idled Total SA's 75,000 barrel-a-day al-Jurf field after a drilling accident in May.
Bridging the Gap on Climate Change
The Washington Post--July 14, 2008
Despite the scientific consensus that climate change is occurring, there remain sharp political disagreements both here in the United States and around the world about how policymakers should respond. Nowhere is this gap more profound than between developed and developing countries.
Russia says Czech oil supply cut "not political"
Reuters--July 14, 2008
Russia said on Monday it cut oil supplies to the Czech Republic last week for technical reasons, and denied it was linked to Prague's role in a U.S. missile defense shield.
Iran confirms Total's withdrawal from gas project
Agence France-Press--July 12, 2008
Iran's oil minister confirmed on Saturday that French energy giant Total has dropped out of a multi-billion-dollar gas investment in the Islamic republic, the state broadcaster reported.
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