Oil Price Daily News Update
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- New Power Source Discovered for Nanotechnology
- Approval Granted for First U.S. Nuclear Power Plant Since 1978
- Why Large Banks Shouldn’t be Broken Up
- French Nuclear Anxieties Soar After Fukushima
- Taking the High Road to Utica Shale
- Wind Industry Starts to Panic as Tax Credits Come to an End
- Turkey Gets More EU Roadblocks Towards Accession, Now Energy Chapters
- Gazprom’s Future Dependent on Arctic Energy Riches?
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New Power Source Discovered for Nanotechnology Posted: 14 Feb 2012 08:39 AM PST On a recent sabbatical, Associate Professor Dr. Kourosh Kalantar-zadeh, from the School of Electrical and Computer Engineering at RMIT University in Melbourne, travelled to Cambridge in order to work with MIT Associate Professor Michael Strano’s nanotechnology research team. Whilst measuring the acceleration of a chemical reaction along a carbon nanotube, they made a remarkable discovery. The reaction they were monitoring actually generated power. Dr. Kalantar-zadeh, “By coating a nanotube in nitrocellulose fuel and igniting one end, we set…
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Approval Granted for First U.S. Nuclear Power Plant Since 1978 Posted: 14 Feb 2012 08:38 AM PST On Thursday the Nuclear Regulatory Commission approved the first nuclear power plant in the US since the Three Mile Island accident in Pennsylvania back in 1979. The Southern Co. based in Atlanta already operates two reactors at its Vogtle site near Augusta, and has just been granted permission to build another two reactors. The Southern Co. President and CEO Thomas Fanning said that the approval was “a monumental accomplishment”, not only the company, but also the nuclear industry as a whole. “We are committed to bringing these units online to…
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Why Large Banks Shouldn’t be Broken Up Posted: 14 Feb 2012 07:35 AM PST The logic of cutting down huge institutions could mean splitting the largest ones into several pieces. Yet banks do not always come in easily divisible parts. Such a move could amount to eradicating the largest banks rather than splitting them up — and eradication is both politically unlikely and potentially disastrous for the economy. In short, if the resulting parts of a divided bank cannot turn a profit, the split-up may prompt the very bailout it was trying to avoid. Another fear is that American money market operations would move to…
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French Nuclear Anxieties Soar After Fukushima Posted: 13 Feb 2012 04:01 PM PST France began developing a massive nuclear energy program with minimal public debate after the first oil crisis in 1974 and continued to support nuclear power even after the 1986 Soviet Chernobyl disaster. French nuclear energy giant Areva SA, majority owned by the French state, operates the country’s 59 nuclear reactors, which generate 78.8 percent of France’s electricity, the highest percentage in the world. Until Fukushima the French public felt largely secure in the safety of their country’s nuclear facilities. No…
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Taking the High Road to Utica Shale Posted: 13 Feb 2012 03:59 PM PST Ohio’s governor, during his recent State of the State address, said major energy companies working in the state have certain responsibilities to Ohio. The Midwest state hosts vast natural gas reserves in its Utica shale deposit and energy company’s like Houston-based Chesapeake are eager to get at those resources. The governor said all the proverbial ducks needs to be in a row in order to tap into those shale reserves but, in a rare display of U.S. political pragmatism, stressed that fear shouldn’t get in the way of energy potential. Ohio…
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Wind Industry Starts to Panic as Tax Credits Come to an End Posted: 13 Feb 2012 03:56 PM PST If you haven’t heard from the American Wind Energy Association (AWEA), you probably will. Ominous, scary ads are running nationwide warning of the crushing blow to American jobs if Congress fails to extend the Production Tax Credit (‘PTC’), the 20-year ‘temporary’ subsidy most credited for market growth in the wind sector. The PTC is due to expire at the end of this year. Most of the ads target particular House members who, so far, have resisted the industry’s demands for their PTC earmark. The pressure is particularly…
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Turkey Gets More EU Roadblocks Towards Accession, Now Energy Chapters Posted: 13 Feb 2012 03:49 PM PST Turkey’s seemingly interminable effort to join the European Union has hit a new snag. Energy. On 9 February European Union Commissioner for Enlargement and European Neighborhood Policy Stefan Fule and the EU’s Commissioner for Energy Gunther Oettinger met with Turkish Minister for EU Affairs and Chief Negotiator Egemen Bag?s and Turkish Energy Minister Taner Yildiz in the ancient Ottoman imperial capital Istanbul to discuss intensified EU-Turkish cooperation in the energy sector. The upside? Oettinger told reporters after his meetings,…
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Gazprom’s Future Dependent on Arctic Energy Riches? Posted: 13 Feb 2012 03:47 PM PST The continued existence of Russia as a transcontinental power depends on its ability to leverage vast energy wealth into political stability and power. Without energy wealth, Russia begins to disintegrate. A giant new gas field north of the Arctic Circle provides some hope for Russia’s future. Gazprom’s mammoth tax payments bolster the Russian economy, allowing the Kremlin to dole out subsidies and keep a lid on popular discontent. At the same time, Gazprom faces challenges that threaten not just its dominance of the world’s natural…
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