The massive power plant under construction on muddy terrain on this Finnish island was supposed to be the showpiece of a nuclear renaissance. The most powerful reactor ever built, its modular design was supposed to make it faster and cheaper to build. And it was supposed to be safer, too.
But things have not gone as planned.
After four years of construction and thousands of defects and deficiencies, the reactor’s 3 billion euro price tag, about $4.2 billion, has climbed at least 50 percent. And while the reactor was originally meant to be completed this summer, Areva, the French company building it, and the utility that ordered it, are no longer willing to make certain predictions on when it will go online.
Analysis: Sudan courts U.S. with oil
- Sudan has offered the United States the opportunity to explore for oil in Darfur, parts of which reportedly have been recently cleared for Chinese exploration by way of government troops and aerial assaults on rebel-held areas. Sudanese President Omar Hassan al-Bashir told al-Arabiya TV earlier this week that the United States was welcome to explore for Darfur's mineral wealth, which ... more
China hails three-billion-dollar oil deal with Iraq Beijing (AFP) Aug 28, 2008 - China hailed Thursday a three-billion-dollar oil agreement with Iraq as a win for both nations, as it sought to reassure the rest of the world that it should not be concerned by the deal. Becoming the first foreign firm to enter such an agreement since the end of Saddam Hussein's regime, state-owned China National Petroleum Corp. (CNPC) this week won the right to develop the Al-Ahdab oil ... more
Sunrise Solar Dispels Solar Myths
San Antonio TX (SPX) Aug 28, 2008 - Sunrise Solar addresses the "solar myths" that often arise in shareholder questions relating to the role of solar power in America's future energy plans. Myth 1: Solar electricity cannot provide a significant part of America's electricity needs. Fact: The solar energy resource in a 100 square mile area of Nevada could supply ALL of the electricity needs of the United
Mitsubishi Electric Announces Shipment Of PV Modules For Non-Electrified Areas
Tokyo, Japan (SPX) Aug 28, 2008 - Mitsubishi Electric has announced the shipment of four small-size photovoltaic (PV) modules for the overseas market, suitable for use in stand-alone solar power generation systems in areas of the world where the local electrification infrastructure is insufficient or non-existent. The PV systems market has been rapidly expanding globally due to increasing concerns a ... more
South Korea to build 10 more nuclear plants by 2030
Seoul (AFP) Aug 27, 2008 - South Korea said Wednesday it will build 10 more nuclear power plants by 2030 and increase its renewable energy resources as part of a 100-billion-dollar plan to reduce its dependence on fossil fuels. South Korea, a highly industrialised nation with few natural energy sources, already uses nuclear plants to generate nearly a third of its power needs but hopes to increase that to nearly 60 ... more
this is the first of a number of new things that will arrive here. It is all about the energy. If you haven't any, forget anything about computers, they ain't going to work. You should have an energy policy if you have computers, if you don't you are going to hit a wall and be spending more money on energy than on computing.
Don't be fooled and it won't be better but as oil and other basic products and materials are becoming scarce, countries and blocks will begin thinking and acting solely in their own interest of survival. Those who have or can deliver the oil and the basic materials and those who want it and between them there will be a permanent game of cooperation and confrontation.
The war iin Georgia (Europe) in Ossetië is about stabilisation (Georgia) and destabilisation (Russia). Russia doesn't want a stable and strong Georgia at its borders because it knows that once the the pipelines are built and Georgia gets its part of transmission fees, it will be rich and powerful enough to do whatever it wants and Georgia en Russia now all too well that to find the investment and environment to begin such projects you should have stability. That will come with negotiations that will come one day but the question is only what will the relation be between the negotiators ? The one of protected semi-independent subregion (Ossetië as it is now) or the conquered ex rebels that just want some form of local autonomy about things that don't matter at all ? And what happens in Ossetië, which is the most fable of the two semi-independent regions (the other being Abkhazië will have an immediate impact on how the relations between that semi-independent region and Georgia will be. The small region against the forceful and in a winning mood Georgian president or the protected region against a badly failed attacker ? It looks like the endgame has set in - although it may take some time before the game is over (and many deaths in between).
For us Europeans it is all too important who wins because if Georgia doesn't succeed than it will be more difficult to built the pipelines that will make us more independent from OPEC and Russian Gas. But what do I say. We have in Europe no real thinking about Energy security that name worth. If you look at what is happening with the dependency on Russian gas and Arab oil, on the absence of any emergency planning to make more of our own electricity than you can only think that these leaders are wasting an enormous opportunity because the strong Euro protects us against the speculative Oil price. Once the dollar starts climbing again from its absurd low levels than the Europeans will feel that 'OIL SHOCK' twice as hard. I don't understand why they think that this situation can stay on enduring for years and don't take measures that equals the problems ahead of us.
Oh and the war in Iraq is about Oil (and winning it so it can pump new oil also) and the war in Afghanistan is also important because of pipelines and the war in Somalië because of securing the tankers that deliver the oil and don't be surprised but everything will be in the very near future about oil, food and basic materials. All the rest will be B.... (I don't like war personally, I hate it, but I also have to take the things in consideration that are happening around me and show the bigger picture)
The cold war will become the war not to have cold :)
and this why you must begin thinking about the energypolicy of your own environment - as a matter of security and continuity. The smart international investor goes where the stuff is and doesn't think that the stuff will always be delivered to where he is, wherever that may be.
this opinion is also being shared by other analysts see
ps for the US election watchers, this increases the chances of McCain of being elected. If people understand that the consequences of a totally Russian controlled energy market and pipelineroutes because the young democracies were crushed and blackmailed - and see the consequences daily in their pockets - they will chose a president that will do something about it and not just talk about it