The Japan Times - Mideast war lights fire under energy transition plans

EUR -
AED 4.196324
AFN 73.117812
ALL 94.196413
AMD 420.495074
ANG 2.045469
AOA 1048.202431
ARS 1692.405459
AUD 1.658821
AWG 2.056434
AZN 1.945511
BAM 1.959244
BBD 2.301045
BDT 140.807509
BGN 1.931769
BHD 0.430743
BIF 3404.540347
BMD 1.142463
BND 1.477785
BOB 7.911734
BRL 5.928473
BSD 1.142508
BTN 107.951393
BWP 15.525952
BYN 3.313295
BYR 22392.278791
BZD 2.297719
CAD 1.623383
CDF 2599.10328
CHF 0.922762
CLF 0.026771
CLP 1053.648097
CNY 7.761838
CNH 7.768504
COP 3936.665433
CRC 518.206359
CUC 1.142463
CUP 30.275275
CVE 110.676093
CZK 24.256205
DJF 203.038993
DKK 7.474911
DOP 68.310893
DZD 152.059524
EGP 56.196682
ERN 17.136948
ETB 181.594277
FJD 2.567401
FKP 0.865824
GBP 0.86196
GEL 3.016205
GGP 0.865824
GHS 12.938339
GIP 0.865824
GMD 84.025154
GNF 10025.11436
GTQ 8.716245
GYD 238.974837
HKD 8.958568
HNL 30.52654
HRK 7.535117
HTG 149.321167
HUF 353.758587
IDR 20390.683258
ILS 3.413166
IMP 0.865824
INR 108.345502
IQD 1497.198028
IRR 1572029.367811
ISK 144.007811
JEP 0.865824
JMD 179.896219
JOD 0.809985
JPY 185.019663
KES 147.94454
KGS 99.90825
KHR 4581.277771
KMF 493.543996
KPW 1028.217283
KRW 1760.295931
KWD 0.353672
KYD 0.952053
KZT 554.70291
LAK 25511.203317
LBP 102307.579764
LKR 384.151894
LRD 208.281864
LSL 18.759347
LTL 3.373397
LVL 0.691065
LYD 7.323954
MAD 10.722048
MDL 20.193053
MGA 4846.905497
MKD 61.643536
MMK 2398.772464
MNT 4089.935383
MOP 9.229021
MRU 45.870413
MUR 53.981472
MVR 17.662036
MWK 1984.457943
MXN 19.962147
MYR 4.651085
MZN 72.946072
NAD 18.758928
NGN 1579.181328
NIO 41.837276
NOK 11.322942
NPR 172.7241
NZD 2.021041
OMR 0.439274
PAB 1.142483
PEN 3.899226
PGK 5.015817
PHP 69.858246
PKR 317.661762
PLN 4.289304
PYG 6957.229307
QAR 4.164853
RON 5.242427
RSD 117.399692
RUB 87.969977
RWF 1673.708593
SAR 4.290295
SBD 9.19906
SCR 16.708513
SDG 686.053276
SEK 11.101486
SGD 1.477321
SHP 0.852964
SLE 28.335922
SLL 23956.886335
SOS 652.917592
SRD 42.836086
STD 23646.681691
STN 24.962821
SVC 9.996528
SYP 126.278854
SZL 18.852507
THB 37.998785
TJS 10.590484
TMT 4.010046
TND 3.365982
TOP 2.750778
TRY 53.260953
TTD 7.766584
TWD 36.415783
TZS 2998.969301
UAH 51.274329
UGX 4187.360476
USD 1.142463
UYU 45.970807
UZS 13769.203286
VES 710.890326
VND 30035.357623
VUV 136.157944
WST 3.177056
XAF 657.106299
XAG 0.019598
XAU 0.000284
XCD 3.087564
XCG 2.059001
XDR 0.818428
XOF 655.208831
XPF 119.331742
YER 272.594812
ZAR 18.793745
ZMK 10283.545779
ZMW 20.683905
ZWL 367.872685
  • CMSC

    0.1300

    22.06

    +0.59%

  • CMSD

    0.1300

    21.9

    +0.59%

  • JRI

    0.0700

    12.86

    +0.54%

  • RBGPF

    0.2000

    61.5

    +0.33%

  • RIO

    0.5500

    94.29

    +0.58%

  • BCE

    -0.6600

    22.26

    -2.96%

  • BTI

    -0.0200

    62.74

    -0.03%

  • GSK

    0.3100

    52.81

    +0.59%

  • RYCEF

    0.0000

    18.75

    0%

  • BCC

    -1.7600

    79.26

    -2.22%

  • BP

    0.2200

    37.35

    +0.59%

  • NGG

    0.7500

    83.76

    +0.9%

  • AZN

    2.5400

    190.95

    +1.33%

  • VOD

    -0.2000

    13.69

    -1.46%

  • RELX

    -0.0500

    31.29

    -0.16%

Mideast war lights fire under energy transition plans
Mideast war lights fire under energy transition plans / Photo: - - CN-STR/AFP

Mideast war lights fire under energy transition plans

Painful surges in oil prices are spurring countries to quickly rethink how to reduce dependence on fossil fuels, as shortage risks from war in the Middle East grow greater by the day.

Text size:

Britain's government on Tuesday was the latest to unveil its plans, vowing to "massively expand renewables" as a way of bolstering energy security while denting the impact of higher electricity and petrol costs.

Around 60 governments worldwide have announced strategic responses or reviews since US and Israeli forces began striking Iran on February 28, according to Carbon Brief, a specialised news site.

Using data from the International Energy Agency, Carbon Brief found many countries promising short-term relief such as cuts on fuel taxes or warning of rationing of fossil fuels.

But others have responded with plans to accelerate their green energy transitions toward low-carbon sources.

- France -

France announced on April 10 a range of measures to speed up the electrification of construction, transport and other industries, to reduce the share of fossil fuels in the country's energy mix to just 29 percent by 2035 from 60 percent today.

Electric vehicles should make up two out of every three new car sales by 2030, Prime Minister Sebastien Lecornu said.

The government is also providing aid to spur the installation of one million heat pumps a year, reducing reliance on imported natural gas.

- EU -

EU Commission President Ursula von der Leyen has promised to propel the continent's electrification with announces planned for April 22.

- Sweden -

Sweden's environment minister announced on April 7 that "electrification is the future" to protect citizens from surging oil and natural gas prices.

The two key measures were increased aid for using renewable energies by government employees and household subsidies for EV purchases.

- China -

President Xi Jingping promised this month that "A greener, more diversified and resilient new energy system will provide a strong guarantee for China's energy security and economic development," state-controlled CCTV said.

- Philippines

Energy Secretary Sharon Garin said in late March that "amid the Middle East conflict, accelerating the development of renewable energy and storage is both a strategic necessity and a national imperative".

The archipelago nation relies on coal for about 60 percent of its electricity generation, and President Ferdinand Marcos has declared a "national energy emergency" due to risks to the domestic fuel supply.

- Japan -

Even as it authorised more burning of coal for power plants in response to soaring oil prices, Japan's government reiterated plans to "maximise the use of both renewable energy and nuclear power" to ensure its economic growth.

It announced on March 20 a $40 billion project with Washington to build next-generation small nuclear power plants in Tennessee and Alabama, which could expand Japan's own network of nuclear plants.

- India -

After cutting fuel taxes in late March to soften the blow at petrol stations, the Indian government said it would speed up permit grants for wind turbine and battery electricity storage projects.

- Cambodia -

Cambodia, which imports all its consumer fuel, announced in late March it was cutting import tariffs from 35 percent to zero on electric vehicles, electric kitchen stoves, and solar energy.

It also cut tariffs on rechargeable hybrid vehicles to just seven percent from 35 percent.

- Barbados -

The Caribbean island's government unveiled in early March a $81 million plan to shift away from fossil fuels with heavy investments in renewable sources, in particular wind farms.

The goal is also to reinforce energy stockage capacities.

- Kenya -

President William Ruto announced in late March a plan to triple electricity production in the next five to seven years, with nuclear energy accounting for just under a third of the country's needs.

"We have made a deliberate and strategic decision to significantly expand our energy capacity," Ruto said.

T.Sasaki--JT