Russia, China Secretly Support North Korea

 

Fuel shipments into the rogue nation show that Moscow and Beijing are still keeping the Kim regime afloat.

The prices of fuel inside North Korea have plunged over the last month or so, thanks to an influx coming into the country from Russia via China. Continue reading

Britain Looks to Ban All Petrol and Diesel Vehicles

Shoppers walk past stores on New Bond Street in London, Britain July 9, 2016.

 

Britain aims to ban petrol and diesel cars in the country from 2040 as a sign of their commitment to reduce the rising level of nitrogen oxide in the world for a safer humanity.

The pledge is in line with Emmanuel Macron’s efforts in France as they also are working towards a much-anticipated clean air plan.

Government officials in Britain believe that the largest environmental risk to public health in the UK is poor air quality, costing 2.7 billion pounds in lost productivity in recent years. Continue reading

Europe Moves to Ban Internal Combustion

The Independent reports that France will ban gasoline-powered vehicles by 2040. The Independent is foolish enough to think that this is good news:

France plans to ban all petrol and diesel vehicles by 2040, the country’s new environment minister has announced.

Nicolas Hulot made the announcement as he unveiled a series of measures as part of newly elected President Emmanuel Macron’s plan to make the country carbon neutral by 2050. Continue reading

Europe starts stockpiling oil as Iran conflict looms

European governments are rushing to boost stockpiles of crude oil and fuel, anxious to comply with new EU rules and amid reports that Israel is preparing to launch an attack on Iran.

Belgium and the Netherlands have issued tenders to import a total of around 250,000 tonnes of diesel and gasoline for delivery in September and October, their agencies said.

France has also bought diesel and awarded a crude oil tender this week while Belgium is increasing its crude stocks.

“This is yet another unexpected source of support for oil demand… [It] shows how the geopolitical concerns about Iran and Syria are bullish for oil even in the absence of an actual supply disruption,” said Seth Kleinman, head of energy research at Citi.

Iran tensions

European governments appear to be preparing for further supply disruptions in the Middle East as tensions have mounted between Israel and Iran over Tehran’s nuclear programme.

Israeli media have reported that Prime Minister Benjamin Netanyahu has decided to launch an attack on Iran’s nuclear facilities in the Fall.

Iranian President Mahmoud Ahmadinejad reacted on Friday, calling Israel a “cancerous tumour” with no place in a future Middle East, drawing an unusually strongly-worded condemnation by EU foreign policy chief Catherine Ashton.

Ashton is acting as chief negotiator for six powers – the United States, Russia, China, France, Germany and Britain – that are trying to persuade Iran to scale back its nuclear programme through economic sanctions and diplomacy. They fear Iran’s nuclear programme aims at producing weapons, though Tehran says it serves peaceful purposes only.

EU oil stock directive

An EU directive passed in 2009 and designed to mitigate the impact of a supply crisis requires EU members to hold reserves equal to 90 days of average daily net imports or 61 days of average daily consumption ahead of a December 31 deadline.

One third of the stocks must be held in products, according to the EU directive.

“We are in the process of building stocks to meet our strategic obligations under the new EU rules,” said Alain Demot, general manager of Belgium’s Apetra, adding that more tenders would be issued in coming months.

NEXT STEPS:
  • 31 Dec. 2012: Deadline for member states to communicate measures taken under the EU’s oil stock directive. Under the directive, oil stocks must correspond “at the very least, to 90 days of average daily net imports or 61 days of average daily inland consumption, whichever of the two quantities is greater.”

Full article: Europe starts stockpiling oil as Iran conflict looms (EurActiv)