The China Mail - Mideast war lights fire under energy transition plans

USD -
AED 3.672504
AFN 63.000105
ALL 81.708441
AMD 368.691786
ANG 1.790403
AOA 917.500883
ARS 1429.508702
AUD 1.415508
AWG 1.8025
AZN 1.696166
BAM 1.685177
BBD 2.015096
BDT 122.817901
BGN 1.69088
BHD 0.377305
BIF 2994.054799
BMD 1
BND 1.281762
BOB 6.938712
BRL 5.059302
BSD 1.000526
BTN 94.560525
BWP 13.406112
BYN 2.76997
BYR 19600
BZD 2.012252
CAD 1.40145
CDF 2320.999695
CHF 0.79551
CLF 0.022636
CLP 891.019667
CNY 6.76055
CNH 6.757905
COP 3491.5
CRC 455.716489
CUC 1
CUP 26.5
CVE 95.00853
CZK 20.82745
DJF 178.168001
DKK 6.446935
DOP 58.694285
DZD 132.878995
EGP 50.179896
ERN 15
ETB 161.303992
EUR 0.862498
FJD 2.21395
FKP 0.744874
GBP 0.745775
GEL 2.645026
GGP 0.744874
GHS 11.255482
GIP 0.744874
GMD 72.514434
GNF 8763.721587
GTQ 7.626359
GYD 209.290102
HKD 7.833435
HNL 26.754265
HRK 6.495301
HTG 130.666299
HUF 301.458501
IDR 17723
ILS 2.91185
IMP 0.744874
INR 94.5141
IQD 1310.701361
IRR 1375752.498518
ISK 124.550101
JEP 0.744874
JMD 158.238482
JOD 0.709044
JPY 160.370496
KES 129.420474
KGS 87.450279
KHR 4017.784058
KMF 424.999929
KPW 900.00035
KRW 1508.509782
KWD 0.30835
KYD 0.8338
KZT 487.920041
LAK 22016.388216
LBP 89596.067517
LKR 335.185855
LRD 182.097037
LSL 16.148994
LTL 2.95274
LVL 0.60489
LYD 6.374399
MAD 9.250461
MDL 17.459223
MGA 4157.368235
MKD 53.150489
MMK 2099.401411
MNT 3576.563972
MOP 8.072446
MRU 39.93262
MUR 47.240234
MVR 15.449995
MWK 1734.893459
MXN 17.202655
MYR 4.068105
MZN 63.910263
NAD 16.148855
NGN 1358.20232
NIO 36.817798
NOK 9.527085
NPR 151.295881
NZD 1.71681
OMR 0.384503
PAB 1.000526
PEN 3.408382
PGK 4.383153
PHP 60.309034
PKR 278.370642
PLN 3.65949
PYG 6105.515298
QAR 3.657654
RON 4.512297
RSD 101.210472
RUB 72.178713
RWF 1483.728104
SAR 3.752094
SBD 8.065041
SCR 13.834905
SDG 600.501759
SEK 9.39849
SGD 1.28225
SHP 0.746601
SLE 24.750378
SLL 20969.503664
SOS 571.773221
SRD 37.518027
STD 20697.981008
STN 21.109953
SVC 8.754244
SYP 110.532098
SZL 16.145959
THB 32.509815
TJS 9.274765
TMT 3.5
TND 2.928683
TOP 2.40776
TRY 46.299296
TTD 6.796543
TWD 31.512396
TZS 2620.003012
UAH 44.808889
UGX 3701.565583
UYU 40.393596
UZS 12016.40559
VES 591.77565
VND 26300
VUV 118.866954
WST 2.741216
XAF 565.192704
XAG 0.01415
XAU 0.00023
XCD 2.70255
XCG 1.803205
XDR 0.703697
XOF 565.197574
XPF 102.758965
YER 238.601218
ZAR 16.18979
ZMK 9001.202842
ZMW 17.684109
ZWL 321.999592
  • CMSC

    0.0100

    22.34

    +0.04%

  • RBGPF

    2.1500

    62.87

    +3.42%

  • GSK

    -0.8100

    52.23

    -1.55%

  • VOD

    -0.5300

    15

    -3.53%

  • NGG

    -0.2700

    81.57

    -0.33%

  • RIO

    0.5400

    105.89

    +0.51%

  • BCE

    -0.2369

    24.04

    -0.99%

  • CMSD

    0.0600

    22.32

    +0.27%

  • RYCEF

    1.0700

    18.11

    +5.91%

  • BTI

    -1.2600

    61.06

    -2.06%

  • BP

    -1.1900

    41.59

    -2.86%

  • BCC

    0.4500

    71.59

    +0.63%

  • AZN

    -1.4800

    177.27

    -0.83%

  • RELX

    -0.9000

    32.84

    -2.74%

  • JRI

    0.1135

    12.78

    +0.89%

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.

G.Tsang--ThChM