Renewable energy for the future [News]

Three years after the financial crisis sent the price of oil tumbling by more than half, renewable energy sources are again attracting great interest, with the price of Brent crude oil now well above US$100 a barrel.

Jatropha – a hardy, non-edible shrub native to the tropics that bears fruit with large, oily seeds – shows a lot of promise as an important source of renewable energy in the future, says Simon Li, CEO of Feoso Oil (Singapore) Pte Ltd, who chairs the Singapore Manufacturers’ Federation energy and chemicals industry group, which promotes the interests of Singapore-based companies involved in the oil, gas and chemicals manufacturing industries.

‘Jatropha can be a safer, cleaner and cheaper alternative to conventional fossil fuels,’ he says. ‘It’s resistant to drought and pests, and it does not compete for arable land. Also, with the first generation of biodiesel feedstock – say, sugarcane or maize – you have to harvest the entire plant. But with jatropha, you just harvest the seeds. So the trees continue to photosynthesise and produce oxygen while reducing carbon dioxide, which is very good for the environment. Read more

IEA Chief Economist offers a look at our energy future

The era of cheap oil is over, and policies fall short of what is needed for a secure and sustainable energy future, says Dr Fatih Birol, Chief Economist of the International Energy Agency, in his lecture titled “A Glimpse into the Energy Fututre” at today’s EMA Distinguished Speaker Programme. This lecture is jointly organised by the Energy Market Authority and the Energy Studies Institute.

Era of cheap oil is over

Dr Birol shares that the era of cheap oil is over because of structural changes, and there is growing risk that the upturn in oil prices could undermine economic recovery.

On the demand side, strong growth from the transportation sector due to booming demand for mobility in emerging economies drives up oil use. The global car fleet continue to surge as more people in China and other emerging economies buy a car. Read more

PM Lee says Singapore must study nuclear option [News]

Prime Minister Lee Hsien Loong again stressed that Singapore has not made a decision on nuclear power but it is an option that must be studied.

He said this at a news conference on Wednesday with German Chancellor Angela Merkel, who is in Singapore for a two-day visit.

Germany had on Monday announced it would shut down its nuclear reactors by 2022.

It is Dr Merkel’s first visit to Singapore as German Chancellor.

Mr Lee also noted that she is his first foreign visitor after he was re-elected to Parliament, just as he was her first foreign guest when Dr Merkel became Chancellor in 2005.

Both leaders made clear that Singapore-German relationship is an important one for the two countries. Read more

Preliminary nuclear study will go ahead [News]

No stone will be left unturned and critical issues will be studied assiduously before the Government makes any decision on nuclear energy for Singapore.

Senior Minister of State for Trade and Industry S. Iswaran yesterday took pains to assure Singaporeans after MPs, such as Mr Low Thia Khiang (Hougang) and Mr Michael Palmer (Pasir Ris-Punggol GRC), asked about the Government’s pre-feasibility study on nuclear energy and wanted to know if it would be shelved in the light of the nuclear plant crisis in Japan.

He said the study – a preliminary step to better understand nuclear energy – will go on and, even on its completion, Singapore will be a long way from making any decision on nuclear energy. Read more

Nuclear energy option for Singapore still far away: MTI [News]

Any decision on whether or not to have nuclear energy in Singapore is a long way away, the Ministry of Trade and Industry (MTI) reiterated yesterday.

Responding to requests from The Straits Times for an update on the nuclear option, MTI said that Singapore is in the midst of a ‘pre-feasibility study on nuclear energy’.

It said safety is a very important consideration, and is one of the key areas being studied.

‘It will be a long time before we make any decision on nuclear energy. We are closely monitoring and learning from the developments in Japan,’ it added in a statement. Read more

Singapore Preparing For a Smart Energy Economy

Prime Minister Lee Hsien Loong delivered the annual Singapore Energy Lecture this morning at the 3rd Singapore International Energy Week (SIEW). PM Lee spoke about how Singapore is preparing for the new energy future amid uncertainties in future energy prices, a global regime on climate change, and new technologies. Singapore’s challenge is to have energy that is cost-competitive, secure, clean and sustainable. PM Lee outlined four key strategies towards a smart energy economy:

1. Promote Competitive Markets

To promote competitive markets, Singapore will price energy properly and avoid subsidies for households and businesses, and foster competition in the production and supply of energy so as to increase efficiency. PM Lee also said that Singapore should work through the market to cut carbon emissions as pushing for efficiency is limited due to the rebound effect. Therefore, there is a need to impose a charge on consumers to induce them to change their behaviour, and the best approach is to apply a carbon price, whether through a carbon tax or cap and trade scheme. Read more

Should Southeast Asia Go Nuclear?

Venue: Mannaseh Meyer Building, Seminar Room 3-1, Lee Kuan Yew School of Public Policy, 469C Bukit Timah Road, Singapore 259772

This open public forum discusses the energy requirements of Southeast Asian countries, and explores the option of adopting nuclear energy, including technologies, implementation, regulation, and safety issues. Details and registration at the LKYSPP website.