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Energy Blast – June 4, 2010

According to Ria-Novosti, a Russian Foreign Ministry spokesman has stated that Iran has not ceased its uranium enrichment program.  Italian oil firm ENI is planning on major investments in energy-rich Turkmenistan.  Kazakhstan’s national oil and gas company, Kazmunaygaz, will invest $20 billion into infrastructure by 2015.  Deputy Prime Minister Igor Sechin has stated that the Russian government advocates applying a universal approach to tax breaks for Russian subsoil companies developing fields in the Caspian Sea.  Nenets Autonomous District Governor Igor Fyodorov has argued that controls over Arctic oil exploration should be enhanced; his region would be one of the worst affected by any spill.  Barack Obama is using the BP oil spill as an opportunity to rescind billions of dollars in Bush-era tax breaks from major energy companies, the Telegraph suggests.  Apparently the company has made a breakthrough in its attempts to stem the flow of oil gushing into the Gulf of Mexico.  ‘Avatar’ director James Cameron reportedly suggested using Mirs, the Russian deep-sea manned vehicles the director employed in the making of ‘Titanic’ to combat the spill; his proposal was rejected by BP management.