Energy Blast – March 14, 2011

The Japanese Prime Minister has ordered energy rationing for three hours a day and called a nuclear emergency following explosions at nuclear reactors in the wake of Japan’s earthquake and tsunami.  The events in Japan are impacting on the nuclear policies of other countries including Germany and Canada as the world re-evaluates the question of nuclear safety.  Russia is concerned that radiation from Japan’s Fukushima power plant could spread to its Far East regions, although radiation levels there currently ‘remain normal‘.  Negotiations at TNK-BP have apparently descended into a ‘mud-slinging match‘, after its BP board members voted against TNK-BP’s proposal to swap shares with Rosneft over concerns that it would ‘inevitably lead to conflicts of interests‘.  President Dmitry Medvedev says that rising energy prices are a top concern for Russia and ‘a real threat to economic growth‘.  Libyan leader Muammar Gaddafi is urging Russia to invest in his country’s oil sector to ease tensions over heavily disrupted exports.