Oil Rich Middle Eastern Nations like Kuwait,UAE and Saudi Arabia have been planning to build nuclear energy plants for quite some time now. They have been extensively engaged in discussions with Asian consortia to supply technology and expertise for building nuclear power plants in their countries. The reason for their nuclear love is that these nations are seeing rapid growth in energy demand. The reason is their fast growing population which is increasing their consumption of oil and gas produced. This is reducing the export dollars from the supply of fossil fuels. The countries want to increase renewable and nuclear power so that they can conserve their depleting supplies of oil for exports. However the Fukushima incident has given some of them cold feet. While countries like Vietnam and China are pressing ahead with their nuclear expansion plans, Japan,Germany,Switzerland have decided to give up nuclear power. Widespread nuclear protests in Germany made the government take the drastic action of stopping a number of nuclear reactors. Kuwait Develops Cold Feet on Nuclear Energy,will UAE and Saudie\s capitulate as well

Organization of the Petroleum Exporting Countries (OPEC) on its 50th Anniversary has called the Developed Nations Subsidies as “Unfair” and has referred Alternative Energy as the biggest challenge facing the Rich Oil Exporting Nation Cartel.OPEC is being a huge hypocrite as Fossil Fuels Subsides totalled $550 Billion last year which is almost 12x the Subsidies given to Green Energy.However no mention of this fact was said as these Green Subsidies were “not acceptable” OPEC.The OPEC Chief Abdalla el-Badri wanted a level playing field with this nascent Green Energy.OPEC is a 12 Nation Club formed mostly of Middle Eastern Nations who control 80% of the Global Oil Reserves and 33% of the Production.Saudi Arabia is the non-official leader of this Cartel and has been known for its opposition to Climate Change efforts.The other nations too support Saudi Arabia recently blocking a group of Poor Island Nations from accessing climate change data.These Nations have shockingly asked for Aid as Global Warming Concerns reduce the Fossil Fuel Demand.Most of the Middle East Exporters are filthy rich generating huge amounts of cash from the Export of Fossil Fuels.

The last week’s sharp decline in commodities and stock markets has a lot of people making half baked statements while others are panicking . We had India’s chief economic adviser thinking that Greece contagion might have had a positive effect on India ,now¬† Kuwait’s oil minister is already thinking of supporting oil prices. It is […]