Japan Govt to seek cut in oil dependency : Business : DAILY YOMIURI ONLINE (The Daily Yomiuri)
Govt to seek cut in oil dependency : Business : DAILY YOMIURI ONLINE (The Daily Yomiuri)
Govt to seek cut in oil dependency
The Yomiuri Shimbun
Japan will seek to cut its rate of dependence on oil as a primary energy source from the current 50 percent to 40 percent or less by 2030 in the wake of an intensifying global race to secure energy resources, sources said Thursday.
According to the sources, the Economy, Trade and Industry Ministry will shortly announce the goal as part of its new policy guidelines, the first to include numerical targets on energy resources.
With China's growing demand for energy and other factors taken into account, the guidelines are aimed at enhancing Japan's national security. The measures are expected to have a significant impact on industrial activity and people's lives, observers said.
The ministry intends to announce the main part of the guidelines, the New National Energy Strategy, in February and formalize it in June after an advisory panel to the minister examines it and makes revisions to it, ministry sources said.
The ministry will start revising the current policy guidelines in autumn, ahead of their implementation.
The new strategy proposal has six areas: energy-saving measures; reduction in the oil dependency rate; securing energy resources; promotion of nuclear energy; boosting international cooperation; and promotion of energy-related companies. For each of these policy areas, the ministry has set numerical targets for 2030.
In the area of energy saving, the nation's energy efficiency should be improved by 30 percent from the current level, according to the proposal.
While Japan's energy efficiency in terms of gross domestic product is already among the best in the world, further efficiencies are to be sought through a review of the energy standards of home appliances and other products, as well as the development of energy-saving technologies. If the numerical target is achieved, the nation's energy efficiency would be more than double the level of 1973, when the first oil crisis occurred.
To cut the oil dependency rate by more than 10 percent, new industries should be established using such energy sources as solar and wind power, according to the proposal.
Regarding automotive and other transportation-related industries, which rely on oil nearly completely, the dependency rate should be lowered to 80 percent, according to the report. The other 20 percent should consist of non-oil energy sources, including fuel cells, natural gas and ethanol.
To secure energy resources, the nation should raise the ratio of oil imported through domestic producers from the current 15 percent to 40 percent, the proposal says.
Regarding nuclear power, the proposal calls for the ratio of nuclear power generation to overall power demand to be raised from the current 30 percent to 40 percent.
Oil prices have stayed high due to such factors as economic growth in Asia and reduced production capacity of Organization of Petroleum Exporting Countries member states, with the international battle to secure energy resources becoming increasingly intense.
The proposal urges Japan to hurry to put energy sources other than oil to practical use and further promote energy-saving measures.
(Jan. 6, 2006)
Govt to seek cut in oil dependency
The Yomiuri Shimbun
Japan will seek to cut its rate of dependence on oil as a primary energy source from the current 50 percent to 40 percent or less by 2030 in the wake of an intensifying global race to secure energy resources, sources said Thursday.
According to the sources, the Economy, Trade and Industry Ministry will shortly announce the goal as part of its new policy guidelines, the first to include numerical targets on energy resources.
With China's growing demand for energy and other factors taken into account, the guidelines are aimed at enhancing Japan's national security. The measures are expected to have a significant impact on industrial activity and people's lives, observers said.
The ministry intends to announce the main part of the guidelines, the New National Energy Strategy, in February and formalize it in June after an advisory panel to the minister examines it and makes revisions to it, ministry sources said.
The ministry will start revising the current policy guidelines in autumn, ahead of their implementation.
The new strategy proposal has six areas: energy-saving measures; reduction in the oil dependency rate; securing energy resources; promotion of nuclear energy; boosting international cooperation; and promotion of energy-related companies. For each of these policy areas, the ministry has set numerical targets for 2030.
In the area of energy saving, the nation's energy efficiency should be improved by 30 percent from the current level, according to the proposal.
While Japan's energy efficiency in terms of gross domestic product is already among the best in the world, further efficiencies are to be sought through a review of the energy standards of home appliances and other products, as well as the development of energy-saving technologies. If the numerical target is achieved, the nation's energy efficiency would be more than double the level of 1973, when the first oil crisis occurred.
To cut the oil dependency rate by more than 10 percent, new industries should be established using such energy sources as solar and wind power, according to the proposal.
Regarding automotive and other transportation-related industries, which rely on oil nearly completely, the dependency rate should be lowered to 80 percent, according to the report. The other 20 percent should consist of non-oil energy sources, including fuel cells, natural gas and ethanol.
To secure energy resources, the nation should raise the ratio of oil imported through domestic producers from the current 15 percent to 40 percent, the proposal says.
Regarding nuclear power, the proposal calls for the ratio of nuclear power generation to overall power demand to be raised from the current 30 percent to 40 percent.
Oil prices have stayed high due to such factors as economic growth in Asia and reduced production capacity of Organization of Petroleum Exporting Countries member states, with the international battle to secure energy resources becoming increasingly intense.
The proposal urges Japan to hurry to put energy sources other than oil to practical use and further promote energy-saving measures.
(Jan. 6, 2006)
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