The UAE raised quite a few eyebrows last December when it announced a $40 billion contract for setting up four nuclear power stations in its territory. But what surprised analysts even more than the size of the contract was who won it: a South Korean consortium led by Korea Electric Power Company (KEPCO), with Toshiba Westinghouse as a minor partner. KEPCO managed to beat out heavyweight rivals, including a consortium led by French major Areva and the U.S.-Japanese alliance of GE-Hitachi, to walk away with the deal. Pundits have talked quite a bit of late about the shift from West [...]
Biofuels were hailed in the first half of the last decade as a green solution to reliance on imported petroleum, and a savior to farmers seeking higher prices for commodities in surplus. But in the second half of the decade, biofuels emerged as real and imminent threats to both environmental quality and food security, while being a costly and ill-conceived response to energy concerns. Agriculture and energy ministers met at a high-level conference at the Food and Agriculture Organization (FAO) in Rome in June 2008, and essentially glossed over these issues in endorsing continued government subsidies to the biofuels question. [...]
Serious. It’s a word you’ll hear the Japanese use again and again to describe Foreign Minister Katsuya Okada, and it’s one that just as accurately describes the foreign policy challenges Japan faces. It is just a few months since the Democratic Party of Japan seized power after more than five decades of virtually uninterrupted Liberal Democratic Party control. Yet, Okada, 56, has already been forced to confront what some are calling a crisis in the U.S.-Japan relationship, follow through on the party’s pledge to withdraw from a highly symbolic but contentious refueling mission for U.S.-led forces in Afghanistan, and warn [...]
