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Costa Rica to build 3 geothermal electricity plants with Japanese funding

The Tico Times has a report on plans to expand geothermal power in Costa Rica – Costa Rica to build 3 geothermal electricity plants with Japanese funding . Costa Rica hopes that the additional electricity generated by steam from the volcanic area will help the country reach its goal of generating 95 percent of its electricity with renewable resources by 2014. … The first of the proposed plants, Pailas II, will have an electrical generation capacity of 55 megawatts and will cost more than $333 million to build, according to a statement from Casa Presidencial. The costa Rican Electricity Institute, or ICE, will construct two other 50-MW power plants, Borinquen I and II, 40 kilometers away from the Pailas geothermal plants. “This is 165 MW of reliable [electricity generation]; that is to say, they will operate 24 hours a day, 365 days a year. This is clean, renewable and […]

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Venezuela’s congress grants Maduro decree powers

CARACAS, Venezuela (AP) — The Venezuelan congress granted President Nicolas Maduro emergency decree powers Tuesday that will strengthen the embattled leader’s hand as he goes after businesses the government accuses of sabotaging Latin America’s biggest oil economy. With the National Assembly’s vote, widely expected since Maduro requested expanded powers a month ago, the president will be able to enact laws without consulting congress for up to a year. The same tactic was employed four times by Maduro’s mentor and predecessor, the late Hugo Chavez, to promulgate dozens of laws that dramatically boosted state control over the economy. But unlike the charismatic Chavez, who had near-absolute command over his party, doubts about Maduro’s leadership have risen since he defeated opposition leader Henrique Capriles by a razor-thin margin in April’s presidential election and as worsening shortages of basic goods and galloping inflation have eroded popular support for his rule In what […]

Posted On : Published By : Tom Whipple
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Venezuela's congress grants Maduro decree powers

CARACAS, Venezuela (AP) — The Venezuelan congress granted President Nicolas Maduro emergency decree powers Tuesday that will strengthen the embattled leader’s hand as he goes after businesses the government accuses of sabotaging Latin America’s biggest oil economy. With the National Assembly’s vote, widely expected since Maduro requested expanded powers a month ago, the president will be able to enact laws without consulting congress for up to a year. The same tactic was employed four times by Maduro’s mentor and predecessor, the late Hugo Chavez, to promulgate dozens of laws that dramatically boosted state control over the economy. But unlike the charismatic Chavez, who had near-absolute command over his party, doubts about Maduro’s leadership have risen since he defeated opposition leader Henrique Capriles by a razor-thin margin in April’s presidential election and as worsening shortages of basic goods and galloping inflation have eroded popular support for his rule In what […]

Posted On : Published By : Tom Whipple
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Bolivia says it’s on track to develop nuclear power

LA PAZ, Bolivia, Nov. 19 (UPI) — Bolivia is on track to develop a national nuclear power program for peaceful civilian purposes that include building electricity export capacity in the country, official media reported. Ever since Bolivian President Evo Morales outlined plans in October for a long-delayed nuclear power generation program, officials in La Paz have been pursuing follow-up discussions with Argentina, a future partner and experienced nuclear power producer, Bolivian news reports said. Bolivia’s nuclear energy approach is evolving into a two-pronged policy that’s set to lead to a more vigorous government pursuit of a domestic nuclear power generation program and exploration, development and export of the country’s numerous deposits, reports in Los Tiempos and other local media said. The U.N. International Atomic Energy Agency in Vienna notes on its website that not all data about Bolivia’s uranium deposits are readily available. Morales told an energy conference in […]

Posted On : Published By : Tom Whipple
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Bolivia says it's on track to develop nuclear power

LA PAZ, Bolivia, Nov. 19 (UPI) — Bolivia is on track to develop a national nuclear power program for peaceful civilian purposes that include building electricity export capacity in the country, official media reported. Ever since Bolivian President Evo Morales outlined plans in October for a long-delayed nuclear power generation program, officials in La Paz have been pursuing follow-up discussions with Argentina, a future partner and experienced nuclear power producer, Bolivian news reports said. Bolivia’s nuclear energy approach is evolving into a two-pronged policy that’s set to lead to a more vigorous government pursuit of a domestic nuclear power generation program and exploration, development and export of the country’s numerous deposits, reports in Los Tiempos and other local media said. The U.N. International Atomic Energy Agency in Vienna notes on its website that not all data about Bolivia’s uranium deposits are readily available. Morales told an energy conference in […]

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Ecuador Spent $2.77 Billion on Fuel Subsidies During January-Sept

By Mercedes Alvaro QUITO–Ecuador spent about $2.77 billion on fuel subsidies for the January-September period, including high-octane naphtha, diesel and gas for cooking, the central bank said. The amount represents a 13% increase from the same period last year. During the first nine months of 2013, Ecuador imported a total of $4.14 billion in oil derivatives. Of the total spent on oil subsidies, about 49% went to diesel, 36% to high-octane naphtha and 15% went to cooking gas. According to official data, the main beneficiaries of the subsidies in Ecuador are high-income earners, due to their energy-consumption levels. Last year, the government spent about $3.4 billion in fuel subsidies. Currently, the government is reviewing its policy of subsidizing fuel to refocus the approach. Patricio Rivera, minister coordinator for Economic Policies, said recently in an interview the option to refocus fuel subsidies would be to set consumption quotas, and those […]

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Attorney Takes Stand in Chevron Case

New York lawyer Steven Donziger was the mastermind behind a litigation team that spent more than $21.4 million to allegedly extort billions from Chevron Corp. CVX +0.42% Chevron Corp. U.S.: NYSE $ 120.56 +0.50 +0.42% Nov. 18, 2013 4:02 pm Volume (Delayed 15m) : 4.74M AFTER HOURS $ 120.50 -0.06 -0.05% Nov. 18, 2013 5:14 pm Volume (Delayed 15m): 50,618 P/E Ratio 9.79 Market Cap $230.90 Billion Dividend Yield 3.32% Rev. per Employee $3,588,150 11/18/13 Attorney Takes Stand in Chevro… 11/15/13 Ecuador Seeks Suspension of Ch… 11/15/13 Chevron is Having a Very Bad W… More quote details and news » CVX in Your Value Your Change Short position over environmental damage claims in Ecuador’s Amazon Basin, a lawyer for the oil giant said Monday. Mr. Donziger took the stand in federal court in Manhattan to defend himself against racketeering charges brought by Chevron. Observers in the packed courtroom included […]

Posted On : Published By : Tom Whipple