Crane accident sparks massive power cuts across Tokyo

business-times.asia1.com.sg :

A power outage plunged much of Tokyo into chaos for about three hours, darkening offices, trapping people in elevators and disrupting transport and computer systems. The outage, caused when a construction crane on a boat hit power lines, started around 7.40 am as offices were opening and commuters were heading for work.

A Tokyo Electric Power Co spokesman said over 1.39 million homes were affected. Traffic lights went off in at least 440 places. Tokyo subway authorities said about 120,000 passengers were affected. The Tokyo Stock Exchange was trading as usual, but calculations of the Nikkei 225 index were frozen due to a system error related to the power cut. Foreign exchange traders at several banks said they were unable to conduct business because of computer problems.

The severed power lines are part of a massive grid serving the 35 million inhabitants of the Tokyo metropolitan region, which includes the cities of Yokohama and Chiba. The last time Tokyo had a similar blackout was in November 1999, when electricity was cut to some 800,000 households after a Japanese military plane hit power lines.

(2006-08-15 23:59:25 SGT) [Energy] Permalink

Green buildings in New York

peakoil.com -> nytimes.com :

They are not yet as ubiquitous as the Toyota Prius, the hybrid car popular among the ecologically minded, but "green" apartment buildings have begun popping up around Manhattan. At least six large buildings designed to meet elevated standards for energy efficiency and for the use of environmentally friendly materials have opened in the last three years, and several more are under construction or being planned.

The green designation is conferred on buildings that incorporate recycled or renewable materials and that slash energy use and water consumption with features like photovoltaic cells, internal sewage treatment systems and roofs covered in soil and vegetation. Developers say they are building green because they believe in it, but they also expect to gain a competitive edge. Developers say consumers increasingly will opt for an apartment with green features, even if it comes at a higher price.

(2006-08-15 23:51:14 SGT) [Env] Permalink

Japanese tanker spills tons of crude oil

peakoil.com -> chron.com :

A Japanese tanker spilled about 1.3 million gallons of crude oil in the eastern Indian Ocean following a collision with a cargo ship. The spill of about 31,500 barrels may have been the largest ever involving a Japanese tanker. The Bright Artemis tanker spilled the oil following a collision with the Amar, a smaller cargo ship, Mitsui O.S.K. Lines said. The tanker was carrying about 74 million gallons, or 1.76 million barrels, of crude. It had left port in Oman bound for Japan.

The largest oil spill involving a U.S. vessel occurred when the Exxon Valdez oil tanker emptied 11 million gallons of crude oil into Prince William Sound off the coast of Alaska in 1989, killing hundreds of thousands of birds and marine animals and soiling more than 1,200 miles of rocky beach.

- What a waste.

(2006-08-15 23:44:59 SGT) [Env] Permalink

CA plans to cut 1700 jobs

news.yahoo.com :

Business software maker CA [formerly Computer Associates] said that it would cut 1,700 jobs, or 10.5% of its workforce. Half the job cuts would be in North America. The company also reported that its first quarter net income fell 64% as expenses rose.

CA is trying to recover from accounting scandals, years of losses and the departure of executives. The latest earnings report came after two rough quarters for CA as it lost its chief operating officer, chief financial offer and chief technology officer. It has also watched former CEO Sanjay Kumar plead guilty to fraud and other charges stemming from a $2.2 billion accounting scandal.

(2006-08-15 12:50:05 SGT) [Biz] Permalink

Singapore trade minister heads to Russia to sign MOU

channelnewsasia.com :

Trade and Industry Minister Lim Hng Kiang will be in Russia to sign a Memorandum of Understanding on Economic Cooperation in Special Economic Zones between Singapore and Russia. Under the MOU, Singapore will play an advisory role in the development of SEZs in Russia, as well as share expertise and knowledge in the development of industrial parks in Singapore and overseas.

- The peakoiler in me sees "further economic co-operation" between Russia and Singapore. Watch for an LNG deal in the future.

IEA: Market can still withstand rising oil prices

peakoil.com -> allheadlinenews.com :

The International Energy Agency said the world oil market can still withstand the rising prices of oil but warned the public is already overburdened and the situation is very volatile. In fact, the IEA expressed surprise the global oil price has not increased much higher considering the current string of bad news affecting supply. The agency said these outages in oil supply can be offset by an increased production in Saudi Arabia, and the decision of the U.S. to make available its strategic reserves.

- Mmm, maybe, but for how long? At what price does price-inelastic demand start to break down? Might the current lack of enthusiasm on the long side speak of expectations of reduced usage due to a coming economic slowdown?