Saturday January 26, 2008

Singapore MRT rail network length to double by 2020

channelnewsasia.com -> app-pac.mica.gov.sg :

In a massive new investment, the government will pump in another S$20 billion on new rail lines and extensions islandwide, Transport Minister Raymond Lim announced Friday [25 Jan 2008]. This is over and above the S$20 billion the government has already committed for the on-going Boon Lay extension, the Circle Line and the Downtown Line.

The rail update is the second in a series of three major policy announcements in a sweeping review of the land transport network. A bus system overhaul was announced last week. When the plans come to fruition in 2020, there will be one MRT station within five minutes' walk in the city, in a network that will be comparable to cities like New York and London, and surpassing Hong Kong and Tokyo.

There are currently 138 kilometres of rail lines. By 2020, authorities hope to double the network length to 278 km and expect it to carry three times as many journeys, from today's 1.4 million a day to 4.6 million in 2020. Two new lines will be built - the Thomson Line and the Eastern Region Line. Existing lines will also be extended. The North-South Line will be extended 1 km to serve the Marina Bay area while the East-West Line will be extended another 14 km west into Tuas. To avoid long waiting time and crowded trains, there will be 93 additional train trips weekly during the morning and evening peaks.

- This is a good initiative and not just from a convenience point of view. It will create jobs, the extra $20 billion will provide fiscal stimulus for the economy, and the hope is, when the new lines are operational, they will help to reduce fossil fuel usage and greenhouse gas emissions as people are encouraged to switch from driving [conventional] cars.

However, being a peakoiler, I will also look at this from a peak oil point of view. By 2010, by ASPO's estimate, global oil production is expected to have peaked, and global natural gas a few years after that. 80% of Singapore's electricity is generated from natural gas from primary suppliers Malaysia (peaking soon, and running out by 2020) and Indonesia (already a net crude oil importer, and actually building their very own LNG import terminal!).

By 2012, our LNG terminal is expected to be complete, just in time to participate in the global bidding war for the precious LNG cargo shipments plying the oceans. Hence, by 2020, I would like to know just what the new railway trains are supposed to be running on, ultra-expensive imported LNG? That's Plan A. We need a Plan B up and running by then. Regular readers already know my preferred choice : nuclear energy, followed much later on by space-based solar power. We'll see.

See also :

1. Public transport : Miles to go before Singapore's world-class
2. Efficient land transport crucial to economy: minister
3. New transport road map to be drawn up

(2008-01-26 23:43:15 SGT) [Energy] Permalink Comments [2]

Gold soars above US$920 as power crisis closes South African mines

financialpost.com :

Gold and platinum hit all-time highs on Friday [25 Jan 2008] after a power crisis closed South African mines, with dollar weakness, firm oil and expectations of more interest rate cuts in the United States providing additional support. South Africa's three main gold producers and the world's biggest platinum miner suspended production at all their mines due to a power crisis. Spot gold hit an intraday high of US$922.40 an ounce, surpassing last week's record. Platinum also hit an historic high at US$1,652 an ounce.

bloomberg.com :

AngloGold Ashanti, Gold Fields and Anglo Platinum shut their South African mines as the nation's power shortage worsened, threatening growth in the continent's biggest economy. Eskom, which supplies 95% of the country's power, can't meet demand after the government delayed a decision on expansion by four years. South Africa is the world's biggest platinum producer and ranks second, after China, for gold output. Power cuts are expected to last until at least 2013, Eskom has said. The shutdowns mean entire regions of South Africa are dark for up to five hours a day, triggering traffic jams and emptying shopping malls.

- More fuel for the golden rocket. If you are long, hold on and enjoy the ride. Support levels are around $880, $850 and $800. Breaking all-time records means that all resistance levels are broken, we'll have to see how high it goes in order to define the next level.

See also :

1. Gold reaches record, breaching $900, on US interest rates
2. Gold breaks 28-year record to hit $859 per ounce
3. Gold hits record $876 on crude oil, dollar

(2008-01-26 01:03:10 SGT) [Energy] Permalink

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