Mexico may double nuclear plant output

Mexico may become the latest oil-rich country looking seriously at nuclear power as a hedge against declining energy reserves. Mexico's state-run oil company Pemex produces about 3.2 million barrels of oil per day, about 80,000 per day less than last year due to declining reserves.

Energy Minister Canales Clariond said Mexico's nuclear energy output could be doubled by building a second nuclear power plant as soon as possible. He was quoted as saying that a new plant would cost up to $3 billion and could take five years to build.

Mexico's first nuclear plant, the Laguna Verde dual-reactor plant in the gulf state of Veracruz, is being expanded by General Electric to increase output by 20%. Laguna Verde, which went into operation in 1990, produces about 5% of Mexico's energy.

- Let's see. Mexico, home to the world's second largest oil-field, plans to double its nuclear power capacity? The same Mexico which has already started importing LNG? And note that the Arabs of the Middle East, home to the world's largest oil reserves, also wish to develop nuclear energy.

All these, at the same time that oil prices seem to be falling and falling, and the media seems to be busy trying hard to debunk peak oil. Makes you go, "hmmm ..." doesn't it?

Post a Comment:

Comments are closed for this entry.

« Russia tightens grip... | Main | Bush 'prepares emiss... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004