European Union and China end their largest trade row over Solar Panel

The European Union has approved a plan that will improve the position of European solar panel producers and simultaneously leave Chinese manufactures spared sky-high duties after about two years of price disputes.

The agreement signed by the European Commission (EC), the European Union’s (EU) executive arm in Brussels, sets a minimum price for the panels, as well as the volume limit on EU imports until the end of 2015.

Under the agreement, a minimum price would stand at 56 euro cents a watt for annual imports from China up to as much as 7 gigawatts, according to a European trade official speaking last weekend, when the commission announced that a deal had been reached. And the provisional levies would range between 37.3 percent to 67.9 percent, depending on the company.

The agreement’s main target is to limit competition with European solar – panels producers, who’ve been complaining the Chinese sold at below – cost price, a practice known as dumping.

The agreement will be officially published on Saturday and takes effect on August 6. Those Chinese manufactures who agree to the terms will avoid duties the 28-nation EU had planned to impose.

Karel De Gucht, EU Trade Commissioner announced the settlement with China on July 27 after weeks of what he called “intensive” talks.

Earlier in  June, the EC decided to apply a 11.8 percent levy on Chinese  solar panels for two months before rising the charge to 67.9 percent.

RT

Search for an Alternative to Fossil Fuel: The Rising Power of Solar Energy

Royal Dutch Company prognosticates that world demand for oil will reach its peak between 2035-2040, after which solar power or gas will take the lead according to a study.

After research into global energy prospects, Shell came up with two possible scenarios called ‘Mountains’ and ‘Oceans’.

The first one predicts slow international economic development and the markets largely controlled governments that will stimulate nuclear energy exploitation.

It also suggests that ecology-friendly natural gas will become the backbone of the world’s energy system substituting coal as the main fuel in electricity generation. In this case, there will be some changes in transportation, with trucks and cars largely powered by electricity and hydrogen, and CO2 emissions will be reduced.

‘Oceans', which is the second forecast considers a more dynamic and ‘fluid’ global economy where reforms trigger a productivity growth and whose development will be determined largely by market forces and civil society, with a smaller role of government.

This scenario focuses on solar power that can become the dominant energy source outsmarting the traditionally known ones in 2060s-2070s as high energy prices unlock more expensive resources and technologies based on the in-depth analysis .

Nuclear energy development will be restrained by the popular concern while coal will continue to be widely used in electricity generation, Shell experts predict.

The demand for oil has been declining every month and at the end of the year will have decreased by 2.08% which is 18.56 million barrels per day according to global oil report.

On the Road to Kazakhstan: Iran Discovers More Uranium Sites

As Iran prepares for talks over its disputed atomic programme, it said on Saturday it had found significant new deposits of raw uranium and identified sites for 16 more nuclear power stations.

State news agency IRNA quoted a report by the Atomic Energy Organisation of Iran (AEOI) which said the reserves were discovered in northern and southern coastal areas and had trebled the amount outlined in previous estimates.

"We have discovered new sources of uranium in the country and we will put them to use in the near future," Fereydoun Abbasi-Davani, head of the AEOI, was quoted as saying at Iran's annual nuclear industry conference.

The announcement could be deciphered as Iran's strategy to bolster its negotiation power at talks in Kazakhstan on Tuesday with the United States, Russia, China, Britain, France and Germany. by talking up its reserves and nuclear ambitions, may hope

Diplomats say the six powers, known as the P5+1, are set to offer Iran some relief from international sanctions if it agrees to curb its production of higher-grade enriched uranium.

The West says Iran's enrichment of uranium to a fissile purity of 20 percent demonstrates its intent to develop a nuclear weapons capability, an allegation the Islamic republic denies.

Iran's reserves of raw uranium now stood at around 4,400 tonnes, taking into account discoveries over the past 18 months, IRNA quoted the report as saying.

In another sign that Iran is intent on pushing forward with its nuclear ambitions, the report also said 16 sites had been identified for the construction of nuclear power stations.

The exact locations was not specified but they included coastal areas of the Gulf, Sea of Oman, Khuzestan province and the Caspian Sea.

Iranian authorities have long announced their desire to build more nuclear power plants for electricity production. Only one currently exists, in the southern city of Bushehr, and that has suffered several shutdowns in recent months.

The announcements could further complicate the search for a breakthrough in Kazakhstan, after three unsuccessful rounds of talks between the two sides in 2012.

In what Washington has called a provocative move, Iran is also installing new-generation centrifuges, capable of producing enriched uranium much faster, at a site in Natanz in the centre of the country.

Western diplomats say the Six-power will reiterate demands for the suspension of uranium enrichment to a purity of 20 percent, the closure of Iran's Fordow enrichment plant, increased access for International Atomic Energy Agency inspectors and agreement to address concerns on existing uranium stockpiles.

In return, the latest embargoes on gold and metals trading with Iran would be lifted. Iran has criticized the offer and says its rights need to be fully recognized. Suggestions were earlier made that Iran transfers its enriched uranium to Russia and in return it gets tghe 20% purity needed for medical isotopes.

"If the Six-power group wants to start constructive talks with Tehran it needs to present a valid proposal," said Jalili. "It needs to put its past errors to one side ... to win the trust of the Iranian nation." Ayatollah Khameini had earlier rejected direct talks with Washington saying "it is holding a gun against Iran."

In a statement issued before the Iranian announcement, German Foreign Minister Guido Westerwelle said the Six-power group wanted to enter a 'substantial negotiation process' over Tehran's nuclear programme.