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Japan aims to set up commercial hydrogen fuel supply chain by 2030 By Reuters

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TOKYO (Reuters) – Japan will seek to create a commercial hydrogen fuel supply chain by around 2030 to support reducing carbon emissions, Industry Minister Hiroshi Kajiyama said during a virtual hydrogen conference late on Wednesday.

Japan will try to speed up technological developments to help scale up a transportation system for hydrogen using ships by around 2030, Kajiyama said, pointing to a plan by Kawasaki Heavy Industries to ship liquefied hydrogen from Australia to Japan early next year for the first time in the world.

Kawasaki launched the world’s first liquefied hydrogen carrier last December.

Japan unveiled a basic hydrogen strategy in 2017 aiming to import about 300,000 tonnes of hydrogen in 2030.

To support making hydrogen fuel more commercial, Kajiyama said his ministry has requested a hydrogen budget of $800 million for the next fiscal year, 20% more than this year.

“Given growing momentum in actions taken by many countries toward wider use of hydrogen, we have come to share a common understanding that hydrogen is an essential energy for decarbonisation,” Kajiyama said.

Hydrogen has been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments, advocates are trying to push the niche energy into the mainstream.

In northern Japan’s Fukushima prefecture, the world’s biggest renewable energy-powered hydrogen plant, with 10 megawatts of capacity, was built in March.

Chiyoda Corp succeeded in a pilot project in June to ship hydrogen in a chemical form, methylcyclohexane, from Brunei to Japan as fuel for power generation.

Also on Wednesday, Toyota Motor (NYSE:) and eight other firms said that they will form a new nation-wide hydrogen association in December to promote hydrogen supply chains and global alliances.

 

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Oil Stockpiles Fell by 1 Million Barrels: EIA By Investing.com

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investing.com — Oil stockpiles declined roughly in line with expectations last week,  according to the Energy Information Administration.

fell 1 million barrels, against expectations for a draw of 1.02 million barrels. That comes a week after crude stocks fell 3.8 million barrels.

Inventory has fallen in all but one of the last six weeks as the economy tries to come back to life after Covid-related shut downs earlier this year. 

, the U.S. benchmark, fell 2% in morning trading ahead of the data release. 

Crude oil stored at , Oklahoma, increased 975,000 barrels compared to an expected build of 1.1 million barrels.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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EU countries back binding green farming schemes By Reuters

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© Reuters. FILE PHOTO: A farmer irrigates his field of potatoes during sunset, in Tilloy-Lez-Cambrai

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By Kate Abnett

BRUSSELS (Reuters) – European Union agriculture ministers agreed on Wednesday to set aside part of the bloc’s massive farming policy budget for programmes that protect the environment.

The EU is nearing the end of a two-year struggle to overhaul its agriculture policy, to attempt to align it with the bloc’s climate change commitments, while supporting farmers’ livelihoods.

The agriculture policy as a whole will suck up roughly a third of the EU’s 1.1 trillion euro ($1.30 trillion) budget for 2021-202, to be split between direct payments to farmers and other support for rural development.

Ministers agreed that 20% of the payments to farmers will be earmarked for green schemes such as organic farming or agroforestry. Farmers will not be able to access the cash for other purposes.

The policy kicks in from 2023 and ministers agreed a two-year pilot phase for the green schemes, meaning they would become binding from 2025. Some countries had raised concerns that tying cash to environmental aims would mean the money was left unspent.

“We can’t simply leave it up to member states to decide whether or not eco-schemes are used and, if so, what money will be made available,” said German agriculture minister Julia Kloeckner, who chaired the meeting.

With agricultural sites comprising 40% of all EU land, farming has a large influence over the health of Europe’s natural habitats.

Agriculture is the most frequently reported threat to nature in Europe, amid intensive farming techniques including pesticides and irrigation, the EU environment agency said on Monday.

Campaigners said the 20% share for green schemes was too low.

“Agriculture ministers are largely perpetuating a farm policy which will throw taxpayers’ money at polluting, industrialised agriculture until at least 2027,” said WWF senior policy officer Jabier Ruiz.

The farming policy negotiations do not end with Wednesday’s deal. EU countries must now strike an agreement with the European Parliament and the European Commission on the rules. Parliament is voting on the policy throughout this week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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Gold Up Over Soft Dollar and Rising Stimulus Hopes By Investing.com

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By Gina Lee

Investing.com – Gold was up on Wednesday morning in Asia, boosted by a weak dollar and the prospect of the U.S. Congress passing the latest stimulus measures ahead of the Nov. 3 presidential election.

were up 0.38% at $1922.75 by 12:26 PM ET (4:26 AM GMT). The was down on Wednesday morning.

The gap between the Republicans and Democrats seemed to decrease after President Donald Trump indicated on Tuesday that he was willing to accept a stimulus package with a larger price tag, saying, “I want to do it even bigger than the Democrats.”

House of Representatives Speaker Nancy Pelosi added to hopes that the stimulus measures would be passed by Congress, saying, “I hope so. That’s the plan,” for an agreement to be reached the following week. Pelosi will continue talks with Treasury Secretary Steven Mnuchin later in the day.

However, with Republicans still opposed to the measures’ price tag, it remains to be seen whether both parties will reach a consensus.

The Federal Reserve struck a positive note, with Chicago Federal Reserve Bank President Charles Evans saying that the current rise in U.S. COVID-19 cases may not dent the recovery too much, remaining “reasonably optimistic” that unemployment will fall to 5.5% by the end of 2021. Evans’ colleagues at the Fed called for more fiscal support to complement unprecedented monetary aid, and the central bank is due to release its ‘Beige Book’ economic survey later in the day.

Across the Atlantic, investors continue to monitor the progress of Brexit talks between the U.K. and the European Union (EU). Both sides called for the other to compromise to save the fast-deteriorating talks.

Swiss gold exports to China and India decreased in September, importing record volumes of bullion from Hong Kong instead and exporting the yellow metal to the U.K., according to customs data. Other data showed that holdings in SPDR Gold Trust (P:) fell 0.23% to 1,269.93 tons on Tuesday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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