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On November 30th, Japanese Finance Minister Satsuki Katayama stated on Sunday that the recent sharp fluctuations in the foreign exchange market and the rapid depreciation of the yen were clearly not driven by fundamentals. "Our position is to issue a warning about such events," Katayama said. She reiterated that currency intervention is still possible in response to excessive yen volatility and speculative movements. This aligns with the September Japan-US joint statement, which stated that exchange rates should be determined by the market. On Monday, the market will closely watch for comments from Bank of Japan Governor Kazuo Ueda to see if he signals a possible interest rate hike at the Bank of Japans December meeting.The Kurdistan Regional Governments Electricity Department: Operations at the Khormor oil field have resumed, and the transmission of natural gas to the power plant began at 2:00 AM.On November 30th, three OPEC+ representatives indicated that OPEC+ is likely to maintain its first-quarter 2026 oil production levels at its Sunday meeting, a move that would moderate its efforts to regain market share amid growing market concerns about oversupply. Similar comments were made by other sources this week. The organization had been cutting production for years until April of this year, when eight member countries began increasing output to restore market share.November 30th - The 2026 national civil service examination for central government agencies and their affiliated institutions was held today. The Administrative Aptitude Test was held from 9:00 AM to 11:00 AM, and the Essay Writing Test was held from 2:00 PM to 5:00 PM. The 2026 national civil service examination plans to recruit 38,100 people, a decrease of 1,600 from last year. Although the number of recruits has decreased slightly compared to last year, the number of applicants has reached a record high. According to data released by the State Administration of Civil Service, 3.718 million people passed the qualification review by employing units, with a ratio of approximately 98:1 between those who passed the qualification review and the planned recruitment number.On November 30, Venezuelan Foreign Minister Silva issued a statement via social media on the 29th, strongly condemning the US governments actions that threatened Venezuelas airspace sovereignty, calling it a "colonial threat" and "illegal aggression," and announcing that the US actions had forced the suspension of flights for Venezuelan migrants to return home. The statement noted that US President Trump posted a message on social media that day attempting to exercise "illegal extraterritorial jurisdiction" over Venezuela, issuing "orders" over Venezuelan airspace. The Venezuelan government firmly opposes this, believing that it seriously infringes upon Venezuelas airspace sovereignty, territorial integrity, and aviation safety, and is a "hostile, unilateral, and arbitrary act" that violates the purposes and principles of the UN Charter.

California Asserts That It Requires More Energy to Keep The Lights on

Haiden Holmes

May 07, 2022 09:35

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Energy authorities in California presented a gloomy outlook for the state's electrical infrastructure on Friday, stating that it lacks the ability to keep the lights on this summer and beyond if heatwaves, wildfires, and other extreme events take their toll.


In response to a series of obstacles posed by the ambitious transition away from fossil fuels, including rolling blackouts during a 2020 summer heat wave, executives of three state agencies and the office of Governor Gavin Newsom have provided an update.


California's climate change regulations are among the most stringent in the world, including a 2045 aim of producing all of its electricity from carbon-free sources.


During an online conference with media, state officials predicted a potential shortfall of 1,700 megawatts this year, with the number reaching as high as 5,000 MW if the grid is overburdened by numerous difficulties that lower available electricity while driving up demand.


Power outages along these lines might affect between one million and four million people. Officials stressed that outages will only occur under extreme conditions and will depend in part on the performance of conservation measures.


According to the California Energy Commission, Public Utilities Commission, California Independent System Operator, and Newsom's administration, the state will still have a capacity gap of approximately 1,800 MW in 2025. In addition, they anticipated yearly electricity tariff hikes between 4 and 9 percent between now and 2025.


The planning of electricity in California has been complicated by destructive wildfires, extreme heat events, and drought, which have affected hydropower supply. According to officials, conventional electricity demand forecasting does not account for such significant climate-related events.


Moreover, numerous solar farms and energy storage projects that the state has commissioned in the past two years have been delayed due to supply chain difficulties during the pandemic and a recent federal trade investigation into solar imports.


During the briefing, Newsom's assistant Karen Douglas stated, "We are now in a position where we must consider a new environment in terms of the challenge we face in putting online the projects we need."


The declaration, which came a week after Newsom said the state was open to keeping its remaining nuclear power plant operational to preserve reliability, appeared to lay the framework for an effort to keep older plants — some of which are natural gas-powered — operational.


Mark Rothleder, chief operating officer of the California ISO grid operator, stated, "Before we let some of these retirements go, we must ensure that sufficient new resources are in place and operational." Otherwise, we expose ourselves to the possibility of having insufficient capability.