Part II UNCLOS and Economic Rights Coastal States The United Nations Convention on the Law of the Sea (UNCLOS) grants special rights to the coastal states with regards to exploration and use of marine resources, including energy production in the area in its jurisdiction at times termed as exclusive economic zone. Economic Control of Waters
Offshore Renewables Part 1 As part of the fabled “Blue Economy “the Indian Ocean is observing research being extensively carried out in the sphere of maritime oriented renewable energy sources. Proponents of offshore renewables are advocating marine ecologically compliant polices regulating maritime energy development, and concurrent institutional frameworks to assess environmental impact on marine habitats
Russian Crude at Discount With the increase in ocean borne trade and vessels the incidents of blasts and spills have correspondingly increased at ports and coasts. Although the maritime sector is relatively regulated rising costs of insurance of ships lets inspections and survey of ships worthiness slip in some jurisdictions. The shipping sector has witnessed
Studies indicate that the difference between fossil fuels and renewable energy is not vast. Trade in energy is unlikely to weaken and fossil fuel producers will continue to remain significant players in international affairs for at least the near future.Renewable energy sources may be more evenly distributed then fossil fuel sources
Credit Greentech Media Whether it’s a wind turbine or a solar panel or nuclear power plant fossil fuel powers its manufacturing , mining, processing, transportation and installation. In the next decade Fossil fuels will remain irreplaceable and no renewable energy miracle is around the corner. Developing countries need to be cautious in transiting from fossil
The hype about renewables must cater to the safe and environmentally friendly disposal of millions of lithium batteries as dumping into or near inland waters leading to the coast may well become a serious issue leading to enhanced toxicity and a threat to marine habitats
Renewables like wind and solar energy may not be the panacea for solving the worlds energy requirements. The global warming impact of renewables may only replace the heat sources generated from Fossil fuels. Besides energy from renewable sources is unreliable and weather dependent so how to ensure a non capital intensive and maintenance cost free
Saudi Aramco management being amongst the founding members of the oil and gas climate initiative announced the establishment of a sustainability fund to the tune of $ 1.5 billion to combat solutions to climate challenges . Aramco entered into an agreement to put in place a carbon capture and storage hub to potentially store up
