Energy Crisis Can Be Solved By Thorium

We all know the dangers of nuclear energy, but what you are not being told is that Thorium is a safer and cheaper alternative to Uranium. The reason its not used is because you can’t use the byproduct for nuclear weapons as you can with Uranium. Progress stalled in 1974, now its time to pick up where we left off. Check out previous post on Thorium.

Liquid Flouride Throium Reactor in 5 mins.

UK Household energy Costs Up 140% in 10 Years

The latest official figures from the UK for inflation was 3.5%, but how much of the CPI is focusing on energy because according to uSwitch.com there has been 140% increase in 10 years.

Ann Robinson, Director of Consumer Policy at uSwitch says: “This is the cold reality facing households today – in less than ten years our energy bills have rocketed by 140%. 

On uSwitch’s report energy costs from last year alone increased 33%, and 20% in 2011.

The study by price comparison website uSwitch.com found that the average household’s annual energy bill of £1,252 now accounts for 11 percent of a couple’s basic state pension of £11,175 a year.

The cost of energy is now the top household worry for Britons (90 percent), ahead of the rising cost of food (77 percent) and mortgage payments (42 percent).
Almost a third of consumers (32 percent) say that household energy is unaffordable in the UK, the study found.

While the average UK household income has increased by 20 percent from £32,812 in 2004 to £39,468 today, the average energy bill has risen by 140 percent, according to uSwitch figures.

Households were spending an average of £522 a year for their energy in 2004, but now pay £1,252 a year – 3.2 percent of income or double the 1.6 percent of eight years ago. Britons now have an average of £297 of disposable income left each month after all essential household bills are paid.

The study found 83 percent of people believe that rising energy bills have had an impact on their disposable income, with 17 percent of these reporting that they no longer have any disposable income as a result and 27 percent saying energy bills have reduced their disposable income dramatically.

“This is the cold reality facing households today; in less than 10 years our energy bills have rocketed by 140 percent. The break-neck speed at which energy prices have sprinted upwards has caught many people unawares. Consumers are still playing catch-up”, said Ann Robinson, director of consumer policy at uSwitch.com.

“Energy now accounts for a significant slice of household income which is why the numbers rationing their energy use have risen so steeply in recent years. But going cold or without is a short-term and potentially harmful fix and not a long-term solution”, according to Robinson.

Source: PressTV, uSwitch

Japan In worse Shape Than Greece

Originally reported by Bloomberg is the admission by an official at the Ministry of Finance that Japan is in worse shape than Greece. More disturbing is the line about Japan being extremely vulnerable to energy price rises. I think we all know where they are going when you look at the prospect of war in Syria and Iran this year.

In a stunning turn of events, a Japanese Ministry of Finance official admits to Richard Koo’s worst nightmare “Japan is fiscally worse than Greece“. Bloomberg is reporting that, at a conference in Tokyo, Yasushi Kinoshita says Japan’s 2011 fiscal deficit was up to 10% of GDP and its debt-to-GDP has soared to over 230%. What is more concerning is the Kyle-Bass- / Hugh-Hendry-recognized concentration risk that Kinoshita admits to also – with a large amount of JGBs held domestically, the Japanese financial system is much more vulnerable to fiscal shocks (cough energy price cough) than Europe. Of course, the market is catatonic in its reaction to this – mesmerized by the possibility of buybacks and hypnotized at big-banks-passing-stress-tests – though we do note the small reverse stronger in USDJPY has reversed as this news broke and the USD pushes modestly higher.

Source: ZeroHedge

EU Plans New Powers To Coordinate Taxation

In a secret document revealed by the Daily Telegraph, France and Germany have plans for more than just the financial tax, which always sounded like a stepping stone to more control over taxation at a later date. They also plan to control taxation policies on energy and corporation tax.

A confidential Franco-German paper, seen by the Daily Telegraph, reveals that the financial transaction tax is seen in Berlin and Paris as the first step to giving the EU a new power to “coordinate” taxation.

The secret text also links existing European Commission proposals on energy taxation and a common method for calculating corporate tax to the push for new EU powers, heralding a major battle over sovereignty this spring.

“European institutions and member states should accelerate the process of tax co-ordination,” the Franco-German paper argues. “In particular the negotiation of the European Commission proposals on energy tax directive, common consolidated corporate tax base and common system of financial transaction tax should be accelerated.”

The EU plan for common energy taxes means we pay more for transport and energy cost.

EU officials have said that the Franco-German push will give a new lease of life to Brussels for new energy taxes that will set higher minimum road and heating fuel duties based on carbon emissions.

British and other European industries are concerned that the legislation will lead to increases in the level of duty on red diesel, damaging competitiveness during a recession.