Week 44 of 2022 – YPF Around the Globe (English)

Timeframe: 29 October to 4 November 

Contributors: G.M.Sifat Iqbal, Affan Bin Saber, Anika Bushra, and Mansib Khan

To read Bangla, click here.

1. Politics

Philippines prison chief behind journalist killing.

Police have accused the country’s prison chief of ordering the killing of a prominent radio journalist in the Philippines. Percival Mabasa, 63, was shot dead on his way to his radio studio in a suburb of the capital Manila last month. Officials said he had previously aired corruption allegations against the bureau’s director general, Gerald Bantog. Mabasa was also an outspoken critic of former President Rodrigo Duterte. Mr Bantag, who is currently suspended, will “probably be the highest official [of the land] charged with this gravity case”, Justice Secretary Crispin Remulla said, AFP reported.

Source: bbc

2. Economics & Business

Chevron and JERA advance lower carbon solutions in Asia Pacific and the U.S.

Chevron and JERA have worked together to bring affordable and reliable energy to our customers in the form of LNG, and we are excited about the opportunity to further build upon this relationship as we identify opportunities to provide ever-cleaner energy” The companies have signed a Joint Study Agreement to explore the potential co-development of lower carbon fuel in Australia and will conduct a feasibility study expected to be completed in 2023. Lower carbon fuel supplies to be produced in the region would seek to leverage Chevron’s LNG and CCS knowledge and experience. As part of their focus across the hydrogen value chain – including production, export, and transportation – Chevron and JERA will also study liquid organic hydrogen carriers (LOHC) in the U.S. LOHC has the potential to enable efficient hydrogen transport and long duration energy storage applications , essentially using hydrogen as a battery to deliver lower carbon energy on demand. As part of their focus on LOHC, Chevron and JERA have both invested in Hydrogenious LOHC Technologies

Source: BBC

Currency depreciations risk intensifying global food and energy crisis: World Bank.

Currency is depreciating in many developing economies, which is increasing fuel precise, which in turn could increase food and energy prices that many developing economies are already facing. Developing economies that import oil had to increase their oil prices due to the shrinking currency value. About 90% of these economies also observed an elevation in their domestic wheat prices. Energy is input to agricultural production, so increases in energy prices have elevated the cost of food commodities. In the first three quarters of 2022, South Asia faced an average 20% increase in food-price inflation. Although commodity prices have decreased, it is still high, and if the costs increase again, it could lead to continued food insecurity in developing nations. Therefore, various policies must be implemented to navigate supply, distribution, and support real incomes.

3. Bangladesh (Economy)

 Used car market rises despite dollar crisis

Despite the ongoing economic uncertainty and the government’s efforts aimed at discouraging the purchases of luxury items from external sources, reconditioned car imports surged by more than 75 per cent year-on-year in July-October.
According to data from the Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida) Dealers imported 8,628 units of cars, mostly passenger cars and micro-buses between July and October, while it was 4,923 units during the same four-month period in the last fiscal year. “The import of cars increased in the first four months of the fiscal year as the demand is stable,” said Abdul Haque, a former president of the Barvida.
Data from the Bangladesh Road Transport Authority showed that 13,502 units of passenger cars were registered from January to September. In the entire 2021, some 16,049 units were registered. During the nine-month period this year, 8,133 units of sport utility vehicles were registered. It was 7,602 units last year. Similarly, 5,800 units of microbuses were registered between January and September. The figure was 4,941 units in 2021.


Source: The Daily Star

4. Science & Technology

 Finnish method of producing clean energy using sand

In Vatajankoski power plant, 270 km (168 miles) north-west of Finland’s capital, Helsinki four young engineers believe that they have found a method of generating clean energy using sand that is simple abundant and cheap. World’s first commercial-scale sand battery is in this power plant and is a 7m (23ft)-high steel container made up of 100 tons of low-grade builders’ sand, two district heating pipes and a fan. The sand becomes a battery after it is heated up to 600C using electricity generated by wind turbines and solar panels in Finland The renewable energy powers a resistance heater which heats up the air inside the sand. Inside the battery, this hot air is circulated by a fan around the sand through heat exchange pipes. Thick insulation surrounds the sand, keeping the temperature inside the battery at 600C (1,112F), even when it is freezing outside. The battery stores 8 MWh of thermal energy when full. When energy demand rises, the battery discharges about 200 kW of power through the heat-exchange pipes The company uses cheap, low-quality sand that’s been rejected by builders instead of high quality river-sand which is used in vast quantities for construction. Sand is a very effective medium for retaining heat for a long period of time storing power for months at a time. Engineers are focusing on doing this on a large scale for the rest of the world

Source: BBC

5. Environment.

U.S.-UAE Partnership to Accelerate Transition to Clean Energy (PACE)

The United States and the UAE announced on Nov 1 a clean energy partnership worth $100 billion to produce 100 gigawatts of clean energy by 2035. The deal was signed during an energy conference in Abu Dhabi called the “Partnership for Accelerating Clean Energy” (PACE). The two countries aim to reduce carbon and methane emissions while developing nuclear technology and decarbonizing industrial and transportation sectors. The fund will also support developing countries that need investment in clean energy. The agreement also shows the country’s commitment to supporting its allies and partners to catalyze the clean energy transition. The white house statement said that the two countries would establish an expert panel that will identify priority projects, eliminate obstacles, and assess PACE’s success in catalyzing $100 billion in financing and investment and fulfilling its aim to deploy 100 gigawatts of clean energy worldwide.

Source: CNBC

Disclaimer: The information provided here is obtained solely from the aforementioned third parties. Youth Policy Forum (YPF) is not responsible for any misinformation or misrepresentation.

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