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With domestic oil consumption growing at 10% a year, and the Arab Spring leading to increased subsidies and social spending, the Saudis are looking at nuclear power to generate some of the supply of electricity. Saudi Arabia expects to have no reserve margin of supplies by 2020 at current levels of domestic consumption. In 2011 the Saudi government setup the King Abdullah City for Atomic and Renewable Energy, or KA-CARE, for coming up with nuclear energy policies. KA-CARE has an agreement with French supplier AREVA.
With domestic oil consumption growing at 10% a year, and the Arab Spring leading to increased subsidies and social spending, the Saudis are looking at nuclear power to generate some of the supply of electricity. Saudi Arabia expects to have no reserve margin of supplies by 2020 at current levels of domestic consumption. In 2011 the Saudi government setup the King Abdullah City for Atomic and Renewable Energy, or KA-CARE, for coming up with nuclear energy policies. KA-CARE has an agreement with French supplier AREVA.
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Gross exposure for derivatives, credit default swaps and other financial instruments tied to a default in five EU countries- Greece, Portugal, Spain, Ireland, Italy- is about $616 billion according to information from Markit, the Bank for International Settlements and and data firms. Christopher Whalen, editor of the Institutional Risk Analyst, says the financial industry is not cooperating to provide the information needed to understand the true extent of the exposure and the risks involved. This is why the Europeans are afraid of a default, he says, they have no idea what to expect out there. Darrell Duffie, Prof. at the Stanford School of Business, says this raises questions whether regulators know what contagion might occur among swaps holders.
Gross exposure for derivatives, credit default swaps and other financial instruments tied to a default in five EU countries- Greece, Portugal, Spain, Ireland, Italy- is about $616 billion according to information from Markit, the Bank for International Settlements and and data firms. Christopher Whalen, editor of the Institutional Risk Analyst, says the financial industry is not cooperating to provide the information needed to understand the true extent of the exposure and the risks involved. This is why the Europeans are afraid of a default, he says, they have no idea what to expect out there. Darrell Duffie, Prof. at the Stanford School of Business, says this raises questions whether regulators know what contagion might occur among swaps holders.
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