The continuing damage from the oil spill forces the government to close off an additional 1200 miles of the Gulf of Mexico, world energy consumption expected to grow considerably over the next 25 years & the DOE awards the Oak Ridge National Laboratory $122 million for a new nuclear innovation hub.
In an effort to control the massive oil spill, the federal government has ordered an additional 1,200 square miles of the Gulf of Mexico be closed to fishing. The decision will further paralyze the already beaten fishing industry which generates billions of dollars to the region. Early estimates show that the economic damage of the spill could run as high as $1.6 billion. Almost 800,000 gallons of oil a day have been spewing out of the BP-owned pipeline, making it the largest oil spill in US history, and every attempt by BP to stop the leak has failed. So make sure to tune in tomorrow for an update to this never-ending saga.
According to a recent report released by the Energy Information Administration, total world energy consumption is expected to grow 49% between 2007 and 2035. The report forecasts a steep growth trajectory for renewable energy solutions but still sees fossil fuels being responsible for 75% of the world’s energy supply. Much of the anticipated growth in energy consumption will come from increased economic growth in the developing nations of the world, as China and India are expected to account for 30% of the world’s total energy consumption.
The Department of Energy has awarded a team led by Oak Ridge National Laboratory (ORNL) scientists up to $122 million over five years to for the development and operation of a new Nuclear Energy Modeling and Simulation Energy Innovation Hub. The Hub, which includes partners from universities, industry and other national labs, will use advanced capabilities of the world’s most powerful computers to make significant leaps forward in nuclear reactor design and engineering. The Innovation Hub will provide engineers the opportunity to simulate different nuclear reactor operations and safety tests. The project will be funded at up to $22 million for 2010 and will a potential for an estimated $25 million per year for the next four years.
Tags: alternative energy, bp oil spill, daily energy news, daily energy report, department of energy, doe, energy consumption, energy news, energy report, fishing, gulf of mexico, nuclear innovation hub, Oak Ridge National Laboratory