Crimean conflict reminds Europe - diversification of power sources is a good plan

European nations who vowed to shut down their nuclear plants and turn to renewables or piped in natural gas to provide their energy needs, may be rethinking that decision as the conflict in Crimea unfolds.

Russia supplies Europe with 14% of their of natural gas consumption (source: Deutsche Bank) and being vulnerable to such a neighbor, who is at best unpredictable and at worst aggressive, is never good a good thing -- especially when you are counting on them to keep your lights on.

A country with a diversified power generation portfolio (i.e. coal, nuclear, gas and renewables) has the flexibility to respond to geo-political events with confidence, able to switch direction when required.

Even before this event, Germany felt the impact of reducing coal and nuclear generation with high electricity costs. They are now importing part of their energy needs from nuclear plants across the border in France.  

Ukraine relies on four Russian-built nuclear power plants (15 reactors) for almost half its electricity and fortunately for that country, they’ve kept them operating consistently during the crisis.  

Read more information here about how the conflict raises prospects for nuclear energy. 

Surging ahead...Colombia’s economy surpasses Argentina

As a result of the recent devaluation in Argentina, Colombia’s $350 billion economy has surged ahead of Argentina to become the third largest economy in Latin America, led only by Brazil and Mexico. 

My wife and I vividly remember the devaluation of Argentina’s currency in 2001. The streets were full of the Argentinian citizens, banging on pots and pans, chanting loud protests against the state of affairs at the time.  The country did manage to recover, but it was a fragile recovery. Argentina is now suffering its second large devaluation in the last 15 years.

Colombia’s ranking is a monumental improvement from the Colombia I knew in the 1980's and 90’s -- then known for its drug violence and civil war. When I was in Bogota last month, I was encouraged to hear the Colombian government is promoting public-private partnerships with global companies for new infrastructure projects in the country. One example is the new, state of the art, impressive international airport in Bogota.  I look forward to watching the county take off. 

Read more about this exciting “win” for Colombia here...click link.