Connect with us

Column

Flooding And Environmental Sustainability

Published

on

Last week, on the 27th of May, 2021, the people of Rivers State celebrated the 54th anniversary of the creation of Rivers State. The state has achieved so much in terms of infrastructure and human capital development. It has achieved good governance and not so much good governance in some dispensations. The present dispensation has given the people more hope to celebrate the dividends of statehood.
However, the common failure of many societies across the globe is the failure to conquer their environment as God commanded. What we see is the ravaging of the environment which has made it more vulnerable to environmental disasters, which include flooding and desertification. Rivers State has 60 percent of its 10,500 square miles and beyond covered by water, and large areas of mangrove and rainforest. Its flora and fauna are of enormous natural resources. The struggle to sustain this God-given environment has been a great task.
The Niger Delta environment has endemic challenges which require scientific and deliberate consciousness of the inhabitants to mitigate. It also requires immediate solutions as the people in the region who are ravaged by flooding cannot wait for medium and long term plans to mature. There is the need to start from what can be dealt with immediately to provide shelter to the people, what can give the people safe home, on dry lands in the face of drowning floods. Enough consciousness has been created to the world at large by the United Nations.
On the 5th day of December, 1972, the United Nations General Assembly through Resolution 2997 in Stockholm, Sweden created the World Environment Day celebration to sensitise all member-nations on the need to ensure environmental safety and sustainability. The environment is the only human habitation known to man. This will remain the case until the superpowers find another solar system habitable.


The UN also has an agency set aside for the monitoring and control of the global environment. The Agency has its full presence in Rivers State. We are aware of the advocacies and direct involvement in Ogoni clean-up.
The problem with environmental sustainability has been the refusal of man to act and act wisely. The people have refused to learn that natural disasters do not consider such ineptitudes as bad environmental habits and lack of conscious disposition to the right relationship between man and his environment which should be that of mutual respect. God in the book of Genesis is reported to have given a Garden to man.
Man unfortunately has turned the Garden into deserts and flood plains. Every nation, including Nigeria, has domesticated all UN regulations by setting up their own agencies to manage and control the environment to make it safe. In Nigeria, all the relevant statutory Agencies on Environment have not been able to provide solutions to natural disasters and environmental degradation. NIMET, an Agency of the Federal Government, has been giving flood alerts since its inception. One thing is to make scientific and precise predictions, another thing is for the relevant institutions, the people concerned and governments at different levels to take the necessary precautions and provide mitigating measures.
In 2012, Nigeria witnessed the worst flood disaster in recent memory. There was a NIMET flood alert, but thousands of people lost lives and homes and property were swept away into Rivers Niger and Benue, in impacted parts of the country. The Niger Delta and Rivers State in particular had its ugly share of the disaster that is better forgotten. But how can one forget such a bitter experience that drowned and swept away the homes and hopes of many in the Orashi region of Ahoada East, Ogba/Egbema/Ndoni and Abua /Odual Local Government Areas of Rivers State, as well as Asari-Toru, Degema, Obio/Akpor and Port Harcourt Local Government Areas. These LGAs are still vulnerable. About 16 LGAs are exposed to this danger in 2021. The 2021 Nigeria Meteorological Agency (NIMET) prediction for 2021 is no less frightening
Like the previous ones, the predictions with the basic highlight of flood and dry spell, fingered states like Benue, Bauchi, Anambra, Adamawa, Bayelsa, Rivers as areas that will experience flash flood. Many states in the North East and North West, according to the prediction, will suffer from Dry Spell which will last up to three weeks or more. The Minister of Aviation, Senator Hadi Sirika, made these declarations while releasing the 2021 Seasonal Climate Prediction at the instance of NIMET in February.
Indeed, February is very early enough to remind all states affected and the Federal Government as well as Local Government Councils to take necessary mitigation measures to reduce effect of the disaster. One interesting thing about meteorological predictions is that they can come early, yet everyone including the impacted communities behave as if all is well. They refuse to heed the call to proceed to higher and safe lands, hoping that the “joke” won’t last forever. The immediate impacted communities are usually adamant to move away from their ancestral homes to safe places. Local Government councils have failed to provide proactive measures to move their people to safety. Flooding is a serious natural disaster that requires a synergy of all stakeholders and government to address, from C.D.C to Federal Government.
Now that we are yet to enter the rainy season, this is the time to begin to work with the relevant agencies to ensure that the damage caused by the previous flood will not repeat itself. Those who are directly impacted must begin to take measures that will reduce their sufferings by moving away from the flash points, no matter what it will cost them. The usual drama of fish and crocodiles swimming in the homes of victims and competing with families and furniture must be avoided. It is advised that previous measures that failed in the past to mitigate flooding should not be repeated. Those concerned must seek new ways of protecting their environments. Land speculators and those seeking accommodation must look for warning signs and avoid flood plains.
Environmental sustainability requires every step to be taken, from the way we generate and dispose our refuse, to policy thrusts. Things must be done in a manner that will not pose any form of danger to human habitation. All forms of disilting of drains and dredging of water channels should be done now before the heavens begin to open for floods. Port Harcourt and Obio/Akpo have many water channels and creeks but many of them have been taken over by land speculators and land lords for cash nexus.
This has been a major source of flooding in the city and other parts of the state where we have perennial flooding. It has therefore become expedient for the authorities to go into action by bulldozing these water rights of way. It takes a strong political will found in the present administration to achieve this. Greed must not be allowed to take prominence over the people’s safety. Flooding in the 16 local government areas listed should not be allowed to become an intractable phenomenon.

By: Bon Woke

Continue Reading

Column

Renewable Energy Faces Looming Workforce Crisis

Published

on

Despite a discouraging political climate and unprecedented uncertainty in the United States clean energy sector, low costs of wind and solar energy continue to drive growth of the domestic clean energy sector.
However, while market forces continue to support the expansion of renewable energy capacity, the sector faces critical challenges extending beyond the antagonism of the Trump administration.
The continued growth of solar and wind power risks being hampered by several mitigating factors, including (but not limited to) intensifying competition over increasingly scarce suitable land plots, stressed and volatile global supply chains, lengthy and unpredictable development processes, Complex and overlapping permitting processes, and a critical talent gap.
The renewable energy labor shortage has been years in the making, but is no less closer to resolution. The issue spans both white collar and blue collar positions, and threatens to kneecap progress in the booming sector.
Between the years of 2011 and 2030, it is expected that global levels of installed wind and solar capacity will quadruple. Analysis from McKinsey & Company concludes that “this huge surge in new wind and solar installations will be almost impossible to staff with qualified development and construction employees as well as operations and maintenance workers.
“It’s unclear where these employees will come from in the future,” the McKinsey report goes on to say.
He continued that “There are too few people with specialized and relevant expertise and experience, and too many of them are departing for other companies or other industries.”
The solar and wind industries are suffering from a lack of awareness of career paths and opportunities, despite their well-established presence in domestic markets.
Emergent clean energies face an even steeper uphill battle. Geothermal energy, for example, is poised for explosive growth as one of vanishingly few carbon-free energy solutions with broad bipartisan support, but faces a severe talent gap and punishingly low levels of awareness in potential talent pools.
But while the outlook is discouraging, industry insiders argue that it’s too soon to sound the alarms. In fact, a recent report from Utility Drive contends that “solutions to the energy talent gap are hiding in plain sight.”
The article breaks down those solutions into four concrete approaches: building partnerships with educators, formulating Registered Apprenticeship pathways, updating credential requirements to reflect real-world needs, and rethinking stale recruitment strategies.
Targeting strategic alliances with educational institutions is a crucial strategy for creating a skilled workforce, particularly in emerging sectors like geothermal energy.
Businesses can, for example, partner with and sponsor programs at community colleges, creating a pipeline for the next generation of skilled workers. Apprenticeships serve a similar purpose, encouraging hands-on learning outside of the classroom. Such apprenticeships can apply to white collar positions as well as blue collar roles.
“If we can figure out a way to educate the younger generation that you can actually have a career that you can be proud of and help solve a problem the world is facing, but also work in the extractive industry, I think that could go a long way,” said Jeanine Vany, executive vice president of corporate affairs for Canadian geothermal firm Eavor, speaking about the geothermal energy talent gap.
These approaches won’t solve the talent gap overnight – especially as political developments may discourage would-be jobseekers from placing their bets on a career in the renewables sector. But they will go a long way toward mitigating the issue.
“The clean energy transition depends on a workforce that can sustain it,” reports Utility Drive. “To meet the hiring challenges, employers will benefit from looking beyond the next position to fill and working toward a strategic, industry-wide vision for attracting talent.”
By: Haley Zaremba
Continue Reading

Column

Why Oil Prices Could See Significant Upside Shift

Published

on

The 9th OPEC International Seminar was held in Vienna recently, wherein participants discussed energy security, investment, climate change, and energy poverty, with a particular emphasis on balancing these competing priorities.
According to commodity analysts at Standard Chartered, the summit, titled “Charting Pathways Together: The Future of Global Energy”, featured significantly greater engagement from international oil companies and consuming country governments, with discussions converging on a more inclusive shared agenda rather than non-intersecting approaches seen in previous years.
However, StanChart reported there was a clear mismatch between what energy producers vs. market analysts think about spare production capacity.
Unlike Wall Street analysts, who frequently talk about spare capacity of 5-6 million barrels per day (mb/d), speakers from several sectors of the industry noted that spare capacity is both limited and very geographically concentrated.
StanChart believes this erroneous assumption about spare capacity has been a big drag on oil prices, and the implications for the whole forward curve of oil prices could be potentially profound once traders realize that roughly two-thirds of the capacity they thought was available on demand does not actually exist.
This makes the analysts bullish about the general shape of their forecast 2026 price trajectory (Figure 32), i.e., a set of significant upward shifts as opposed to the flat trajectory seen in the market curve and in analyst consensus.
In other words, oil prices could have as much as $15/barrel upside from current levels.
StanChart is not the only oil bull here. Goldman Sachs recently hiked its oil price forecast for H2 2025, saying the market is increasingly shifting its focus from recession fears to potential supply disruptions, low spare capacity, lower oil inventories, especially among OECD countries and production constraints by Russia.
GS has increased its Brent forecast by $5/bbl to $66/bbl, and by $6 for WTI crude to $63/bbl, slightly lower than current levels of $68.34/bbl and 66.24/bbl for Brent and WTI crude, respectively.
However, the Wall Street bank has maintained its 2026 price forecast at $56/bbl for Brent and $52 for WTI, due to “an offset between a boost from higher long-dated prices and a hit from a wider 1.7M bbl/day surplus.’’ Previously, GS had forecast a 1.5M bbl/day surplus for the coming year.
Further, Goldman sees a stronger oil price rebound beyond 2026 due to reduced spare capacity.
EU natural gas inventories have climbed at faster-than-average clip in recent times. According to Gas Infrastructure Europe (GIE) data, Europe’s gas inventories stood at 73.10 billion cubic metres (bcm) on 13 July, good for a 2.31 bcm w/w increase.
Still, the injection rate is not enough to completely fill the continent’s gas stores, with the current clip on track to take inventories to about 97.9 bcm, or 84.3% of storage capacity, at the end of the injection season.
Europe’s gas demand remains fairly lacklustre despite extremely high temperatures across much of the continent in recent weeks.
According to estimates by StanChart, EU gas demand for the first 14 days of July averaged 583 million cubic meters/day, nearly 3% lower from a year ago but a 10% improvement from the June lows.
However, StanChart is bullish on natural gas prices, saying the market is likely underestimating the likelihood of more Russian gas being taken off the markets.
Back in April, U.S. senators Lindsey Graham (Republican) and Richard Blumenthal (Democrat), introduced “Sanctioning Russia Act of 2025”, with the legislation enjoying broad bipartisan support (85 co-sponsors in the Senate out of 100 senators).
In a joint statement on 14 July, the two senators noted that President Trump’s decision to implement 100% secondary tariffs on countries that buy Russian oil and gas if a peace agreement is not reached within 50 days but pledged that they will continue to work on “bipartisan Russia sanctions legislation that would implement up to 500 percent tariffs on countries that buy Russian oil and gas”.
StanChart has predicted that the Trump administration is unlikely to take actions that risk driving oil prices higher. However, Russian gas remains in the crosshairs, with U.S. LNG likely to see a surge in demand if Russian gas exports are curtailed.
StanChart estimates that the EU’s net imports of Russian pipeline gas averaged 79.8 million cubic metres per day (mcm/d) in the first 14 days of July, with all non-transit flows into the EU coming into Bulgaria through the Turkstream pipeline, with Hungary and Slovakia also receiving Turkstream gas.
There was also a flow of about 65 mcm/d of Russian LNG in the first half of July, with Russia providing 18.6% of the EU’s net imports. StanChart has predicted that we could see a strong rally in natural gas prices if Washington slaps Moscow with fresh gas sanctions.
By: Alex Kimani
Continue Reading

Column

Nuclear Stocks Soar on Stargate AI Infrastructure Announcement

Published

on

Over the past couple of years, the nuclear energy sector has enjoyed a renaissance in the U.S. and many western countries, thanks to the global energy crisis triggered by Russia’s war in Ukraine, high power demand and nuclear’s status as a low-carbon energy source.
Uranium demand has soared, thanks to a series of policy “U-turns” with governments from Japan to Germany revising plans to phase out nuclear power.
Uranium spot prices hit an all-time high of $81.32 per pound in February, double the level 12 months prior.
According to the World Nuclear Association, demand from reactors is expected to climb 28% by 2030, and nearly double by 2040. Not surprisingly, the sector’s popular benchmark, VanEck Uranium and Nuclear ETF (NYSEARCA:NLR), recently hit an all-time high.
However, last month, nuclear energy stocks started pulling back sharply, mostly because the sector was seriously overheating. One of the biggest losers was NuScale Power Corp. (NYSE:SMR), with the stock crashing nearly 30% in a matter of weeks.
The selloff kicked off after the company disclosed an agreement with several brokerage firms in which the company may offer and sell from time to time as much as $200M in common stock.
NuScale says proceeds from the sale will be used for general corporate purposes, including operating expenses, capital expenditures, R&D costs and working capital. NuScale is a developer of modular light water reactor nuclear power plants.
Small modular nuclear reactors (SMRs) are advanced nuclear reactors with power capacities that range from 50-300 MW(e) per unit, compared to 700+ MW(e) per unit for traditional nuclear power reactors.
Thankfully, nuclear stocks are on fire again after President Donald Trump on Tuesday announced a $500 billion joint venture with Oracle Corp. (NYSE:ORCL), OpenAI, and SoftBank (OTCPK:SFTBY) to build AI infrastructure in the U.S.
The companies have pledged to commit $100 billion to start, and as much as $500 billion over the next four years toward the initiative, with Trump calling it “largest AI infrastructure project in history”.
OpenAI, ChatGPT maker, said it expects the project, called Stargate, to help support American leadership in AI, and that it could create “hundreds of thousands” of jobs in the U.S. Other tech giants including Nvidia Corp. (NASDAQ:NVDA) Microsoft (NASDAQ:MSFT)) and Arm Holdings (NASDAQ:ARM) are also expected to be technology partners in the project.
NuScale stock has rocketed 1,175% over the past 12 months; Oklo Inc. (NYSE:OKLO), which is backed by OpenAI CEO Sam Altman, has surged 299%, Vistra Corp. (NYSE:VST) has soared 386% while Centrus Energy (NYSE:LEU) has jumped 73% over the timeframe.
Meanwhile, shares of Nano Nuclear Energy (NASDAQ:NNE) have jumped 1,017% since its May 2024 IPO. The shares made further gains on Thursday after the company was awarded patents related to its designs for a modular transportable nuclear generator.
Nano Nuclear is developing ZEUS, a solid core battery reactor, and ODIN, a low-pressure salt coolant reactor.
Yet another big mover is Baltimore, Maryland-based Constellation Energy Corporation (NASDAQ:CEG), a power utility that sells natural gas, energy-related products, and sustainable solutions.
CEG shares have soared 200% over the past 52 weeks. The company owns approximately 33,094 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets.
The big nuclear rally kicked off last year after NuScale signed an agreement with Standard Power to supply the data center provider with SMRs. Standard Power–a developer of modular data centers–will use NuScale Power’s power solutions at two separate sites, where up to 12 SMRs (at each site) would be used to provide power for new data centers.
Suddenly, the market took note of SMRs as a viable solution for data centers struggling to keep up with surging power demands by artificial intelligence (AI) computing.
The International Energy Agency has projected that global data center electricity consumption will jump from 460 terawatt-hours in 2022 to 1,000 terawatt-hours in 2026.
The long-term outlook for the nuclear sector remains bullish, with nuclear power expected to meet surging AI demand and lower greenhouse gas emissions.
According to Goldman Sachs, escalating electricity needs from running AI data centers will generate downstream investment opportunities that will benefit utilities, renewable energy generation, and industrial sectors.
The investment bank has forecast that data center power demand will grow at 15% compound annual growth rate from 2023-2030, with data centers consuming 8% of total U.S. electricity output at the end of the forecast period compared to ~3% currently.
Analysts estimate that ~47 GW of additional power generation capacity will be required to meet the growth in U.S. data center power demand by 2030.
Last year, a total of 34  countries, including the U.S., pledged to increasingly deploy nuclear power to reduce reliance on fossil fuels.
According to the International Energy Agency’s (IEA) report Electricity 2024, nuclear power generation is forecast to reach an all-time high globally in 2025, exceeding the previous record set in 2021 as new reactors begin commercial operations in multiple markets, including China, India, South Korea, and Europe; output from France climbs and several plants in Japan are restarted.
Kimani writes for Oilprice.com
Continue Reading

Trending