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Japan is calling on Americans and businesses to repeat this winter’s summer savings crusade as energy shortages and LNG value inflation continue to wreak havoc.
Japanese citizens are asked to turn off lighting fixtures in rooms they don’t wear and wear an extra layer of clothing to keep warm, Bloomberg reports, citing Japanese Commerce Minister Yasutoshi Nishimura.
Japan is incredibly deficient in herbal resources, forcing it to import almost all of its energy. What’s uncomfortable right now is that Russia is one of its biggest energy suppliers and there’s no way Japan is going to cut off all oil and fuel imports. of its western neighbor, despite being a member of the G7. As a member of the G7, Japan supported the group’s cap plan and formally banned imports of Russian oil.
Indeed, this week, the FT published an interview with Japan’s Itochu lead executive, in which he said that “unlike Europe or the U. S. Russia because of sanctions.
As a source of safe force, the Japanese government last month even amended the national fuel law so that public agencies can only procure LNG in case personal buyers could not guarantee sufficient volumes. The Ministry of Commerce will also have the strength to order fuel relief for giant corporations experiencing shortages of sources.
By Irina Slav for Oilprice. com
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