Japan homeowners swapping oil for electricity

A rush by Japanese homeowners to convert their houses to run solely on electricity has put them in the vanguard of efforts to cut back on oil use, but also risks driving up coal and gas imports if nuclear generators falter.

“Over the next 10 years, Japanese oil demand will lose 1 million barrels per day,” Fereidun Fesharaki, Chairman and CEO of consultants FACTS Global Energy, said recently. “The losses in Japan are probably bigger than the gains in India.”

reuters