Japan to Compensate Oil Importers for High Shipping Costs

The Japanese government on Tuesday approved three bills to boost diversification of oil supplies and energy security, including grants to compensate Japan’s oil importers for the high shipping costs to procure supply from alternative sources.      The bills will now be introduced for debate at the Japanese Parliament.  The legislation is aimed at improving “supply security by diversifying sources of crude oil and other fossil fuels and reducing related risks,” Japan’s Industry ‌Minister…