Japan takes steps to secure energy after Middle East conflict drives up oil prices

Japan's government and businesses are rushing to respond to the conflict in the Middle East, which has driven up global oil and fuel prices. The government is taking steps to secure oil-derivatives, and the price spike is causing pain for the country and unsettling its stock market.

Separately, a plan is advancing for Hawaii to import liquefied natural gas from a power plant project in Japan's Niigata prefecture, which involves the utility TEPCO. The broader context is that Japan has spent decades preparing for energy crises, with questions now about whether that preparation is sufficient.