Britain's climate policies can help shield the economy from oil and gas price shocks triggered by external factors such as the Arab Spring, an analysis commissioned by the government showed on Friday.

Energy price spikes can often dent economic growth, business investment and employment, as witnessed during the global financial crisis in mid-2008 when oil rose to nearly $150 (95 pounds) per barrel, research group Oxford Economics said in a report.

The city-based Indian Institute of Chemical Technology (IICT) has been selected to be a part of a three-member consortia to conduct research in advanced biofuels and solar energy. The purpose: to reduce our heavy reliance on fossil fuels.

This Indo-US Joint Clean Energy Research Centre is a result of the Manmohan Singh-Barack Obama meet on ‘US India Partnership to Advance Clean Energy’ in November 2011.

Royal Dutch Shell Plc and Iogen Corp have scrapped plans for a commercial-scale biofuel plant in Manitoba, spelling the loss of 150 jobs and raising questions about widespread and near-term use of fuel made from agricultural waste in Canada.

The Iogen Energy joint venture had been studying building a plant to make ethanol from straw and other plant waste, rather than from food crops such as corn and sugar. One location discussed was Portage la Prairie, west of Winnipeg, Manitoba.

Twenty companies, including Archer-Daniels-Midland Co and Cargill Inc, have been cleared to produce the new ethanol grade called E15, a significant step toward putting the higher blend biofuel on sale, the government announced on Monday.

Most fuel sold at filling stations is a 9-to-1 blend of gasoline and corn-based ethanol. The ethanol industry proposed E15, a 15 percent blend, three years ago.