As Japan's infatuation with the great nominal stock market experiment continues, the government wishes nothing more than to put the great Fukushima nuclear disaster in the past, so it can restart its nuclear power plants: the critical, decisive factor if Abenomics has any chance of succeeding, as the country's economy will never recover if it has to rely on foreign sources of energy. Alas, for the time being this looks improbable and following the latest news out of Fukushima, it may be downright impossible.
By Pallava Bagla NEW DELHI: The nuclear leak at the Kakrapar Atomic Power Station (KAPS) continues unabated more than a week later at the indigenously made 220-megawatt nuclear reactor in southern Gujarat. Despite best efforts, it continues to leak a mixture of light and heavy water. The exact cause of the leak also remains a mystery. India has another 17 reactors of the same Pressurized Heavy Water Reactor (PHWR) type that continue to operate and the big question is should the entire fleet be grounded until the mystery of the leak is fully resolved?
Japan, the third largest economy in the world, has relied on nuclear energy to provide 30% of its energy for four decades, but this weekend it became the first major, modern economy to operate without nuclear power.On Saturday the Tomari Nuclear Power Plant’s reactor 3 shut down, leaving Japan’s energy grid completely nuclear free.Junichi Sato of Greenpeace in Japan said that, “there is an increased chance of earthquakes in Japan, so that has a significant risk to the Japanese people and the Japanese economy.