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.
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.
TOKYO — Power was restored Friday to a cooling system at a tsunami-damaged nuclear plant in Japan that failed for the second time in a month after an outage caused by construction work to keep out rats suspected of setting off the earlier blackout.
Power for the cooling system for a storage pool for fuel was restored after a two-hour break at reactor No. 3, and there was no immediate danger from the breakdown, according to Tokyo Electric Power Co., the utility that operates Fukushima Dai-ichi in northeastern Japan.