$17.6 billion — better for Tohoku or better for US government?

The Treasury Department says Japan, the second-largest foreign holder, boosted its holdings by $17.6 billion to $907.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to scale back its purchases so it could use the money for reconstruction.

via Japan purchased US debt in March despite crisis – BusinessWeek.

Japan is struck by an earthquake and tsunami doing devastating damage. A nuclear crisis ensues …

What’s the concern in America? Oh no! What if they stop buying US bonds.

Phew, they still managed to buy some — $17.6 billion worth.

This is a very strange situation, I think.

Do you think this money should have been used to buy US bonds? Or should Japan have taken this money and invested it in Earthquake recovery?

Posted in economics, Great East Japan Earthquake, Japan, United States | Comments Off

Japan risks nuclear disaster for consumer convenience – CSMonitor.com

The ultimate solution to relying on foolish technology is to rein in our energy consumption. Regrettably, humans appear to be foolish and greedy beings. However, if we are to hand our living Earth over to our children and grandchildren, we have to know when “enough is enough.” There is no doubt it would require an arduous discipline to let go of our luxurious lifestyle and change the spendthrift habits of our society. However, if that is the only way to ensure a sustainable and peaceful future, then we as a species must acquire a bit of wisdom. Let us pause and seriously ask ourselves how much energy we really need in our day-to-day lives, and work immediately on reforming our energy-wasting world.

The best course for Japan is to abolish all nuclear power stations at once. It is a mystery to me how people don’t realize this after witnessing the tragedy of the Fukushima accident.

via Japan risks nuclear disaster for consumer convenience – CSMonitor.com.

Hiroaki Koide is probably a good critic of the nuclear industry in pointing out dangers perhaps possessed by weaknesses in design, but here he seems to be making a serious mistake. Nuclear power is currently more expensive than using other fuels. See the Wikipedia entry on this.

So if people were greedy, wouldn’t it have been more sensible to use other forms of fuel to produce energy?

The argument about greed tends to lend itself to the notion that the free market doesn’t work. But here the free market was not what resulted in the use of nuclear power, instead it was specific policy decisions that pushed things in this direction. So shouldn’t that policy be criticized?

In general, the free market is governed by laws which in turn are based on the notion of rights. The idea is to have the correct set of rules such that self-interest helps to work in the interest of everyone.

Adam Smith put it this way, “By directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for the society that it was no part of it. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.”

In this case, the difficult part might be setting up rules so that nuclear plant owners can be made fully accountable for damages they do via accidents. If they were fully accountable, in my opinion, it’s unlikely we’d be using nuclear fuel to generate energy on the scale it is used today. The technology does not appear to be safe enough yet. At least in light of the current problems in Fukushima. (Of course, even here, many assure us there will be no increase in cancer anywhere in Japan, but I am quite skeptical of this.)

What do you think, is the major problem facing modern Japan greed?

Posted in economics, Japan, nuclear power | 1 Comment

Japan Stumbles Toward Honest Socialism – WSJ.com

… what is new is that at long last a public debate is breaking out over exactly what form the socialization of a corporate risk like Tepco should take. This is happening largely by accident. The Democratic Party of Japan government of Prime Minister Naoto Kan seems incapable of the decisive back-room dealing that was long the norm in such cases. The DPJ appears genuinely confused about what it wants to do and is conducting its “internal” debate in front of the cameras in dueling press conferences and interviews. This is encouraging other interested parties, such as the banks, to weigh in.

If Tokyo isn’t going to do the right thing by letting Tepco go bankrupt, at least it is doing the wrong thing in the right way, reaching consensus in full public view, with ample debate. Taxpayers shouldn’t get their hopes up that they’ll escape from this mess unscathed. But at least now they’ll have some idea whom to blame.

via Review & Outlook: Japan Stumbles Toward Honest Socialism – WSJ.com

It’s been argued also that prime minister Kan did not build up any consensus before he decided to close Hamaoka as well.

Is that Japanese government under the DPJ actually being acting in a more transparent manner? Will this continue and does it bode well fore Japan?

Posted in Japan, politics | Tagged | Comments Off

Scientists Will Track Fukushima Radiation To Study Ocean Currents – Forbes

Oceanographers know that the Kuroshio current sweeps west from Japan to the Central Pacific and then toward the U.S. West Coast, but they’re less certain how it behaves after it branches toward Alaska and California.

Radiation still leaking into the sea from the damaged Fukushima nuclear power plant will help them document the ocean’s circulatory system.

“By the time that current reaches the Central Pacific, there are branches heading more towards Alaska and the South—that gets harder to predict,” said Ken Buesseler, a senior scientist with the Woods Hole Oceanographic Institute.

“But that’s one of the things that several people hope to do by measuring these isotopes even at levels when they’re not harmful. We could actually track those ocean currents and better understand the circulation pattern in the Pacific.”  [Link].

The main idea here is that these radioactive particles act like markers so that those studying these currents can follow where they go. This will allow the researchers to test a lot of theories they currently have about currents. So at least some good may come from having leaked and dumped long lived radioactive isotopes into the ocean.

Are there other benefits that might result as well?

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Japanese Officials Ignored or Concealed Dangers – NYTimes.com

The nuclear power plant, lawyers argued, could not withstand the kind of major earthquake that new seismic research now suggested was likely.

If such a quake struck, electrical power could fail, along with backup generators, crippling the cooling system, the lawyers predicted. The reactors would then suffer a meltdown and start spewing radiation into the air and sea. Tens of thousands in the area would be forced to flee.

Although the predictions sound eerily like the sequence of events at the Fukushima Daiichi plant following the March 11 earthquake and tsunami, the lawsuit was filed nearly a decade ago to shut down another plant, long considered the most dangerous in Japan — the Hamaoka station.

It was one of several quixotic legal battles waged — and lost — in a long and largely futile attempt to improve nuclear safety and force Japan’s power companies, nuclear regulators, and courts to confront the dangers posed by earthquakes and tsunamis on some of the world’s most seismically active ground.

The lawsuits reveal a disturbing pattern in which operators underestimated or hid seismic dangers to avoid costly upgrades and keep operating. And the fact that virtually all these suits lost reinforces the widespread belief in Japan that a culture of collusion supporting nuclear power, including the government, nuclear regulators and plant operators, extends to the courts as well. [Link].

This article is making the following claims:

1. The Japanese nuclear industry is not properly regulated for safety.
2. The Japanese nuclear industry is rife with deception.
3. Japanese has a culture of collusion which fosters these practices.

What do you think about these claims?

My own opinion is that to a degree the problem of collusion exists, but that this is not unique to Japan.

Posted in customs and culture, economics, Fukushima reactors, Japan news | Comments Off

asahi.com:EDITORIAL: TEPCO desperately needs a plan B – English

Under TEPCOs blueprint for bringing the crisis under control, the principal means to cool the reactors to a cold shutdown state is flooding the fuel with water. Engineers involved in responding to the disaster considered other approaches but did not develop specific plans quickly enough. TEPCO has therefore gone ahead with the flooding plan. New discoveries demanding a rethink of the plan have caused deep disappointment and distrust of the operator in foreign countries, in Japan and in the local communities most directly affected by the crisis. The company should be offering more than one scenario in its new game plan. It should have a “plan B” to resort to immediately if “plan A” falls apart, and the firm should talk candidly about what it would do in a worst-case scenario. Whatever approach is adopted, it is clear that efforts to cool the fuel at the bottom of the pressure vessel will continue for years.  [link]

Do you think TEPCO is doing enough to plan for contingencies? Is the Japanese government treating the situation seriously enough?

Posted in Fukushima reactors, Japan news | Comments Off

What’s up with Kan telling Chubu Electric what to do?

Prime Minister Kan, who announced the decision at a hastily called news conference Friday, acknowledged that the government’s request for the utility to suspend the plant’s reactors lacks any legal basis.


According to a government source, the prime minister decided to suspend Hamaoka and then had other Cabinet members, such as Economy, Trade and Industry Minister Banri Kaieda, accept the decision. The industry ministry oversees the nuclear power industry.


The news caused a sensation at Chubu Electric’s head office in Nagoya city. “It was totally unexpected. It came out of the blue,” a public relations official said of the government’s request to suspend Nos. 4 and 5 reactors that are currently operating. [Link]

It’s very hard to know what’s happening here. There look to be two significant elements here:

  • There was no consensus here. Getting a consensus sounds really good, and it sounds very democratic. However, if you consider group dynamics and the number of interest involved here, the type of solutions you end up with are usually quite vague and murky — and worse — as there is a consensus, it’s not clear who is responsible for the solution. You don’t get clear cut, efficient solutions, and it’s not clear where responsibility for the solution lies. Okay but …
  • Kan has no legal authority here. So how can he really expect a lot of success here without a consensus.

Prime minister Kan is really going out on a limb on this one. I certainly expect that after dragging its heels Chubu Electric Power will comply. They are currently reviewing the process necessary to shut down the plant ahead of the summer heat. For example, chairman Toshio Mita has already flown to Qatar to see if he can procure liquefied natural gas, and another meeting might be held on Monday to discuss the subject among board members.

But there are many questions that remain. Just some examples:

  • Why is prime minister Kan going out on a limb here? Does he really believe the plant represents a danger?
  • Is this going to weaken Kan politically or somehow help him?
  • If the plant lies on a fault line, will merely improving its defenses against a tsunami really make the plant safe? Read what ex-skf says about this.
  • Can earthquakes really be predicted? Some say no. Certainly the Hamaoka plant is a concern given its location at the heart of Honshu, and as it lies on a major fault, but how safe is any nuclear plant in Japan?
  • So how will this affect METI’s strategic plans for nuclear energy in the future? Will nuclear power be called into question?
Posted in Fukushima reactors, Japan news | Comments Off

Japan Watching Yen; No Intervention Threats Yet – WSJ.com

He added Japan wouldn’t take action unless the benchmark Nikkei stock average were to fall below 9,000 or the dollar were to dip below Y75. The Nikkei closed down 145.00 points on Friday at 9859.20.

Full article here: Japan Watching Yen; No Intervention Threats Yet – WSJ.com.

The yen has mostly been strong against the dollar, not necessarily other currencies. I guess at this point a dollar worth between 76 to 79 yen is no longer unrealistic. It will be interesting to see what happens.

Posted in business news, economics, Japan news | Comments Off

Japan radiation monitoring goes crowd, open source | Crave – CNET

A new open and crowdsourced initiative to deploy more geiger counters all over Japan looks to be a go. Safecast, formerly RDTN.org, recently met and exceeded its $33,000 fund-raising goal on Kickstarter, which should help Safecast send between 100 and 600 geiger counters to the catastrophe-struck country.

The data captured from the geiger counters will be fed into Safecast.org, which aggregates radiation readings from government, nonprofit, and other sources, as well as into Pachube, a global open-source network of sensors.

Safecast is one of the larger crowdsourced monitoring efforts, not unlike a similar effort in the United States that predated the Japanese disaster. Safecast plans to deploy hundreds of geiger counters in Japan.

For the last month, the Safecast crew and volunteers have been collaborating with universities in Japan and driving their geiger counters around the country and taking measurements. Safecasts early monitoring trips north of Tokyo returned some disturbing findings, including elevated radiation levels in a kindergarten classroom. [Link]

Hm. What’s this about elevated radiation levels in a Tokyo kindergarten?

Anyway, if this works that would be good because I know of no current government source or any other private source of information that offers simultaneous measurements of radiation.

The 30 year old, 12.8 billion yen SPEEDI when it’s occasionally working does give fairly up to date information. But only in a very limited area.

The government’s latest readings seem to be organized here … or if you’d like a more graphical interface, then here. But this information seems to be consistently about a day or so late. It’s never simultaneous.

So, for example, say something happened at Fukushima Daiichi, and they decided to vent one of the reactors … then someone like NILU projected that radiation in your area would be increasing. You’d have no way to know whether this was happening or not unless you yourself possessed some fairly expensive and sophisticated equipment.

However, if Safecast accomplishes its goal, people in affected areas should be able to get some fairly good up to date information … at a cost much less than probably what the government pays for their information.

Posted in Fukushima reactors, Japan news | Comments Off

asahi.com:Fewer workers willing to brave radiation risk at crippled Fukushima plant

As critical repairs continue at the crippled Fukushima No. 1 nuclear power plant, its operator is finding it difficult to find people willing to work at the plant.

The tally of workers at the plant as of May 3 was 1,312 people. Many of them are employed by subcontractors hired by operator Tokyo Electric Power Co. [Link]

This is a big concern. Note also that as more and more people who get passed a certain exposure level to radiation, the less people who will be able to work at other nuclear power plants. The entire industry could eventually face a shortage of workers. So there needs to be some plan in place to increase the number of workers in some way … currently, I’m pretty sure there is not.

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