Today, Yahoo Finance’s Caroline Valetkevitch clarified some of the
far-reaching impact. Explosions, damage and possible melting of fuel in
reactor cores have thrown nuclear power industry related stocks into a
tail spin—and not only in Japan.
News that Japanese Nuclear Energy officials are pumping in sea water to
cool rods in a last ditch effort is not reassuring to the global
community or the stock market. Perhaps even more disturbing to the
general public is, apparently from whatever damage the earthquake and
tsunami did, Japanese officials are now unable to determine what is
happening inside the core at some of these facilities. In an industry
steeped in instrumentation, measurement and control, flying blind is
confidence shattering.
“The Japan disaster will likely delay the development of any nuclear
power plants in the United States,” says Peter Sorrentino, an investment
portfolio manager. “Nuclear power probably gets extended further into
the future.”
A global economy that is ever opportunistic, however, sees shares of
solar energy-related companies on the rise. How fickle we are.
The disaster extends far beyond nuclear power as well. Damage to
Japanese ports will affect the global supply chain, and Toyota is
suspending production at all Japanese car plants. Economic impact has to
be practically impossible to predict. How Mother Nature can still
exercise such ruthless control of our planet should be a lesson for all.
I will watch with great interest as these cores are brought under
control and dialogue begins about what we could do in the future to be
sure we can maintain monitoring and control, even in the face of natural
disaster. Or, perhaps we will never be able to offer 100% accident free
nuclear energy. Let the debate continue.
More on a look into the “black box” of a nuclear energy plant.