Frontrunning: May 16

Tyler Durden's picture

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Commander Cody's picture

Eventually, TEPCO will finally release what they have known all along - all three operating reactors (Units 1-3) at the time of the earthquake/tsunami have melted down completely.  The plants were not designed to cope without any power for more than a few hours.  After that, with no cooling or makeup water, the cores became uncovered and melted.  Its called - core on the floor.

SheepDog-One's picture

Not only that, but Japan has shut down other reactors now, in anticipation of another 9.0 earthquake.

Jim in MN's picture

Also this morning, the newly-shutdown Hamaoka plant was found to have an undetected seawater contamination in its cooling system which can cause corrosion and failure.  Looks like quake damage to the pipes.

Seawater found in coolant at Hamaoka plant

At the Hamaoka nuclear power plant in central Japan, seawater has been found in coolant at one reactor.

Five nuclear reactors at the Hamaoka plant in Omaezaki City, Shizuoka Prefecture, were all shut down on Saturday due to concern that a massive earthquake might hit the area. The move was in line with a request by Prime Minister Naoto Kan.

In the course of shutdown, plant operator Chubu Electric Power Company found impure substances in coolant water at the No.5 reactor.

The company reports damage to a pipe connected to a condenser, a system that turns the steam generated by a nuclear reactor to water through the use of seawater.
Chubu Electric Power Company says 400 tons of seawater may be mixed into the cooling water that goes through the reactor.

It says 400 tons would not severely affect the reactor, and that no radioactive substances were detected outside the building.

But in order to prevent the reactor being eroded by seawater, the operator will take measures to remove salt from the cooling water.

Monday, May 16, 2011 05:31 +0900 (JST)

Careless Whisper's picture

Gas .20 per gallon in Oregon. For real. There is a catch -- you gotta pay with pre 1964 coins.


buzzsaw99's picture

from the reuters piece:


If the great commodity selloff of 2011 shows nothing else, it is that markets are undergoing serious structural changes that need to be followed closely...


The great commodity selloff? Egad, does anyone have a shed of credibility? Holy farking sheet! Oil at $98, gold at $1500, and they are calling it the great selloff? HAHAHAHAHAHAHAHAHA! gASP! HAHAHAHAHAHAHAHAHA!

SheepDog-One's picture

Its just surreal, living in a Dali painting would look sane compared to all this. There is now a '2011 Great Commodity Selloff' event in the history books with oil, gold, and silver all near all time highs? 

It must be SO bad behind the curtain for them to be pumping out this level of disinformation to the public.

buzzsaw99's picture

They desperately need to sell the "no inflation" mantra to the public while they keep stealing.

monopoly's picture

Now, since they are bailing from the idiot channel, we have Cramer on before breakfast on the West Coast. This is more than I can handle, even pre-market. TV OFF>


SheepDog-One's picture

World on fire and devolving quickly into WW3 all-out....good news, ensures the Maniacal Monetizers will keep printing. Wow this is going to be the biggest mass heroin addict cold-turkey ever, brutal.

agent default's picture

Not a heroin addict. More like an alcoholic going cold turkey. Heroin withdrawal may be painful, but alcohol withdrawal can be deadly.  And alcohol is legal.  Just like compounding debt.(And money printing)

Arch Duke Ferdinand's picture

Five Reasons Why Canada's Four Western Provinces is the Safest Quadrant on this Planet...

7 Reasons Food Shortages Will Become a Global Crisis...

Moe Howard's picture

Yesterday, I had to pay $4.0999 for a gallon of gas, yet the crude price has been dropping.

Winning the future, or what?

stormsailor's picture

and the /es goes green, hooray.