The always-truthful and ever-trustworthy Tokyo Electric Power Co. has released a statement that says "Typhoon Man-Yi caused no major damage at Fukushima." That's great news - if it's true - but the follow-up to that is perhaps a little more concerning. As Kyodo News reports, TEPCO has released the excess rainwater, that has collected between the barriers around radioactive storage tanks, into the ocean. We are reassured though, as officials stated that the level of radioactive substances in the accumulated rainwater was below allowable limits at 30 becquerels per liter (except The Tokyo Times reports some was emitting 170,000 becquerals per liter). All good then...
Oh, and a Typhoon Is about to Hit Fukushima
A month ago, when we quoted an independent expert that "TEPCO has lost control of Fukushima" many took offense, despite all signs to the contrary. Perhaps the skeptics will reevaluate their position following today's news reported by AFP, which cited Kazuhiko Yamashita, who holds the executive-level title of "fellow" at Tokyo Electric Power, who finally admitted what those not mired in prejudice about the state of nuclear energy refuse to accept, that the nuclear plant was "not under control." This promptly led to the government, which last weekend learned it would host the 2020 Olympics and promised that Fukushima would not be a concern by then, to scramble and "reassure people on Friday that they have a lid on Fukushima." Unfortunately, the lies, like the radiation in the plant, are now finally seeping through and more are becoming fully aware of just how serious the catastrophe truly is, and drove yet another steak through the heart of the official narrative by Prime Minister Abe as they "flatly contradict" his assurances.
As if the "developed" world did not have enough things to worry about, moments ago VOA's Steve Herman reported that the radioactive problem in Japan, the country hosting the 2020 summer olympics, continues to deteriorate uncontrollably, and citing Jiji, said that Tepco revealed tritium levels in the Fukushima groundwater have just surged to a new high.
Japan commissioned the country's first nuclear power plant in 1966 and nuclear power has been a staple of the country's energy strategy since the 1970s. But when the last active reactor at the Ohi plant shuts down for scheduled maintenance on Sept. 15, Japan will be without nuclear power for the first time since May 2012.
First it was "contained." Then we found out there was a "small leak." Then, after numerous media reports confirmed it, Japan admitted there was "a big leak," which only became bigger with time. Then the severity level of Fukushima was raised from level 1 to level 3, the highest since the March 2011 disaster. And now it is many leaks. According to AP, "Japan's top nuclear regulator raised safety concerns Monday about hastily built storage tanks and their foundations at the damaged Fukushima Dai-Ichi power plant after signs of new leaks of radioactive water. The latest leak was found over the weekend in a connecting pipe. The plant's operator, Tokyo Electric Power Co., said it suspects there may also have been leaks from three storage tanks because elevated radioactivity was detected near them. The levels were not considered deadly." Oh so it was not the 1.8 sieverts/hour reported over the weekend? Maybe in the case the honorable Prime Minister can take a big swig from the supposedly undeadly water.
- Tables turn: Syria asks the United Nations to stop U.S. strike (Reuters)
- More tables: Putin sees chance to turn tables on Obama at G20 (Reuters)
- Obama’s Decision Stirs Doubts About America’s Resolve (BBG)
- Kerry says US tests prove sarin used in Syria attacks (FT) - is this based on more YouTube or Vine this time?
- Italy Coalition Reels as Berlusconi Threatens to Sink Letta (BBG)
- Steinbrueck’s Jabs Fail to Knock Out Merkel in Election Debate (BBG)
- India's crisis within a crisis; finance minister fights on two fronts (Reuters)
- Ikea signals slower expansion (FT)
- US spied on Brazil, Mexico presidents (AFP) - since it spies on its people, is this a surprise?
- What's the Difference Between U.S., Chinese Corruption? (BBG)
- First Strut Default Jolts High-Yield Market: South Africa Credit (BBG)
- Vodafone, Verizon Agree on $130 Billion Deal (BBG)
— Steve Herman (@W7VOA) August 31, 2013
Remember that recently announced leak at Fukushima (which we first noted nearly a month ago), which Tepco promised was nothing really, only to subsequently admit 300 tons of radioactive water was seeping out of the destroyed nuclear power plant daily into the ocean (and everywhere else), a leak which subsequently was raised from a stage 1 to stage 3 in radioactive severity, and that it had for all intents and purposes lost control of the containment process, oh and, by the way, it would no longer lie about how severe the situation truly was? Well, turns out it lied. As Businessweek reports, "the leak at a contaminated water storage tank discovered last week at the Fukushima plant may have continued since last month before it was detected and the tank drained, plant operator Tokyo Electric Power Co. said.
It was a quiet overnight session, in which the Nikkei was catching up to USDJPY weakness from the past two days, while China dipped once more despite the NDRC's chief economist stating China may cut RRR or conduct more reverse repos in H2 to maintain stable credit as loan growth slows down (or in other words things go back to normal). In Europe ECB's Nowotny decided to undo some of Draghi's recent work when he said that "good economic news" removes the need for a rate cut which in turn pushed the EURUSD higher (and European exports lower), even as former Cyprus central bank Orphanides said the Euro crisis may flare up after the German elections. In the UK Q2 GDP came in slightly stronger than expected at 0.7% vs 0.6% Exp. letting the GBP outperform since a need for the BOE to ease, at least in the short run, is becoming less pertinent. In amusing news, Moody’s late yesterday put six largest U.S. banks on review as it considers the effect of evolving bank resolution policies under Dodd-Frank and international regulations. As such GS, JPM, MS and WFC may be cut.
After a self-imposed gag order by the mainstream media on any coverage of the Fukushima disaster (ostensibly the last thing the irradiated Japanese citizens needed is reading beyond the lies of their benevolent government, and TEPCO, and finding out just how bad the reality is especially since the key driver behind Abenomics is a return in confidence at all costs), the biggest nuclear catastrophe in history is once again receiving the attention it deserves. This follows the recent admission by TEPCO of the biggest leak reported at Fukushima to date, which forced the Japanese government to raise the assessment of Fukushima from Level 1 to Level 3, even though this is merely the catalyst of what has been a long and drawn out process in which Tepco has tried everything it could to contain the fallout from the exploded NPP, and failed. And today, in a startling and realistic assessment of Fukushima two and a half years after the explosion, the WSJ finally tells the truth: "Tepco Has Lost Control."
If You Don't Buy Global Warming, Great ... Use This Info to Talk to Your Friends Who Do
Nuclear power accounts for 5.7% of the world’s energy and 13% of the world’s electricity. Uranium, used in nuclear power, is a relatively clean source of energy that does not produce greenhouse emissions. Uranium is extremely dense – it is nearly as heavy as gold. It is, however, about 500 times more common than gold in the earth’s crust. This infographic covers the history of uranium, its properties, the supply and demand forecasts, the advantages and disadvantages of nuclear power, uranium as an energy source, and military applications.