Fukushima Reactors Still Not Controlled – Now the Japanese government bails out TepCo

Really this whole situation is absurd. TepCo claims that the plants are still behaving weirdly, that it could be 10 years before they can start to tear the reactors apart and 20 years before it will be resolved. Yet the Japanese government gives them 11 billion $$$. What?


November 2011 Last updated at 02:30 ET

Japan nuclear crisis: Xenon detected at Fukushima plant

By Roland Buerk BBC News, Tokyo

A radioactive gas has been detected at Japan’s crippled Fukushima nuclear plant, the facility’s operator says.

Tepco said xenon had been found in reactor two, which was previously thought to be near a stable shutdown.

There has been no increase in temperature or pressure, but the discovery may indicate a problem with the reactor


And Yet:


Japan Starts Tepco Bailout as Fukushima Causes More Losses

November 04, 2011, 7:32 AM EDT

By Tsuyoshi Inajima and Yuji Okada

(Updates with comment from company in 13th paragraph.)

Nov. 4 (Bloomberg) — Tokyo Electric Power Co. won approval for a 900 billion yen ($11.5 billion) bailout from the government after the Fukushima nuclear catastrophe to avert bankruptcy and start paying compensation for the crisis.

Trade and Industry Minister Yukio Edano approved the support after the company known as Tepco committed to cutting 7,400 jobs and 2.5 trillion yen in costs. The utility forecast an annual loss of 600 billion yen, its second since the March earthquake and tsunami wrecked its Fukushima nuclear plant.

The government of Prime Minister Yoshihiko Noda is stepping in to ensure residents, farmers, fishermen and forestry businesses are properly compensated by a utility that supplies power to 29 million customers in the political and economic heart of Japan. Tepco may need more aid after March 2013, said Takashi Aoki, who helps manage 120 billion yen at Tokyo-based Mizuho Asset Management Co.


Read both articles or until you get sick. Which ever comes first. More next week.


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