Sunday, March 13, 2011

Japan and results of the largest earthquake in the country's recorded history


The earthquake and resulting tsunami has devastated Japan and is the largest in the country’s recorded history. There are billions of dollars worth of damage caused and will take years to recover but there is even more danger looming in the horizon. There are tens of thousands of people homeless without food and water and the situation in Japan is quickly becoming worse. The resulting destruction may also be the catalyst for an even greater catastrophe, if the country’s nuclear plants are unable to cool their reactors. According to the World Nuclear Association, Japan’s 54 reactors provide approximately 30% of the country's electricity. Nuclear scientist all over the world are coming together to try to solve this problem as well as different governments.  There has been one explosion so far and people have been reassured that the amount of radioactive particles released in the air is small. The plants were built to keep any radioactive material trapped within even if the reactors melted (let’s hope that it works) but the explosion happened at the oldest nuclear plant. We all know the dangers involved if the reactors are not cooled and the country will not be the only ones to suffer if the unthinkable happens.
According to NPR (after listening to Car Talk-love it), the country’s debt is approximately twice the size of its GDP but unlike countries like the US for example, Japan’s debt is held by Japanese. The country is also one of the richest in Asia with savings rate much higher than that of the US and a culture steeped in honor, sacrifice and seeing things to the end. This means that although their recovery will be difficult, the people are resilient and the country has a fighting chance.
Give strength to the survivors and may the souls of the dead rest in peace.

Do you think the benefits of Nuclear power is worth the risk?

1 comment:

  1. I have never been a proponent of nuclear power. It will be interesting to see how the nuclear power industry responds (in terms of marketing) in the aftermath of the crisis in Japan. What will their 4 P's look like?

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