The taxpayer fronts the whole rescue.
Anyone notice a writedown of existing shareholder valuations (more than just the market punishment, I mean)? Nope, me neither.
Moreover, residential power consumers are about to get hit with a 10%+ rate increase (or more, if no TEPCO nuclear generators are allowed back on line).
Anyone see a massive rush of orders for Natural Gas-fired generating facilities yet? Nope, me neither.
Somebody needs to go through Nagata-chou (the seat of the Japanese government bureaucracy) with
2 comments:
This I can hardly believe. I can understand (but not agree with) the reflexive act of shutting down all nuclear power. I cannot understand the failure to at least try to replace that capacity.
Won't this lead directly to a huge migration of remaining industry to other countries?
@Will
That is the entirely justified fear, yes.
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