Japan Draws Curtain on Nuclear Energy Following Germany – Bloomberg 09-14-12

Salient to Investors:

Japan is to scrap atomic power by the end of the 2030s but will allow idled reactors to restart during the 27-year wind-down period. Before Fukushima, Japan got almost 30 percent of its electricity from atomic power.

Richard Katz at the Oriental Economist Report said the plan is a desperate election gambit – if most existing plants are restarted and then shut down at age 40, nuclear power would still supply 15 percent of Japan’s electricity as of 2030.

Mark Hibbs at the Carnegie Endowment for International Peace said Japan is revving up using fossil fuel.

Hirofumi Kawachi at Mizuho Investors Securities said the plan is impossible as to eliminate nuclear power by the 2030s will need breakthroughs in renewable and energy-efficient technologies.

Countries including Britain affirmed plans to rely more on atomic power.

Read the full article at http://www.bloomberg.com/news/2012-09-14/japan-draws-curtain-on-nuclear-energy-following-germany.html