Don't you wish you could have bought Atomic Energy of Canada (AECL) from the federal government? Had you been the buyer, you would have pocketed $60 million from the transaction. Sound like a strange deal? It is, but it's the kind of deal that is normal in the weird world of nuclear energy.
SNC-Lavalin, which recently bought AECL from the federal government, put up $15 million for the company and then received $75 million in federal supports for research and development. For that, SNC gets most of AECL's $1.1 billion in assets.... Read more »
In a televised news conference, Mr Kan said the country should harness renewable energy sources.
The 11 March earthquake and tsunami wrecked the Fukushima plant, which continues to leak radioactive material.
A large section of public opinion has turned against nuclear power.
About 30% of Japan's electricity was nuclear generated before the Fukushima crisis, and the country had targeted raising that figure to 53% by 2030.
But Mr Kan had already said this commitment should be scrapped.
On Wednesday, he went a step further, saying: "We will aim at realising a society which can exist without nuclear power."
He said the country should aim to develop alternative energy sources such as solar, wind and biomass.
But he did not lay out a timescale for his plan.... Read more »
Operators of Japan's Fukushima nuclear plant have suspended an operation to clean contaminated water hours after it began due to a rapid rise in radiation.
Some 110,000 tonnes of water have built up during efforts to cool reactors hit by the 11 March earthquake and tsunami.
German Chancellor Angela Merkel has said a decision to phase out nuclear power by 2022 can make her country a trailblazer in renewable energy.
Ms Merkel said Germany would reap economic benefits from the move.
Germany is the biggest industrial power to renounce nuclear energy, in a policy reversal for the governing centre-right coalition.
Mrs Merkel set up a panel to review nuclear power following the crisis at Fukushima in Japan.
The crisis, triggered by an earthquake and tsunami in March, led to mass anti-nuclear protests across Germany.
The anti-nuclear drive boosted Germany's Green party, which took control of the Christian Democrat stronghold of Baden-Wuerttemberg, in late March.
Analysts say Mrs Merkel may be eyeing a future coalition with the Greens.
... Read more »
TOKYO — In a belated acknowledgment of the severity of Japan’s nuclear disaster, the Tokyo Electric Power Company said Tuesday that three of the stricken Fukushima Daiichi plant’s reactors most likely suffered fuel meltdowns in the early days of the crisis.
The plant’s operator also said that it was possible that the pressure vessels in the three stricken reactors, which house the uranium fuel rods, had been breached as well. But most of the fuel remained inside the vessels, the company said — far from a more severe nuclear meltdown in which molten fuel penetrates the ground, a calamity known as the “China Syndrome.”
Also on Tuesday, a team from the International Atomic Energy Agency, the nuclear oversight body of the United Nations, began an investigation into Japan’s handling of the accident, amid criticism that a slow response made matters worse.... Read more »