In the latest blow to hopes authorities were gradually getting the plant under control, operator Tokyo Electric Power Co said plutonium was found at low-risk levels in soil samples at the facility.
A by-product of atomic reactions and also used in nuclear bombs, plutonium is highly carcinogenic and one of the most dangerous substances on the planet, experts say.
They believe some of the plutonium may have come from spent fuel rods at Fukushima or damage to reactor No. 3, the only one to use plutonium in its fuel mix.
Japan's Nuclear and Industrial Safety Agency said while the plutonium levels were not harmful to human health, the discovery could mean the reactor's containment mechanism had been breached.
"Plutonium is a substance that's emitted when the temperature is high, and it's also heavy and so does not leak out easily," agency deputy director Hidehiko Nishiyama told a news conference.
"So if plutonium has emerged from the reactor, that tells us something about the damage to the fuel. And if it has breached the original containment system, it underlines the gravity and seriousness of this accident."
Yes, leaking plutonium might be considered grave in some circles. Any wonder then that TEPCO is about to be nationalized as a result of the disaster at Fukushima?
Imposing state ownership on Asia's largest utility is one option Japan is mulling, National Strategy Minister Koichiro Gemba said on Tuesday, as the cost of fixing broken reactors and compensating businesses and households soar.
At the same time, the utility's ability to pay has been hobbled by a fall in generating capacity that is causing rolling blackouts that are expected to last for weeks if not months. TEPCO provides electricity to a third of the Japanese population and usually operates enough capacity to power the whole of Britain.
"I see no other options than nationalizing TEPCO," a fund manager at a major Japanese asset management firm said, declining to be identified because of the sensitivity of the issue. "People are so angry with the company and that anger won't subside if the government just injects money and lets the management stay."
Shareholders will be hurt, but the risk of the company collapsing without government support would be tremendous, he added.
The disaster and prospect of nationalization thumped TEPCO shares, which closed down almost 19 percent at 566 yen on Tuesday -- their lowest since 1964.
Seems like TEPCO is pretty much done at this point, as it should be. There's no way the company is going to be able to pay all the illness claims over the next generation -- and yes, that's how bad this will get, folks -- without folding. Hell, judging from the stock price, the company won't survive another week.
There's a reason why I think the total costs of this disaster will approach the one trillion mark...and that's dollars, not yen. Pretty soon I'm going to start having to append the Legal Stupidity and Criminal Stupidity tags. As it is, we're into Economic Stupidity as far as TEPCO is concerned.
No comments:
Post a Comment