• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 4 hours COVID is real now
  • 2 hours The Quad naval alliance forming.
  • 14 hours The Grey Lady has fallen (further into irrelevancy)
  • 22 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 2 days Where is Alberta, Canada headed?
  • 14 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 16 hours The Boris Yeltsin of America
  • 1 day Is the oil & gas industry on the way out?
  • 2 days Joe Biden offers advice to correct the public health
  • 2 days There Has Been No Trump Manufacturing Boom Even Before Covid
  • 2 days Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"
  • 2 days Why Putin is popular in Russia
Oil At A Crossroads As COVID-19 Infections Surge

Oil At A Crossroads As COVID-19 Infections Surge

Soaring U.S. crude inventories and…

Libya Declares Force Majeure On Oil Exports Again

Libya Declares Force Majeure On Oil Exports Again

Just two days after it lifted the…

TEPCO Doubles Estimate for Fukushima Clean Up to $125 Billion

Tokyo Electric Power Company (TEPCO) has said admitted that the cost of cleaning up after the Fukushima disaster and paying off the compensation claims made may double from the five trillion yen it had estimated back in April, to ten trillion yen ($125 billion).

The company released a statement today that said, “there is a view that we may need the same amount (again) of additional money for the decontamination of low-level radiation areas and costs of temporary facilities for storing waste.”

In April the Japanese government gave TEPCO one trillion yen in exchange for a controlling stake in the company. The money was needed to prevent the company, the largest energy utility in Japan, from going under.

Related Article: Despite Fukushima, China Embraces Nuclear Power

To meet this new figure of ten trillion yen the company would need more support from the government, and that has left TEPCO’s chairman, Kazuhiko Shimokobe, very worried.

“If we address the swelling costs by doubling the amount of government bond issuance our firm will become an entity only for the purpose of dealing with post-accident issues. It will become difficult for us to raise money from the private sector so we will have to rely on the government for the financing of all of our business.”

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Curtis on November 08 2012 said:
    It is somewhat ironic that the costs of dealing with radioactivity which does decline exponentially is countered by the cost of decontamination which seems to be increasing exponentially. All of this in a finite world. HA!

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News