Once the Fukushima nuclear plant is stable, the government should temporarily nationalise its operator
Nov 5th 2011 | from the print edition
“THIS is a war between humans and technology. While that war is being fought, we should not talk about bankruptcy.” So says a Japanese official responsible for channelling the first tranche of ¥5 trillion ($64 billion) in government support to Tokyo Electric Power (Tepco) following the meltdown of its three reactors at Fukushima Dai-ichi nuclear power plant after the tsunami on March 11th.
The support has two valid aims. It helps pay compensation to the 89,000 people forced to abandon their homes within a 20km (12.5-mile) radius of the plant: in the twilight zone only farm animals and the odd feral ostrich roam the streets (see article). It also spares Tepco the chaos of insolvency as it races towards a year-end deadline for Fukushima’s full shutdown.
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