At this price I just couldn't pass up adding some. Also added some CIM and C (stocking up on C in my Roth) and a chunk of GABUX (Gabelli Utilities) for my wife's IRA (she likes the security of the monotonous .07 cents a month dividend that GABUX has been paying for years and is now yielding about 13.3%).
However, I look to the market dropping more over the next week or so. The situation in Japan is really destabilizing the global economy and making for a volatile market.
Looks like a serious design error then, don't you think Alf?
I know that you can't plan for every contingency, but it seems like this one should have been pretty obvious. What if we get an earthquake and a resultant tsunami and loss power and have building damage? What will happen to our spent fuel in the cooling ponds?
Well... you don't put them on a roof!
"... the greater danger now could be in the spent fuel cooling pools...".
It seems that large pools were put on the roofs of some of these reactor buildings. The US Nuclear Regulatory Agency is now saying those pools, after being damaged by the earthquake, are near empty. If this is true, disaster. The rods will continue to genrate heat. When the temperature gets high enough there will be a chemical explosion. This could toss into the air all the radioactive material in the spent fuel rods. This is just as bad as having an uncovered reactor. I hope they get it under control. But, I don't know how they are going to do this. I have a Ph.D. in Chemical engineering with some experience with the Nuclear reactors at Hanford. alf
fred...I agree with everything you are saying, however, when the rods are not covered with water there is also a release of gamma rays (they are like a super charged x-rays) that are also very deadly...radiation can also get into the ground water tables...! If there is a total meltdown the temperature will reach over 5,000 degrees (which will melt steel or almost anything)...water will not help...! The U.S. government has told people to get at least 50 miles away from the nuclear plants (12 miles is to close)...! People on the west coast of the U.S. are already buying iodine pills, what makes people think that radiation will stop at the west coast...? People are already staying off the streets in Tokyo (over 100 miles away). Every worker working on the problem at the nuclear plants at this time will die (that is a fact)...! The smart money already knows how bad the problem is and that is why the markets are still falling. Fred, nothing will stop the very long term damage from a total meltdown (the steel containment structure will not contain a total meltdown if it happens)....! I feel so sorry for all of those poor people...this is a black day for Japan...! Doesn't anybody think it is strange that on the news they never address what happens if there is a total meltdown...? There are 104 nuclear power plants in the U.S. and 23 of them are built the same as the ones in Japan...!
Fred, it's more than Japan now. There is a clamor in the EU countries for an audit of all the nuclear power stations some of which are as old as those in Japan. There seems to be no good alternative to nuclear power but the people want to know what is going on in those plants since any one of them could endanger the whole of Europe and possibly other continent depending on which way the wind is blowing.
Very bullish for NG. Somewhat bullish for coal, oil, wind, and solar. Many Gigiwatts of Nuclear Power are offline some for a few months others forever. Doubt we will see a new Nuclear plant in the US in the next 10yrs. Europe will shift harder to wind and solar...
I actually don't have a problem with nuclear power as plants are designed, sited and built today. The EU plants aren't in areas where they are likely to be effected by earthquakes, hurricanes or tsunamis, are they?
The well-designed plants today are much better than the ones that are having problems in Japan. They use passive cooling with gravity-fed cooling water that doesn't rely on pumps and those, in turn, on electricity that could be impacted in a disaster.
If you build a nuclear power plant on a subduction zone and close to the ocean then you're not doing it right.
The situation in Japan is NOT a Chernobyl and won't be. Different design. Despite all the clamor it doesn't pose much of a health risk at this time. The kind of radioactivity that has been released has short half lives often in the seconds and just is not a health issue.
Most nations need a mix of well-designed and built electrical generation including wind, solar, nuclear,
But it is all making for a volatile market!