Rush in now, repent later

  • 25/04/2011

  • Hindu (New Delhi)

You really have to hand it to the nuclear industry. In any other sphere of the economy, a major industrial disaster is likely to have adverse, long-term financial consequences for the company or companies whose product or activity was involved in the accident, regardless of actual cause or legal liability. Thus, the people of Bhopal may still be paying for the poisonous gas which descended over their city in December 1984 but Union Carbide became such a toxic brand that it eventually went bust. Last year's oil spill in the Gulf of Mexico has also blown a large hole in the profits of BP. But under the perverse economic logic of the nuclear industry, disasters like the one unfolding at the Fukushima-Daiichi nuclear power plant in Japan only mean more business for the world's biggest atomic energy vendors. According to Dan Yurman, a consultant for firms connected to the American nuclear industry, two giant nuclear consortia are forming to manage the clean-up of the Fukushima site.