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CNBC reported that the erosion of the yen may force Japan back towards nuclear power as other energy is becoming prohibitively expensive for them.
CNBC reported that the erosion of the yen may force Japan back towards nuclear power as other energy is becoming prohibitively expensive for them.
As quoted in the market report:
Japan’s own Ministry of Economy, Trade and Industry estimates the nuclear shutdown is costing the utility companies around $13 billion a year—a real strain on an economy mired in recession. Meanwhile, market prices for uranium have plunged 40 percent since Tokyo shut down the country’s reactors, which could make it cheaper for the country to fire up its nuclear plants again.
To view the whole CNBC report, click here.