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View Diary: Fukushima: Restoration Roadmap Released Rov #50 (187 comments)

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  •  Yes, this must be a misprint, because (6+ / 0-)
    Recommended by:
    rja, mattman, Joieau, kurious, peraspera, Siri

    $11,800 * 50,000 = $59,000,000  So 590,000 is 1% of what is needed.  

    And, $59 million is not a lot to ask a utility to deposit, against even a capped liability of $44.84 billion.

    I'll, try to find the original source.   And sorry for saying this wasnt even 10% when it is 1%.  

    The means is the ends in the process of becoming. - Mahatma Gandhi

    by HoundDog on Sun Apr 17, 2011 at 12:23:27 PM PDT

    [ Parent ]

    •  How can a power utility make (11+ / 0-)

      losses for "two consecutive years"?
      Not to mention "$91 billion of debt on its books"?
      Especially with their near monopoly position in their part of Japan due to the different standards (50 vs. 60 Hz IIRC).

      Normally that would be a license to "print money"?
      Didn´t their fees cover their costs?
      Or did they spend too much money on "foreign adventures"?

      •  Great questions Detlef, I found this curious (11+ / 0-)

        too.

        Plus, something else is curious here, as I believe the record will show that the application for this $24 billion in additional funding was already being applied for before the accidents occured.

        I remember because, I made some "subtle" sarcastic remarks, in the first weeks reporting,  that I was certainly hoping that it didn't create the appearrance of a conflict of interest, that TEPCO's very poor, non-transparant reporting, might be due to the fact that they already had an urgent $24 billion in additional financing before the banks.

        One relatively "shocking" revelation in the last week was the one TEPCO official admitting that the reason they didn't annouce it as and INES Level 7 accident, in the first week, even though they knew it was, is they did not want to create panic.

        But, it was obvious that under-reporting was going on.  My dairy, "Evidence of Lack of Complete Candor Emerges" was just one of many calls here at DKOS for more transparency.  

        So, did they really line up this $24 billion of new credit in the first days, or was this already in process, and history is being rewritten a little?   I suppose it doesn't really matter at this point, but I share your curiousity.

        I've read in many places that the government is highly concerned not to let TEPCO fail, as it is responsible for generating a sizeable fraction of Japans remaining electricity needs.  

        This may be the responsible thing to do.  I'm not questioning the governments motivation, in this regard, but, it does appear that TEPCO was already in finanical trouble before this accident occured.

        The means is the ends in the process of becoming. - Mahatma Gandhi

        by HoundDog on Sun Apr 17, 2011 at 01:54:03 PM PDT

        [ Parent ]

      •  I wonder if independent investigative... (8+ / 0-)

        accountants auditing the books would be able to shed some light on how this company got into this financial position?  

        •  you mean, why is TEPCO still in charge? (7+ / 0-)

          That to me is the biggest mystery of all.  

          •  Yes, cue the twilight zone music "To de do du (4+ / 0-)
            Recommended by:
            rja, peraspera, Just Bob, Siri

            too dee doo duu.

            Does this remind anyone else of the BP Gulf oil spill disaster?  

            We were stunned, well, at least I was, that BP would be allowed to continue to manage the crisis.

            But, someone else pointed out, "who else is going to do it?"

            Are these two incidents not all the proof we need that the human  race has gotten ourselves in over our heads, with many of these extra-ordinary technologies.

            It is really amazing that little small groups, can get them to work at all.  But, then when they go wrong, we realize that we have no one else in the world, that does not have huge conflicts-of-interest, to step in and take control.

            When Exelon, and Exxon, present these tables of comparitive costs of the different types of energy generation, should we not add to deep water drilling, nuclear, shell fracking and others, a "technological complexity risk factor?" as just one of many external costs that are not included when these tables suggest that clean renewables are still more expensive than nuclear, oil, coal, and shell?  

            The means is the ends in the process of becoming. - Mahatma Gandhi

            by HoundDog on Sun Apr 17, 2011 at 07:32:57 PM PDT

            [ Parent ]

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