nuclear-news

Where is TEPCOs billions? what about the victims compensation?

People who evacuated from Fukushima Prefecture have not only been exposed to radiation, but to prejudice and misunderstanding regarding compensation that they may or may not have received. The truth about Fukushima nuclear disaster compensation March 2017 https://mainichi.jp/english/articles/20170326/p2a/00m/0na/003000c

During the COP23 meetings I noticed some strong emotive arguments being used against the anti nuclear groups campaigning for renewable energy solutions in Europe. The nuclear lobby strategy is to equate anti nuclear with pro fossil fuel is a regular feature in the argument for nuclear power.

However activists have long since realised there is a swing door policy between the management positions of these energy giants. A good example is TEPCO whose business crashed in 2011, soon after the nuclear disaster in the Fukushima prefecture.

TEPCO and other utilities have holdings in both nuclear AND gas, so no rush for renewables for this state owned monopoly;

…..JERA Co., Inc., together with its subsidiaries, engages in fuel, and power generation and energy infrastructure businesses. Its fuel business includes identifying and investing in upstream fuel projects, as well as fuel procurement, transportation, and trading. ……… The company was founded in 2015 and is based in Tokyo, Japan. JERA Co., Inc. operates as a joint venture between Tokyo Electric Power Company, Incorporated and Chubu Electric Power Company ……. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=306450378

Meanwhile in an off shore tax dodging account owned by TEPCO we find hardly any information about this except for a brief sentence in the off shore tax dodge report from the paradise papers in recent weeks. Why do I mention this you may ask? Because of the minuscule compensation payouts to the victims of the nuclear disaster, but I digress.

And what little renewable energy is produced in Fukushima will be sold cheap to TEPCO anyway and funded by;

…..All the electricity generated at the plant will be sold to Tokyo Electric Power Company Holdings Inc (TEPCO) at a price of 32 yen/kWh by using the power line of the Fukushima Daini plant for 20 years. The total project cost is about 4.5 billion yen, which is subsidized by the national government and Fukushima Prefecture. Also, a project finance loan was structured by a local bank…..  https://japantoday.com/category/tech/solar-plant-begins-operation-in-fukushima

Still no mention of what happened to the off shore millions… billions…. or trillions?

Meanwhile in Australia the Wheatstone Project is digging deep for fossil fuels for Japan;

Australian Wheatstone Project, loaded onto the vessel Asia Venture, has arrived at TEPCO Fuel & Power Futtsu LNG Terminal, in Chiba Prefecture, on 12 November.

The company will be the largest buyer of LNG from the Wheatstone Project, after concluding a long-term sales and purchase agreements for 5.2 MTPA of LNG.

JERA has also contributed to the launch of the Wheatstone Project as a participant in the project through PE Wheatstone Pty. Ltd., an Australian subsidiary of Pan Pacific Energy K.K., which is jointly owned by Mitsubishi Corporation (MC), Nippon Yusen Kabushiki Kaisha (NYK Line) and Japan Oil, Gas and Metals National Corporation (JOGMEC).

The Wheatstone Project is one of Australia’s largest resource developments. The Wheatstone platform is the largest offshore gas-processing platform ever installed in Australia, with a topside weight of about 37,000 metric tons, and the largest float-over installation Chevron has ever delivered globally.  https://www.green4sea.com/jera-receives-first-lng-cargo-from-wheatstone-project/

Seems TEPCO preferred the tax payers to pay the victims compensation even though they have other holdings;

…….In fact, an OECD report from 1999 said that conflicts between the private sector (TEPCO and the Oze Forest Management Co. owned by Tepco and runs 5 lodges in Oze, four of which are in the Special Protection Zone against other park organisers’ wishes) and the environment agency and conservation NGOs caused difficulties that would be easier to deal with if the environment agency had overall say in the running of Oze National park…… https://www.opednews.com/articles/Does-Tepco-own-a-radioacti-by-Shaun-McGee-Corporations-Nuclear-Commercial_Fukushima-Meltdown_Nuclear-Arms-Race_Nuclear-Meltdown-140711-884.html

So much for Climate change and environmental concerns. But I wonder about the off shore tax money and the compensation for the victims of the nuclear disaster? Dont you?

“In addition to top-flight international banks such as Barclays, Goldman Sachs and BNP Paribas, other elite Appleby clients have included the founder of one of the Middle East’s largest construction conglomerates, the Saad Group, and the Japanese company operating the crippled nuclear power plant in Fukushima.” http://www.fukuleaks.org/web/?p=16491

More information here; http://press-files.anu.edu.au/downloads/press/n2335/html/ch06.xhtml?referer=2335&page=11

November 14, 2017 - Posted by arclight2011part2 | Uncategorized