There has been a great deal of commentary in the last few weeks that the nuclear crisis at the Fukushima plant is not as bad as the Chernobyl meltdown. We can only hope that prediction proves correct. But for the nuclear industry, say the analysts at UBS, the consequences are already even worse. In a mammoth 140-page report looking at the future of the global nuclear industry, they say: “While the 1986 Chernobyl accident, at least to date, had a significantly greater environmental impact, we would argue that Fukushima raises even larger credibility issues for the nuclear industry than previous accidents.” They say this is for two reasons: “Fukushima is happening in an advanced economy using American/Japanese reactor technology, not in a totalitarian state with substandard technology and no safety culture. The size and duration of the accident is unprecedented. Four reactors are facing significant damage and it has already lasted three weeks without engineers getting the situation under control.” Full story here
