This was bound to happen:I thought of selling on Friday past but for two reasons did not. One Vanadium and two is much more complicated.
First I would like to extend my condolences to anyone who has personal involvement in this most horrific natural tragedy.
I now would like to state that despite the N plants age they in themselves did not fail in this most catastrophic earthquake which, by the by,. jolted earth's axis by 4 in and moved the island Japan 8+ feet. And of course created a most destructive tsunami that has wiped out entire towns in Japan, taken countless lives, and sent the wave around the world.
My point is this: the plants did not fail in this very destructive quake, as matter of fact the plants were shutting down automatically and cooling was taking place for about one hour after the quake hit. It was not until the tsunami struck resulting in drowning the back up power for the pumps (Diesel Generators) that cooling failed and there is where the failure occurred not from a 9.0 quake but from the wall of water created by the quake.
The solution for new N plants is to ensure they are built as far as possible from large bodies of water and if not possible or in up grading existing N plants house the back up power in Tsunami proof buildings.
This disaster IMO is proof that man and his tools have come along way indeed for any building to withstand such a tremendous natural force is testament to mankind ingenuity.
This disaster only proves that N Plants are safe and that what needs work is the better planning of and installing of back up power systems, backup water systems......