Japan’s Fukushima disaster equal to Chernobyl

Fukushima Apr11.pngFinally, the authorities have admitted that the Fukushima Daiichi nuclear problem is very serious, and still unresolved.

Its rating has now been raised to 7, the highest possible – equal to the Chernobyl disaster. The picture, from the Wall Street Journal, shows the state of the reactor building on Sunday.

Equally, the impact on the global auto industry is being more widely recognised. One senior manager at a German major told the blog that his company regard the issue as being “very serious – people don’t realise just how serious it is“.

Toyota will likely lose 40% of their global production in Q2, for example.

The key issue is the lack of electricity. This cannot be restored quickly, as the power stations need to be repaired and many of the nuclear reactors are offline. Japan also looks likely to be prioritising household supply over the summer, rather than industry.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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One Response to Japan’s Fukushima disaster equal to Chernobyl

  1. prasad 14 April, 2011 at 11:35 am #

    Every country and every one knows that earthquakes are common in Japan so why did they built nuclear power plants? they know very well if they blasts what will be happened. Now they facing that situation it is very bad and unfortunate. Most powerful countries in this world like Russia, America, China and other European countries should help Japan to come out from this situation as soon as Japan come out from this situation they will fulfill their needs as well before this Nuclear blast in fukushima no one dont know where this city and what is the advantage of this city. Now every one can easily identify fukushima.

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