Japan Approves Nuclear Power Plan

The Japanese government has approved an energy plan that backs the use of nuclear power, despite public anxiety after the Fukushima disaster.

The plan reverses an earlier decision to phase out nuclear power by a previous government.

It will set the stage for the government to restart some reactors, all of which are currently idled.

The move comes days after the first Fukushima evacuees returned to their homes inside the exclusion zone.

“We aim to opt for an energy supply system which is realistic, pragmatic and well balanced,” Japanese Trade and Industry Minister Toshimitsu Motegi told reporters.

Under the plan, the government would proceed with reactivating nuclear power plants that had met tough regulatory standards, Kyodo News agency reported, while also working to reduce nuclear dependence as much as possible.

The plan did not specify Japan’s future energy mix, but promised to increase its reliance on renewable energy.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza