Lovely… General Electric apparently also has its hand in the nuclear power game. And that hand looks a little unsteady in the context of the recent Japanese nuclear meltdown catastrophe – Hudson
By MARC CHRISTOPHERSON (Featured News, International) of Live Insurance News
General Electric is getting bad press for their part in the Fukushima nuclear crisis in Japan; but they’re not being sued, as of yet. GE designed the containment systems inside the nuclear reactors of the Fukushima power plant.
General Electric says they have an excellent record of consistency and safety since the 1970’s. However, not long after the design was used in the Fukushima plant, several opponents stepped forward in protest of the durability of the design – including some of GE’s own engineers.
The power plant and its nuclear reactors were damaged almost a month ago when a massive earthquake hit Japan. The quake was immediately followed by a powerful Tsunami; causing additional destruction in the region. There have been reports that the reactors leaked radiation into the air. The latest news tells us there is water containing radioactive contamination now leaking into the Pacific Ocean.
In Japan the government holds the plant operator responsible (in this case, Tokyo Electric Power Co.) and makes them use their insurance. If damages exceed the plant operator’s insurance, the government will cover the excess cost. If the government shows the accident was caused by a natural disaster of exceptional character, the plant operator will not be held liable and the government will pay damage costs.
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General Electric’s Credibility Problem
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G.E. should be sued. They had 3 engineers resign in the early 1970′s telling them that 1 breech in the cooling mechanism of the BWR Nuclear Reactors would cause a meltdown. G.E. was complicit in the TEPCO nuclear disaster. It was irresponsible for them to let alone build such nuclear power plants on the ring of fire, where earthquakes are very prone, plus the G.E. BWR Nuclear Reactor design was not the best design for redundancy of Safety in keeping the nuclear rods cool. I say after all is done, G.E. will take gigantic Lawsuit from TEPCO, even with the so called Channeling Laws. This will lower the G.E. stock by at least 1/10 of its stock price presently, with the lawsuits coming.