Experts: Japan’s Nuclear Problems Could Greatly Affect Global Energy Policies

March 18, 2011

A view of Enel's power plant, built on a site of a projected nuclear plant which has not been completed, in Montalto di Castro in central Italy March 18, 2011. Italy, which is prone to earthquakes, is the only Group of Eight industrialized nation that does not produce nuclear power, but Prime Minister Silvio Berlusconi wants atomic plants to generate a quarter of the country's electricity in the future.

Japan’s ambassador to the United States, Ichiro Fujisaki, said he was confident his country would eventually overcome the earthquake-borne disasters.

“I do not want to prejudge the situation now, but what I can say is we are trying our best. We should overcome the situation and we will overcome the situation”

Possible chilling effect on nuclear power

Economists predicted the situation will have little overall effect on Japan’s economy, and may actually spur stimulus spending for reconstruction projects.

But an energy expert, Charles Ebinger, warned countries investing more and more in nuclear energy, may now stop those initiatives, and turn back to other energy sources.

He said this could derail international efforts in terms of trying to limit potential climate change.

“If China and India said we are not going to build nuclear and burn more coal, we might as well not worry about what we do on fossil fuel consumption because it will not make any difference. We will have climate change. And I do not think people have realized the degree to which you are not going to replace the nuclear plants with wind and solar in the near future. So you are talking about a fundamental change. You would see upward pressure on petroleum prices and it just would not be good for the world economy,” said Ebinger.