Nuclear Engineer Here To Tell You What CNN Won't
Yes, the issue with the nuclear power plants in Japan is very serious. No, I did not have any part in those designs since many are over 40 years old. Yes, I am designing the next generation of nuclear power plants that are currently being built in China and the US. No, our design is not like the designs in Japan. Now that we get that out of the way, let's get to some real information.
Despite what fear the CNN reporters are trying to do (either for hidden agenda, drama boost, or ratings), much of what they are saying and reporting is highly wrong and exaggerated. Many of the reporters don't have a clue of how a nuclear power plant even works, let alone how one shuts down. They will try to get the China Syndrome Sequel out just to make a buck. The situation in Japan has no doubt affected the nuclear industry in many ways. I'm here to tell you that nuclear engineering won't go away. Many existing power plants do WORK. They are however getting older and will need to be replaced by either nuclear power (our design or competitors) or by some new invention. I have yet to see this 'new invention'. On top of that, there are many stocks today that took a hit that are directly or indirectly affected by this weekend's nuclear issues. I believe this could be the 'BP Oil Spill' of 2011. BP dropped from the $60's to $27+ in a short time. Today we can see despite 'destroying the Gulf of Mexico and ruining the planet' or other phrases networks like CNN like to put out, BP is still alive and very well - giving a new dividend later this month.
These are stocks to consider regarding the Japan Earthquake/Tsunami/Nuclear "meltdown":
URRE - Uranium Resources - has taken a 27%+ hit along with most of the sector today; involved in uranium exploration; for those unaware, this is the fuel we use to power nuclear reactors. Other stocks in this sector to consider: URZ, UEC, URG, DNN, CXZ, and URE.
SHAW - The Shaw Group - has taken an early 20% hit in early trading and now at around 19%; engineering firm playing a big part in the next generation of nuclear power plants being built around the world; they are responsible for other engineering but nuclear power plays a large role.
GE - General Electric Company - diversified company that also plays a smaller part in nuclear; has taken a 3-4% hit today.
Toshiba - several stocks are traded in relation to Toshiba which plays a large part in not only electronics but also nuclear technology.
These are just some areas to get started. If you look more into what it takes to run a nuclear power plant, you will see many companies are affected by this disaster in Japan. Of course, if you believe you will profit in the future on some of these picks, take some of the profits and donate them to one of many charities to aid the Japan Earthquake relief. Some ideas are below: