March 16, 2011
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RELATED TICKERS: JSC
That Schiff guy, gotta love him. As a card carrying pro nuke I was wondering what he would say about the power plants..
6:41 less nukes therefore more oil (wrong)
(I wish... I am longg the oil sector now!) not really most electric utiltiies use either COAL or Nat. Gas.. correct me if I'm wrong here...so no net effect on oil prices ...maybe a spike in LNG imported to Japan.
Japan uses more oil than the United States in electricity generation, but “the country's aging oil-fired power plants are used primarily as extra capacity to meet peak demand, and less than 10% of electricity produced currently is oil-generated,” according to a EIA report (pdf) dated September 2010. If nuclear power is to be reduced in the future, the main beneficiary will be Natural Gas.