"Doomers will likely appreciate that this story arc is playing out very much like the subprime crisis and the world-wide credit crunch, but on a much compressed time frame. The 3/11 earthquake/tsunami event was bad enough, but it uncovered a hidden flaw in the system (the all eggs in one basket concentration of in-use and spent U/Pu fuel still in temporary storage facilities) which applies to most of the world’s nuclear power plants. The clear implication is that all the plants everywhere must go into cold shutdown immediately and we’ve got to start a crash program to put all the fuel into hands-free storage. For now and in the medium term I suppose that means Yucca Mountain (and the equivalents in other countries) and vitrification."

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