Five years after the accident at Fukushima I in Japan resulted in three reactor meltdowns, the global nuclear industry is spending $47 billion on safety enhancements mandated after the accident revealed weaknesses in plant protection from earthquakes and flooding. This is according to a Platts review put together by Steven Dolley in DC, Benjamin Leveau in London, Yuzo Yamaguchi from Tokyo, as well as Platts correspondents in Sweden, South Korea and China. Reactions to the March 11, 2011 accident ranged from pauses in new nuclear construction programs in China to Germany‚Äôs decision to gradually phase out nuclear generation. But in the majority of countries with nuclear power, plans for new reactors have been scaled back, not just because of the Fukushima I accident but for economic reasons, as competing sources of power become less expensive, renewable energy grows in popularity and slow economic growth curbs demand. Global nuclear regulators […]