Japan’s Election Results Have Uranium Bulls Ready to Charge

From OilPrice.com

The results from Japan’s general election Sunday may be a bellwether event for nuclear power. In a landslide win, Japan’s Liberal Democratic Party (LDP) claimed 294 out of the 480 seats in the lower house of the Diet Sunday, defeating anti-nuclear opponents with a platform focused on economic issues and foreign policy. The Energy Report reached out to leading North American analysts for their take on Japan’s changing of the guard and its effect on uranium stocks.

Energy played an important role in this election, and as the National Journal reports, LDP Leader Shinzo Abe has criticized Democratic Party of Japan Leader Yoshihiko Noda’s goals to eliminate nuclear power from Japan’s energy mix as both “unrealistic” and “irresponsible.”

Federation of Electric Power Companies of Japan (FEPC) Chairman Makoto Yagi echoed this stance in his Dec. 17 statement, which declared the election a “breakthrough event in regenerating the nation” and called for a diverse energy portfolio that would allow Japan to “attain the three E’s of energy security, environmental conservation and economy.”

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