Siemens calls it quits on the nuclear industry

     Behemoth engineering company Siemens decided to step away from nuclear power in light of the recent Fukushima meltdown. They hold the reputation of being the company that built all of Germany's power plants. Chief executive Peter Loescher said that there is a "clear positioning" that puts much of German society against nuclear energy. A planned joint-venture with Rosatom, a Russian nuclear energy company, has been cancelled as a result. However, the company plans to continue its business in the power industry and will allow the components they build to be used in power plants that are built in the future.

   
     As the Fukushima incident falls farther into the past, its repercussions become clearer and clearer. Wanting to avoid a similar tragedy, Siemens is protecting itself by reducing the chance of more possible liabilities. With the world giving nuclear energy the stink eye, a huge company that has its hands in the industry is no doubt under a lot of scrutiny. Wanting to protect their hides is definitely a move that's understandable. What's more striking to me is how quickly Germany is poising itself to move away from nuclear energy and whether or not other countries will follow suit. German Chancellor Angela Merkel said that by 2022 all the nuclear reactors in Germany will be shut down. If their efforts prove successful, Germany could end up setting an example for the entire world on how to become a properly green country. I'll definitely be keeping an eye on similar news stories and seeing where it goes.