On March 11 at 2:46pm JST a massive 9.0-magnitude earthquake occurred near the northeastern coast of Japan, creating extremely destructive tsunami waves which hit Japan just minutes after the earthquake, triggering evacuations and warnings across the Pacific Ocean. The earthquake and tsunami have caused extensive and severe damage in Northeastern Japan, leaving thousands of people confirmed dead, injured or missing, and millions more affected by lack of electricity, water and transportation., not to mention the threat of radioactivity.
A woman cries while sitting on a road amid the destroyed city of Natori, Miyagi Prefecture Picture: REUTERS
While this blog is normally focused on business issues affecting the energy and environmental markets, sometimes the world around us needs more attention than our companies. This is one of those times. The estimates are that it could cost Japan between $150-200 Billion to rebuild over the next 5 years, and return the country to a semblance of “normalcy”. And while Japan is one of the most industrialized nations on earth I urge anyone with the means to contribute to this relief effort. While the money is sorely needed, it is more important to show your humanity and align yourself with others in need, to show solidarity as well as empathy, compassion and understanding. This is what being a “global” economy truly means.
