Radiation-contaminated water has been pouring into the Pacific Ocean from the disabled Fukushima Daiichi nuclear plant for the past two years, an industry ministry official told reporters on Wednesday.

A Japanese government official said an estimated 300 tons of contaminated water is leaking into the Pacific Ocean per day from the wrecked Fukushima nuclear plant.

Japanese authorities are working in crisis mode, attempting to assure the public both at home and abroad that the situation will not further escalate into a widespread environmental catastrophe.

Prime Minister Shinzo Abe on Wednesday promised to increase government efforts to stem the leakage of radioactive water.

Abe put the Minister of Economy, Trade and Industry in charge of the situation, while demanding that the plant's operator, Tokyo Electric Power Co (Tepco) take the necessary steps to deal with the cleanup, which is anticipated to take more than 40 years at a cost of $11 billion.

pshaw... more mere externalities

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty