Oh, the law of unintended consequences and the opportunities it brings. 

Thanks to the new standard of Keynesian Abenomics, the Nikkei has blasted 47% higher since November.  The Yen has lost about 25% against the U.S. dollar in the same time.

While we don't know what the future will hold for these trends, there's something else going on that will not fade quickly: The weak Yen has made imports to Japan a whole lot more expensive...including energy.

Since the Fukishima-Daiichi nuclear disasters in March 2011, Japan has compensated for its offline nuclear power plants by importing copious amounts of Liquefied Natural Gas (LNG).  It was the fastest way to keep electricity output stable in an economy reliant on non-domestic energy suppliers.

Energy now accounts for about one-third of all Japanese imports.  In March, those imports were valued at $17 billion Yen for the month.  The following month, that number hit $22 billion. 

Not surprisingly, in April Japan set a new record for spending on LNG imports.  To be sure, a foundering Yen has contributed greatly.  But this nation built on exports needs to keep the lights on.  If all of Japan's nuclear plants were up and running at capacity, they'd supply 30% of the country's electricity needs.  Instead, they account for just 2%. 

And Japan is not alone.

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