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Nukenomics No Longer Add Up – Expert by OneWorld United States — nuclear power, energy, environment | Gather

Nukenomics No Longer Add Up – Expert
gather NEWS  Brittany Schell, OneWorld US  November 05, 2008

WASHINGTON, (OneWorld) – Nuclear power is a risky source of energy that comes with many hidden costs, said an environmental analyst and long-time leader in the U.S. environmental movement Tuesday.

Lester Brown, president of the Earth Policy Institute, said the “flawed economics” of nuclear power are placing unforeseen burdens on taxpayers: the costs related to the construction of nuclear plants, the disposal of nuclear waste, the decommissioning of old plants, and security in case of an accident all contribute to the price the world pays for nuclear power. Wind energy is a more economically sound option, said Brown………………………

Brown said that when calculating the true cost of nuclear power, factors such as waste disposal, insurance in case of an accident, and decommissioning costs once a plant is worn out have to be included.

“A dollar invested in wind produces more energy, leads to a greater reduction in carbon emissions, and creates more jobs than one invested in nuclear power.”……………………

Brown mentioned the Yucca Mountain nuclear waste repository, where the United States plans to store the radioactive waste from its 104 nuclear reactors, as an example of unforeseen costs of nuclear power. Yucca Mountain is located 90 miles outside of Las Vegas, Nevada. The cost of this repository, estimated at $58 billion in 2001, has climbed to $96 billion.         

“Not only is Yucca Mountain over budget, it is 19 years behind schedule,” said Brown. “It was originally supposed to be ready to accept waste in 1998 and it now is scheduled for 2017. It’s not even certain that it will ever be completed.”

The lack of a permanent waste storage facility is a security risk and security costs are usually not included in financial analyses either, said Brown. There are 121 temporary facilities in 39 states, and it is difficult to monitor and provide adequate security for all the sites. He cautioned that this distribution leaves the sites vulnerable to leakage, as well as possible terrorist attacks.

“There is a growing risk of radioactive material getting into the wrong hands,” Brown said. He said there were 250 incidents last year of nuclear material being lost or stolen, and a lot was never recovered………………………According to a 2004 International Atomic Energy Agency report, the decommissioning cost for each reactor will range from $250 to $500 million, not including the cost of removing and disposing of the waste.A report by nuclear consultant Mycle Schneider said recently that about 90 nuclear reactors are set to close within the next seven years……………….In light of this impending decline, Brown said the U.S. government should stop investing money in nuclear power — currently over $70 billion a year — and devote more money to the research and development of renewable energy sources, such as wind.

Nukenomics No Longer Add Up – Expert by OneWorld United States — nuclear power, energy, environment | Gather

November 7, 2008 - Posted by Christina Macpherson | Uncategorized