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Going Nuclear

Going Nuclear
REUTERS 3 DEc 08 It is said that all that glitters is not gold. Keep that in mind when considering the bidding war heating up the nuclear power business. France’s EDF has offered $6.5 billion for half of Constellation Energy Group’s nuclear business and some other assets,……………….. If plummeting demand for everything from new cars to tin foil could fell BHP’s monster bid for Rio Tinto, why wouldn’t it weigh on demand for energy? While nuclear power has regained some favor as a cheap, relatively clean alternative to nasty fossil fuels, is it really safe to expect consumers to ramp up electric heat this winter, and air conditioning next summer, when they are worried about losing their jobs? And today brings more evidence that the lengthy, torturous bid process BHP endured before walking away from Rio Tinto may have saved it from dealing with a disastrous downturn in demand.

December 4, 2008 - Posted by Christina Macpherson | business and costs