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The costs and risks of nuclear energy

The costs and risks of nuclear energy

Gainsville.com Diane Forkel 24 July 09 “……………….Progress Energy is looking ahead to increasing energy use. Their plans are to build two new nuclear power plants. However, electric customers beware, excessive cost overruns (and defects and deficiencies) at a Finnish power plant have been reported in the New York Times. If Progress Energy experiences similar problems, utility customers should brace for a double-cost whammy in their electric bills.

Nuclear power plants carry a good deal of financial risk, so the industry is heavily backed by the government. Currently, applications are being made for billions of dollars in loan guarantees, aka government bailouts. And they could end up being just that.

A Union of Concerned Scientist website notes in 1985 Forbes magazine called the nuclear industry bailout of that era “the largest managerial disaster in business history.”……………The nuclear power plant carbon footprint (CF) is also quite large. It encompasses plant construction, plant decommissioning, and construction of a huge waste storage facility, such as Yucca Mountain, and/or other additional storage facilities. I am sure new research buildings and experimental plants for nuke waste technological breakthroughs will also add to CF………………………..

Inexperience is also blamed for Areva’s costly nuclear power plant construction problems in Finland. Yet Areva has more experience than its U.S. counterparts in building nuclear facilities.

Areva’s costly construction issues are unnerving. Structural construction problems raise safety concerns. An accident at any nuclear facility could be devastating in terms of loss of live and long-term environmental damage.

I have to wonder if this country is adequately prepared to handle radiation fallout from a nuclear accident. And the financial burden of a nuclear accident, or even just a huge bailout, could cause the country’s soaring deficit to shatter and crash.

Diane Forkel: The costs and risks of nuclear energy | Gainesville.com | The Gainesville Sun | Gainesville, FL

July 25, 2009 - Posted by Christina Macpherson | 1, business and costs, USA | antinuclear, AREVA, nuclear, nuclear costs, radioactive