Nuclear renaissance not likely, despite Obama’s support

This unending stream of technical, financial and political downfalls could doom the “reactor renaissance” to history’s radioactive dump heap. “

Harvey Wasserman: Obama’s New Nuclear War THE HUFFINGTON POST 2 Feb 2010 Amidst utter chaos in the atomic reactor industry, Team Obama is poised to vastly expand a bitterly contested loan guarantee program that may cost far more than expected, both financially and politically.The long-stalled, much-hyped “Renaissance” in atomic power has failed to find private financing. New construction projects are opposed for financial reasons by fiscal conservatives such as the Heritage Foundation and National Taxpayers Union, and by a national grassroots safe energy campaign that has already beaten such loan guarantees three times.

New reactor designs are being challenged by regulators in both the US and Europe. Key projects, new and old, are engulfed in political/financial uproars in Florida, Texas, Maryland, Vermont, New Jersey and elsewhere.

And 53 years after the opening of the first commercial reactor at Shippingport, Pennsylvania, Department of Energy Secretary Steven Chu is now convening a “Blue Ribbon” commission on managing radioactive waste, for which the industry still has no solution. Though stacked with reactor advocates, the commission may certify the death certificate for Nevada’s failed Yucca Mountain dump……………

the DOE has been unable to minister to a chaotic industry in no shape to proceed with new reactor construction. As many as five government agencies are negotiating over interest rates, accountability, capital sourcing, scoring, potential default and accident liability, design flaws and other fiscal, procedural and regulatory issues, any or all of which could wind up in the courts.

In 2007 a national grassroots uprising helped kill a proposed addition of $50 billion in guarantees, then beat them twice again……

This unending stream of technical, financial and political downfalls could doom the “reactor renaissance” to history’s radioactive dump heap. “President Obama needs to remember what Candidate Obama promised: no more taxpayer subsidies for nuclear power,” said Michael Mariotte, executive director of the Nuclear Information and Resource Service. “Renewables and energy efficiency provide both greater carbon emissions reductions and more jobs per dollar spent than nuclear. Unlike nuclear power, they are relatively quick to install, and are actually safe and clean.”

Indeed, despite Congressional and White House support for these latest proposed loan guarantees, the grassroots fight over both old and new nukes grows fiercer by the day. In the long run, this alleged “nuclear renaissance” could prove to be little more than a rhetorical relapse.

Harvey Wasserman: Obama’s New Nuclear War