Nuclear industry at a standstill: this could be the end

“The nuclear renaissance was on the rocks in any case,” said Peter Bradford, a former commissioner on the U.S. Nuclear Regulatory Commission. He served on the commission in 1979 during the Three Mile Island accident in the U.S. state of Pennsylvania.

Senator Joe Lieberman, who chairs the U.S. Senate’s homeland security panel, said on Sunday the United States should “put the brakes on” new nuclear power plants until the impact of the incident in Japan became clear.

Analysis: Nuclear renaissance could fizzle after Japan quake

(Reuters) 14 March 11, – Japan‘s battle to avert a full-scale meltdown could damage the global nuclear energy industry, derailing plans to build dozens of new power plants and forestalling any surge in demand for uranium to fuel them.

The worst nuclear accident since the 1986 Chernobyl explosion could trigger a sharp drop in shares of nuclear plant builders such as General Electric (GE.N), its Japanese partner Hitachi (6501.T) and France’s Areva (CEPFi.PA) as investors reconsider the possibility of a renaissance for the industry.

Likewise, Canada’s Cameco (CCO.TO), Uranium One (UUU.TO) and other uranium producers could tumble when stock markets open on Monday…..

While Japanese authorities appear to have prevented a worst-case scenario from unfolding, the political impact of the crisis was already hitting home in the United States.

Senator Joe Lieberman, who chairs the U.S. Senate’s homeland security panel, said on Sunday the United States should “put the brakes on” new nuclear power plants until the impact of the incident in Japan became clear.

March 14, 2011 - Posted by Christina Macpherson | business and costs, USA