nuclear-news

Warren Buffett sees the nuclear industry as dead

Mr. Buffett asserted to CNBC that nuclear facility construction in the U.S. will be “dead for a long, long time.”….“It would be unconscionable for Mr. Buffett’s company to swindle Iowans into investing in a project that he himself has apparently written off…

Watchdog Group Charges Buffett With Swinding Iowans Over New Nuclear Reactor, eNews Park Forest, 27 April  OMAHA, Neb  – As shareholders began arriving for Berkshire Hathaway’s annual meeting, Friends of the Earth placed an advertisement in the Omaha World-Herald challenging Warren Buffett to halt an attempt by one of his companies to force Iowa ratepayers to invest in a new nuclear reactor.

Following the nuclear disaster in Japan, Mr. Buffett asserted to CNBC that nuclear facility construction in the U.S. will be “dead for a long, long time.”

Yet in Iowa, a Berkshire Hathaway-controlled company, MidAmerican Energy, is pushing the legislature to pass a bill that would allow the company to raise the public’s electric rates upfront in order to pay for a new nuclear reactor—and to reap the benefits of the higher rates even if, as Buffett himself suggested, a new reactor is never constructed…….“It would be unconscionable for Mr. Buffett’s company to swindle Iowans into investing in a project that he himself has apparently written off……Recent polling shows that 75 percent of Iowans oppose the legislation pushed by MidAmerican. The Iowa House passed the bill yesterday and the bill is expected to come up for a vote in the Senate this week……http://www.enewspf.com/latest-news/science-a-environmental/23844-watchdog-group-charges-buffett-with-swindling-iowans-over-new-nuclear-reactor.html

April 28, 2011 - Posted by Christina Macpherson | USA