nuclear-news

Stop the nuclear industry welfare programme

After 60 years, the taxpayer should not continue to subsidise multibillion-dollar corporations in the nuclear energy sector Guardian, Bernie Sanders and Ryan Alexander, 13 Apr 2012 “……Nuclear welfare started with research and development. According to the non-partisan Congressional Research Service, since 1948 the federal government has spent more than $95bn (in 2011 dollars) on nuclear energy research and development (R&D). That is more than four times the amount spent on solar, wind, geothermal, biomass, biofuels, and hydropower combined. But federal R&D was not enough; the industry also wanted federal liability insurance too, which it got back in 1957 with the Price-Anderson Act. This federal liability insurance programme for nuclear plants was meant to be temporary, but Congress repeatedly extended it, most recently through 2025. Price-Anderson puts taxpayers on the hook for losses that exceed $12. 6bn if there is a nuclear plant disaster. When government estimates show the cost for such a disaster could reach $720bn in property damage alone, that’s one sweetheart deal for the nuclear industry!

R&D and Price-Anderson insurance are still just the tip of the iceberg. From tax breaks for uranium mining and loan guarantees for uranium enrichment to special depreciation benefits and lucrative federal tax breaks for every kilowatt hour from new plants, nuclear is heavily subsidised at every phase. The industry also bilks taxpayers when plants close down with tax breaks for decommissioning plants. Further, it is estimated that the cost to taxpayers for the disposal of radioactive nuclear waste could be as much as $100bn……https://www.theguardian.com/commentisfree/cifamerica/2012/apr/13/nuclear-industry-us-welfare

August 12, 2016 - Posted by Christina Macpherson | business and costs, politics, USA