Rolls Royce shares dive as JP Morgan warns that small nuclear reactors will not be profitable
The new markets business of Rolls-Royce, focusing on electrical power for
small aircraft and taxpayer-backed small modular nuclear reactors, could be
lossmaking into the 2030s, a broker has warned, pushing the engineering
group’s share price lower.
Rolls-Royce announced changes to its reporting
structure at its full-year results in February, including the creation of
its new markets unit, which is pursuing opportunities from the transition
to net zero.
In an equity research note to clients yesterday, JP Morgan
Cazenove said the venture “offers good long-term sales potential but
there is no guarantee of good profits”. Rolls-Royce secured £490 million
of funding last year, including about £50 million provided by the company
and £210 million from the government, to help to support investment in the
design of the small modular reactors (SMRs). JP Morgan said demand could
“grow strongly as countries seek to cut emissions and increase ‘energy
security’.
But SMRs need to compete with other energy sources and we see
a high risk of the first SMRs being well over budget.”
Times 13th April 2022
Rolls-Royce dives as JP Morgan casts doubt on its plans for mini nuclear
power stations and electric planes.
This is Money 12th April 2022
Japanese groups voice growing opposition, organize rallies over govt’s nuclear-contaminated water dumping plan decided one year before
Japanese groups voice growing opposition, organize rallies over govt’s nuclear-contaminated water dumping plan decided one year before
By Zhang Hui, Xing Xiaojing and Zhang Changyue, Global Times, Apr 13, 2022 Several Japanese groups voiced growing opposition and organized rallies on Wednesday against Japan’s plan to release contaminated wastewater from the Fukushima nuclear plant into the sea, marking one year after Japan’s decision.
The Japanese government turned a deaf ear to waves of opposition from Japan and surrounding countries including China and South Korea, as it aims to move ahead with the plan, Chinese experts said, noting that international society should request the International Court of Justice (ICJ) to issue an advisory opinion on the illegality of the planned release and collect scientific evidence such as nuclear-related data.
For the Middle East, the introduction of nuclear reactors poses dangers at every turn
Should Middle East climate change be tackled with nuclear energy?……. for Middle East nations there are dangers at every turn. Aljzaeera, By Sanam Mahoozi, 12 Apr 2022, If history is any indication, nuclear accidents can happen and when they do, they have deadly outcomes for humans as well as for the environment. Chernobyl and Fukushima are still paying the price for the nuclear mishaps that exposed them to radioactive material.
……………… For most countries in the Middle East, fossil fuels play a dominant role and replacing them with cleaner sources is crucial.
But some experts say transitioning to nuclear energy represents an even higher risk.
‘Risks must be considered’
As Ghena Alhanaee, a researcher in the field of civil and environmental engineering, told Al Jazeera, “there are many layers of implications if an incident were to occur in the Gulf, given the uniqueness of the region”.
Most of the countries in the region fund their economies almost exclusively through oil and gas revenues, and any disruption to these trading activities by a nuclear accident would lead to calamitous financial losses.
About half of the world’s desalination capacity is found in the region. Studies show that Gulf countries such as the United Arab Emirates (UAE), Qatar and Kuwait get more than 90 percent of their drinking water from desalination, a process that removes salt from the seawater.
“So if you get any nuclear accident in that environment you can start to say goodbye to Gulf desalination plants,” Paul Dorfman, associate fellow at the University of Sussex and chair of the Nuclear Consulting Group, told Al Jazeera.
Simply put, a nuclear incident could endanger the security of energy, water and food sectors in the region.
“All such risks must be considered by the nations sharing this very unique natural treasure,” said Kaveh Madani of United Nations University, the former deputy head of Iran’s environment department.
When it comes to nuclear power generation, “the appealing side of it is clear, as is the side that could be harmful to the health and environment of its surroundings”, Madani said.
The nuclear industry in the Gulf region is expanding, with the International Atomic Energy Agency (IAEA) currently helping some countries develop their nuclear programmes. The kingdom of Saudi Arabia is one of them.
As it stands, there are only two active nuclear power facilities in the region: the Bushehr nuclear power plant in Iran, and the Barakah nuclear power plant in the UAE. Bushehr has one operational reactor and another one under construction, and Barakah has two operational reactors with two more on the way.
Nuclear energy development in the Middle East is still in its early stages, but the number of plants is expected to increase given Saudi Arabia’s plans to take forward its own capabilities.
………….. the risks may indeed outweigh the benefits if something were to go wrong with any of the facilities.
“There is this paradox about nuclear; one never knows whether it would help you or damage you,” Dorfman pointed out.
………….. Extreme weather can also damage nuclear facilities and result in radiation footprints that last thousands of years. The European heatwaves that either shut down or slowed down the nuclear reactors in France and Germany in 2003 and 2019 are evidence of this possibility.
The region is rife with rivalries between countries, also making nuclear power dangerous.
“They can use one nuclear power programme to build up the infrastructure to at least send a signal that they could eventually develop the capability for nuclear weapons, so there are strategic reasons to want to move in that direction,” Gregory Jaczko, former chairman of the US Nuclear Regulatory Commission, told Al Jazeera.
When faced with the prospect of going nuclear for whatever reason, countries around the Gulf “need to always think about the unthinkable and should have a chronic unease because this technology, by its nature, is a safety-critical technology and its accident is characterised as low-probability, high consequence,” said Najmedin Meshkati, civil environmental engineering professor specialising in nuclear safety at the University of Southern California.
“If something goes wrong,” said Meshkati, “these consequences will have a punishing impact for the workers, for the company, for the country, and for the entire region.” https://www.aljazeera.com/news/2022/4/12/should-middle-east-climate-change-be-tackled-with-nuclear-energy
Oregon regulators have doubts about Natrium nuclear schedule for Kemmerer
Oregon regulators question nuclear schedule for Kemmerer
Public utility officials in Oregon say they support PacifiCorp’s plan to add the Natrium plant to its power fleet, but declined to formally recognize it as a viable project this early.
by Dustin BleizefferApril 13, 2022 TerraPower’s Natrium nuclear power plant in Kemmerer might help Oregon accomplish its climate action plan by helping to replace coal power, but state regulators, concerned by the project’s unprecedented timeline, aren’t yet willing to bet on it. TerraPower’s Natrium nuclear power plant in Kemmerer might help Oregon accomplish its climate action plan by helping to replace coal power, but state regulators, concerned by the project’s unprecedented timeline, aren’t yet willing to bet on it.
The Oregon Public Utility Commission in March declined to formally acknowledge PacifiCorp’s plans for Natrium to be a part of its future electrical generation portfolio.
“This project is just so early that we don’t really feel like we can give it that kind of weight,” Oregon PUC Commissioner Mark Thompson said. “That’s not because PacifiCorp has done something wrong. I just think it’s just not knowable. It’s so early on.”
The commission approved the balance of PacifiCorp’s “integrated resource plan” for how it will meet future power needs for its Oregon customers. Commissioners said they remain open to including Natrium in future filings from PacifiCorp.
Why it matters
Natrium skeptics have noted that crucial federal funding for the project is tied to meeting aggressive deadlines. The commission’s decision appears to be the first instance of a regulatory body acting on similar concerns.
PacifiCorp, which operates as Rocky Mountain Power in Wyoming, is a regulated utility providing electrical power to customers in six western states, including Oregon. State public utility authorities must approve plans for new electrical generation facilities before a utility is allowed to tap ratepayers to cover the cost………….
“PacifiCorp and TerraPower understand that PacifiCorp will only move forward if the Natrium demonstration project brings value to our customers,” PacifiCorp spokeswoman Tiffany Erickson said. https://wyofile.com/oregon-regulators-question-nuclear-schedule-for-kemmerer/
South African Anti-nuclear activist taking Energy Minister to court for firing him
Anti-nuclear activist taking Gwede Mantashe to court for firing him
Fin 24, Lameez Omarjee, 13 Apr 22
- Anti-nuclear activist Peter Becker has launched a legal challenge against Energy Minister Gwede Mantashe.
- The minister had axed Becker from the board of the National Nuclear Regulator over an alleged conflict of interest.
Becker is the spokesperson of Koeberg Alert Alliance, a civil society group concerned with the safety of nuclear activity……………….. https://www.news24.com/fin24/economy/anti-nuclear-activist-taking-gwede-mantashe-to-court-for-firing-him-20220413
Anti- Bradwell B campaigners slam Government’s boost for nuclear – ”never likely to see the light of day!”
Bradwell B campaigners slam Government’s boost for nuclear, Maldon Standard BY JESSICA DAY-PARKERTRAINEE REPORTER, CAMPAIGNERS against a new nuclear power station in the Dengie say the Government’s big boost for new nuclear is “unachievable, delusionary and irrelevant”.
The Government launched its British Energy Security Strategy which signifies a significant acceleration of nuclear energy, as well as renewables.
It sets out plans to boost nuclear power to three times its present capacity to produce 25 per cent of the UK’s electricity by the middle of the century.
Prime Minister Boris Johnson said the strategy will reduce dependence on power sources “exposed to volatile international prices” and increase energy self-sufficiency with cheaper bills.
However, Prof Andy Blowers, Blackwater Against New Nuclear Group’s (BANNG) chair, said: “This policy of nuclear expansion should be dismissed as unachievable, delusionary and irrelevant.
“And there is little prospect of Bradwell being among the sites where new nuclear power stations are likely to be built.”
BANNG argues nuclear power does not provide the answer to energy security for a number of reasons…………………
Prof Blowers added: “Despite the hype, the new nuclear boost is unlikely to get off the ground.
“And, Bradwell B or any other nuclear project is never likely to see the light of day on a wholly unsuitable site. The local communities have made their voices heard and helped to see off the Chinese developer. They are hardly likely to welcome a successor.” https://www.maldonandburnhamstandard.co.uk/news/20064213.bradwell-b-campaigners-slam-governments-boost-nuclear/
France working out how to save debt-laden nuclear company EDF
France is considering restructuring plans for debt-laden power firm EDF
(EDF.PA) that include full nationalisation followed by the sale of its
renewables business to focus on nuclear energy, BFM Business reported,
citing unidentified sources.
The website said the government was working
with investment bank Goldman Sachs on several restructuring scenarios. The
sale of the renewables business could fetch 15 billion euros ($16 billion),
it cited unidentified bankers as saying, adding that could help finance the
building of six next-generation EPR nuclear reactors.
Reuters 13th April 2022
Nuclear Free Local Authorities deplore UK govt’s super-costly new nuclear energy strategy, and its rejection of energy conservation measures
THE NUCLEAR FREE LOCAL AUTHORITIES organisation (NFLA) says it is
“incredulous” that Prime Minister Boris Johnson and the UK Government
remains wedded to a new Energy Security Strategy that will rely in large
part upon the development of 24 GW of new nuclear generation capacity to
power Britain.
A plan involving mass investment in renewables and a
reduction in electricity demand through retrofitting the nation’s homes
with insulation would have been far cheaper and quicker to deliver, it
says.
In response to the government’s commitment to build the equivalent
of eight new large nuclear power stations by 2050, NFLA National Chair,
Councillor David Blackburn, said: “It defies common sense that the
current government is turning to a technology that is too slow to install,
too costly to build, remains risky to operate and vulnerable to military
and terrorist attack, and leaves a toxic legacy of radioactive waste that
has to be safely stored for 100,000 years.”
Ekklesia 13th April 2022
April 13 Energy News — geoharvey
Opinion: ¶ “Nuclear Energy Should Not Be Part Of The Global Solution To Climate Change” • Nuclear culture, skills, vendors, and prospects are shriveling, mostly due to bad economics. Sun and wind are now the cheapest bulk source for at least 91% of world electricity, says Bloomberg New Energy Finance, so they’re winning about 10–20 […]
April 13 Energy News — geoharvey
NATO’s shift to Asia-Pacific: Biden trip to Japan designed to rally Asia against Russia, China — Anti-bellum
Global TimesApril 12, 2022 Biden plans Japan visit to coordinate Indo-Pacific, but ‘India’s reluctance to sway on Ukraine weakens QUAD’By Zhang Han and Xu Keyue US President Joe Biden is expected to visit Japan for the QUAD summit in late May, a move which experts see as a further attempt to showcase US leadership in […]
NATO’s shift to Asia-Pacific: Biden trip to Japan designed to rally Asia against Russia, China — Anti-bellum
Zelensky adviser: Ukraine war can last till 2035, best option is for Russia to be broken — Anti-bellum
Ukrainian News AgencyApril 12, 2022 Arestovych Explains Why Putin’s Death Not Beneficial For Ukraine See: NATO gloats over second, bloodier phase of Ukraine war Oleksii Arestovych, an adviser to the head of the Presidential Office, believes that the death of Russian President Putin is not beneficial for Ukraine, it is necessary to “break Russia with […]
Zelensky adviser: Ukraine war can last till 2035, best option is for Russia to be broken — Anti-bellum
NATO gloats over second, bloodier phase of Ukraine war — Anti-bellum
Ukrainian News AgencyApril 12, 2022 Second Stage Of War In Ukraine Will Be More Bloody And Widespread – NATO NATO estimates that a second phase of war in Ukraine is inevitable. It will be much more complex and bloody. This was stated by Deputy Secretary General of the Alliance Mircea Geoana in a commentary for […]
NATO gloats over second, bloodier phase of Ukraine war — Anti-bellum
Caitlin Johnstone sheds a critical gaze on media reporting on Ukraine, and asks why Julian Assange is criminalised for revealing military atrocities.
If it seems a bit hypocritical to you that the empire is blasting us in the face all day with narratives alleging Russian war crimes while that same empire is imprisoning a journalist for exposing its war crimes, that’s because it absolutely is hypocritical.
If something looks wrong about the fact that we’re about to watch a judge sign off on Julian Assange’s extradition to the United States for practicing journalism while that same United States keeps pushing out narratives about the need to protect Ukraine’s freedom and democracy, that’s because it should.
If It Feels Like You’re Being Manipulated, It’s Because You Are,
more https://caitlinjohnstone.substack.com/p/if-it-feels-like-youre-being-manipulated?s=w Caitlin Johnstone, 11 Apr 22, If you’ve got a gut feeling that your rulers are working to control your perception of the war in Ukraine, it is safe to trust that feeling.
If you feel like there’s been a concerted effort from the most powerful government and media institutions in the western world to manipulate your understanding of what’s going on with this war, it’s because that’s exactly what has been happening.
If you can’t recall ever seeing such intense mass media spin about a war before, it’s because you haven’t.
If you get the distinct impression that this may be the most aggressively perception-managed and psyop-intensive war in human history, it’s because it is.
If it looks like Silicon Valley platforms are controlling the content that people see to give them a perspective on this war that is wildly biased in favor of the US narrative, it’s because that is indeed the case.
If it seems like a suspicious coincidence that Russiagate manufactured mainstream consent for all the same shady agendas we’re seeing ramped up now like cold war brinkmanship against Moscow, internet censorship, and being constantly lied to by the mass media for the greater good, it’s because it is a mighty suspicious coincidence.
If it seems weird to you that so many self-styled leftists are responding to this war by fanatically supporting the extremely dangerous unipolarist geostrategic agendas of the most powerful empire that has ever existed, that’s because it is weird. Really, really, really weird.
If it seems a bit hypocritical to you that the empire is blasting us in the face all day with narratives alleging Russian war crimes while that same empire is imprisoning a journalist for exposing its war crimes, that’s because it absolutely is hypocritical.
If something looks wrong about the fact that we’re about to watch a judge sign off on Julian Assange’s extradition to the United States for practicing journalism while that same United States keeps pushing out narratives about the need to protect Ukraine’s freedom and democracy, that’s because it should.
If you’re beginning to get the nagging sense that the mainstream consensus worldview is a construct manufactured by the powerful, for the powerful and everything you were taught about your nation, your government and your world is a lie, that’s definitely a possibility worth considering.
If it’s starting to seem like we’re all being manipulated at mass scale to think, act and vote in a way which benefits a vast power structure that rules over us while hiding its true nature, I’d say that’s a thread worth pulling.
If you’ve a sneaking suspicion that the lies might go even deeper than that, right down to deceptions about who you fundamentally are and what this life is actually about, that suspicion is probably worth exploring.
If you’re feeling a bit like Keanu Reeves in the beginning of The Matrix right before the veil gets ripped away, I’d recommend following the white bunny and seeing how deep that rabbit hole goes.
If it has occurred to you that humanity needs to wake up from the matrix of illusion before our sociopathic rulers drive us to extinction via environmental catastrophe or nuclear armageddon, then your notes match my own.
If you believe it’s possible that these existential crises we’re fast approaching may be the catalyst we need to collectively rip the blindfold from our eyes and begin moving in a truth-based way upon this earth and creating a healthy world, then we are on the same page.
If there’s something in you that whispers there’s a good chance we make it despite the long odds we appear to be facing, I will tell you a secret: I hear it too.
Russian soldiers received ‘shocking amount’ of nuclear exposure at Chernobyl site – some may have less than a year to live.
Ukraine says Russian soldiers stole potentially deadly radioactive substances from Chernobyl,
more – https://www.abc.net.au/news/2022-04-11/russians-stole-radioactive-substance-chernobyl/100981372
Russian forces who occupied the Chernobyl nuclear plant stole potentially deadly radioactive substances from research laboratories, Ukraine’s State Agency for Managing the Exclusion Zone says.
Key points:
- Ukraine recently took back control of the Chernobyl site
- Ukraine’s energy minister says some Russia soldiers have less than a year to live
- Chernobyl plant staff have just been rotated for the second time since Russian forces seized the facilities
Moscow’s troops seized the defunct power plant on the first day of their invasion of Ukraine on February 24. They occupied the highly radioactive zone for over a month, before retreating on March 31.
The agency said on Facebook that Russian soldiers pillaged two laboratories in the area.
It said the Russians entered a storage area of the Ecocentre research base and stole 133 highly radioactive substances.
Even a small part of this activity is deadly if handled unprofessionally,” the agency said.
‘Shocking’ amount of nuclear exposure
Earlier this week, Ukraine’s energy minister German Gulashchenko said Russian soldiers exposed themselves to a “shocking” amount of nuclear radiation, saying some of them may have less than a year to live.
“They dug bare soil contaminated with radiation, collected radioactive sand in bags for fortification, breathed this dust,” Mr Gulashchenko said on Facebook on Friday after visiting the exclusion zone.
“After a month of such exposure, they have a maximum of one year of life. More precisely, not life but a slow death from diseases. “Every Russian soldier will bring a piece of Chernobyl home. Dead or alive.”
He said Russian military equipment was also contaminated.
“The ignorance of Russian soldiers is shocking.”
The Chernobyl power station was the site of the world’s worst nuclear disaster in 1986.
Situation ‘far from normal’
The International Atomic Energy Agency said Ukraine had been able to rotate staff at the decommissioned Chernobyl nuclear plant for only the second time since Russian forces seized the facility early in the war.
They had to be transported to and from the site by water, with the Pripyat River being the only way for people living in the city of Slavutych to currently reach the plant.
The nuclear agency said the situation around Chernobyl, site of a 1986 nuclear disaster, “remained far from normal” after Russians departed at the end of March.
Ukrainian officials told the agency on Sunday that laboratories for radiation monitoring at the site were destroyed and instruments damaged or stolen.
The automated transmission of radiation monitoring data has been disabled.
The US-Australia-UK pact seems determined to pursue great power competition at the risk of real conflict.
APRIL 11, 2022
Written by
Sarang Shidore
The leaders of the United States, United Kingdom and Australia — the three nations that form the AUKUS security grouping— have issued a joint statement recently on deepening their cooperation to include new technologies. The statement spoke of “new trilateral cooperation on hypersonics and counter-hypersonics, and electronic warfare capabilities, as well as to expand information sharing and to deepen cooperation on defense innovation.”
AUKUS is an explicitly military pact announced in September 2021 aimed to counter China in the Asia-Pacific. It has been generally portrayed as an agreement to transfer highly sensitive nuclear submarine technology to Australia and equip Canberra with such craft. Since then, the submarine plans have made some progress, with the Exchange of Naval Nuclear Propulsion Information Agreement signed by the three countries, which allows sharing of sensitive data. Australian Prime Minister Scott Morrison has also announced the earmarking of an additional base for nuclear submarines on the country’s east coast.
But AUKUS is as much, or even more, about other defense technologies such as cyber, artificial intelligence, quantum physics, and others to which hypersonics is just the latest addition. The likely reason for adding the latter is China’s own progress in this technology, with a recent test that was seen in the United States as a breakthrough. The United States is widely considered to be behind China and Russia in hypersonic technology. However, Washington is very much implicated in Chinese advances. The United States probably sparked China’s drive for hypersonics when it withdrew from the bedrock Anti-Ballistic Missile (ABM) treaty in 2001.
Last year, I wrote about the dangers and risks AUKUS presents to the stability and security of Asia. These include setting a poor precedent for curbing nuclear proliferation, problematic weaponization of norms and values claims, the perception of an Anglo-Saxon club in Asia, and risks of sparking a new arms race. Deterrence has a place in any U.S. approach toward China, but the U.S. Indo-Pacific strategy is heavy on deterrence and light on reassurance. The inclusion of hypersonics in AUKUS is simply another sign that we have entered a world of decreasing safeguards against chances of great power conflict with all its potential to go nuclear. Nuclear war, more than the rise of China, is a core and existential threat to the United States.
Last year, I wrote about the dangers and risks AUKUS presents to the stability and security of Asia. These include setting a poor precedent for curbing nuclear proliferation, problematic weaponization of norms and values claims, the perception of an Anglo-Saxon club in Asia, and risks of sparking a new arms race. Deterrence has a place in any U.S. approach toward China, but the U.S. Indo-Pacific strategy is heavy on deterrence and light on reassurance. The inclusion of hypersonics in AUKUS is simply another sign that we have entered a world of decreasing safeguards against chances of great power conflict with all its potential to go nuclear. Nuclear war, more than the rise of China, is a core and existential threat to the United States.
1 This Month
26 April – Chernobyl: Inside the Meltdown airs on National Geographic on Sunday 26th April from 4pm
29 April – Nuclear Expert Webinar #1 – Radiation Impacts on Families with Mary Olson and Cindy Folkers
- 12:15 PM MT – 1:45 PM MT
- Location: Virtual – REGISTER TODAY
4 May -West Suburban Peace Coalition to discuss Iran war at May Educational Forum
Monday, May 4, 7:00 – 8:00 PM Central Standard Time
Title: : How Trump’s Narrative Tries to Shape the Reality of the War on Iran.
Contact Walt Zlotow, zlotow@hotmail.com 630 442 3045 for further information
14 May – online event From Bombs to Data Centres: the Face of Nuclear Colonialism
Pine Ridge Uranium is the real threat, not Tehran- Tell Burgum: Stop the Extraction.
Chernobyl: The Lost Tapes – A good documentary on Chernobyl on SBS available On Demand for the next 3 weeks– https://www.sbs.com.au/ondemand/tv-program/chernobyl-the-lost-tapes/2352741955560
To see nuclear-related stories in greater depth and intensity – go to https://nuclearinformation.wordpress.com
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