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BHP ditches its monster uranium mine plan

At its peak, the mine was expected to consume more electricity than the city of Adelaide, and 100 Olympic swimming pools worth of fresh water every day.

Olympic Dam was too expensive. 

South Australia will be fine. Mining accounts for a relatively small share of South Australia’s overall economy, and only 1 per cent of its employment.

the carbon emissions from Olympic Dam would have dwarfed all the gains in emissions reductions that South Australia has made in renewable energy in recent years

The Olympic Dam Delay Has A Silver Lining New Matilda, By Ben Eltham 23 Aug 12,  Why did BHP Billiton halt the Olympic Dam mine? The project was just too expensive. The decision is good news for the South Australian environment, writes Ben Eltham

Picture a hole in the ground four kilometres long and one kilometre deep. Picture a manmade mountain of dirt next to it nearly as high — a mountain of dirt dug from the ground and heaped next to that hole, a new landmark on the South Australian horizon.

Picture a mega-project so large and so thirsty that it would have required a new baseload electricity generator to meet its power needs, and a new desalination plant hundreds of kilometres away on the coast to make the water it required.

Picture a mine so vast, it would have increased the world supply of Uranium by a third.

This was the vast edifice that was to be Olympic Dam — when finished, the largest mine in the world.  Continue reading →

August 23, 2012 Posted by | AUSTRALIA, business and costs | Leave a comment

Plan for world’s biggest uranium mine scrapped

The mine would have become the world’s biggest open cut copper and uranium mine at six kilometres long and one kilometre deep.

BHP cancels $30 billion Olympic Dam expansion near Roxby Downs in South Australian Outback  Business Writer Meredith Booth AdelaideNow August 22, 2012   BHP Billiton has shelved its $30 billion Olympic Dam expansion and will go back to the drawing board to find a cheaper alternative…. Continue reading →

August 22, 2012 Posted by | AUSTRALIA, business and costs | 1 Comment

Is Edison planning to keep San Onofre nuclear plant permanently closed?

San Onofre layoffs raise questions about nuclear plant’s future LA Times, August 21, 2012 |  More than six months after a leaking steam generator tube prompted a complete shutdown of the San Onofre nuclear power plant, Southern California Edison officials announced plans to lay off nearly one-third of its workforce, leading many to wonder if the troubled plant would ever fully reopen. Continue reading →

August 22, 2012 Posted by | business and costs, USA | 1 Comment

Direct Investments in Renewable Energy Increasingly Attractive to Pension Funds, Insurers  Triple Pundit, By Andrew Burger | August 17th, 2012 Institutional investors, such as pension funds and insurance companies, are increasingly investing directly in wind, solar and other renewable energy projects, providing much needed capital to companies in the fast-growing clean energy sector even as banks, still suffering from accumulated bad loans and high debt levels, have tightened lending standards and struggle to raise capital to shore up their finances.

This is particularly true in Europe, where banks find themselves caught in a web of bad debts accumulated from prior their own housing and property lending and investments and subsequent government efforts to bail them out with sovereign debt, which has led them to purchase large amounts of euro zone treasury securities.  Multinational insurer Munich Re’s bought three UK wind farms with a combined 102-MW capacity, boosting the total amount it’s invested in renewable energy projects to more than €600 million ($737 million), Bloomberg News reported on Aug. 12 . Looking to reduce its reliance on bank loans, Swedish renewable energy project developer Arise Windpower AB is turning to pension funds and other institutional investors to help finance its new projects …. http://www.triplepundit.com/2012/08/renewable-energy-pension-funds/

August 18, 2012 Posted by | business and costs, renewable | Leave a comment

Japan showing how it manages well WITHOUT nuclear power

With summer soon ending, fears that Japan couldn’t function without nuclear power during summer periods of heaviest electricity demand are being proven unfounded.

Dire predictions of what would happen to the Japanese economy without restarting reactors haven’t held up. 

 As More About Fukushima Contamination and Casualties Is Known, Japan Proceeding Without Nuclear Reactors,  Samuel S. Epstein Cancer prevention expert, Prof. emeritus at U. of IL School of Public Health, Chicago HUFFINGTON POST, 16 Aug 12,    “….the impact of Fukushima continues…..
………..Aside from the changes in health, Fukushima has also had a major impact on public policy. . Within days of the meltdowns, Germany shut some reactors, four of them permanently; the Merkel government then announced a plan to phase out all remaining reactors by 2022. Belgium and Switzerland soon followed with similar phase-out plans.
Italy, which has no operating reactors, placed a moratorium on plans to build new ones. Newly-elected French president Hollande campaigned on a pledge to drop the percent of French electricity from nuclear power from 75% to 50% by 2030.

But the biggest development has taken place in Japan,….. Continue reading →

August 17, 2012 Posted by | business and costs, Japan | 3 Comments

Fort Calhoun nuclear plant to be run by private company

Private firm to run nuclear plant Omaha.com By Erin Golden, 16 Aug 12,    BLAIR, Neb. — The Omaha Public Power District is planning to turn over control of Fort Calhoun Nuclear Station to a private company — a move the district’s board says is essential if the plant is to reopen.

In a meeting Thursday night at Blair City Hall, the board voted unanimously to allow OPPD officials to negotiate a 20-year contract with Exelon Corp. for day-to-day operations of the troubled plant, which is about 20 miles north of Omaha.

The plant’s reactor has been shut down since April 2011 because of concerns over Missouri River flooding and a series of safety violations. The U.S. Nuclear Regulatory Commission, which is overseeing the facility, has not set a restart date for Fort Calhoun.

One board member, John Green, said it has become clear that the NRC
was interested in outside management of the facility. “I’ve been convinced over the last few months … that we weren’t going to be able to open the plant without doing this,” Green said.

Gary Gates, the utility’s CEO, said the district has been considering looking to an outside company for some time and has been negotiating with Exelon for a month….. An NRC spokesman declined to comment….. http://www.omaha.com/article/20120817/NEWS/708179925/1685

August 17, 2012 Posted by | business and costs, USA | Leave a comment

“No way that banks would provide financing” for nuclear power , says bank chairman

Bank chairman stands defiant with blunt anti-nuclear message, The Mainichi, 15 Aug 12, I was hardly getting anywhere trying to write about “hope” and the general election that’s supposed to come sooner or later when Tsuyoshi Yoshiwara, chairman of Johnan Shinkin Bank, appeared on television.

“Can the member corporations of the Keidanren (the Japan Business Federation) buy out nuclear reactors themselves and operate them?” he asked, point blank.

“There’s no way banks would provide financing,” he continued. “Corporations propose something (the continuation of nuclear reactors) that they can’t even do on their own, knowing full well that the burden will ultimately fall on the public. And yet they say that what they propose is ‘realistic.’ That makes no sense, and is most irresponsible.” Continue reading →

August 16, 2012 Posted by | business and costs, Japan | Leave a comment

EDF Delays Start Of Three Nuclear Plants: Current Halts Bloomberg, By Rachel Morison – Aug 14, 2012 Electricite de France SA, delayed the start of its Chooz B-2, Cruas-1 and Paluel-3 nuclear power plants, according to data on the website of
grid operator Reseau de Transport d’Electricite.
EDF gave start dates for its Chinon B-1, Fessenheim-2 and
Gravelines-1, RTE data show. The start date for Cruas-4 was removed
from RTE’s website.
The world’s biggest nuclear power plant operator has 37 reactors
online, representing 64 percent of available nuclear capacity, RTE
data show. That’s the lowest since June 20. EDF’s 58 atomic plants
generate about 78 percent of France’s
power….http://www.bloomberg.com/news/2012-08-14/edf-delays-start-of-three-nuclear-plants-current-halts-table-.html

August 15, 2012 Posted by | business and costs, France | Leave a comment

Nuclear power industry lost $46 billion – and that’s its good news

Utilities lose $46 billion as nuclear era nears end, Japan Times, 14 Aug 12, Shareholders at risk amid efforts to break up power monopolies Bloomberg The nuclear power industry has lost a record $46 billion since the earthquake and tsunami disasters led to three meltdowns at the Fukushima No. 1 power plant last year, wiping out seven years of profit.

Then came the bad news. Continue reading →

August 14, 2012 Posted by | business and costs, Japan | Leave a comment

German utility company thriving following exit from nuclear power

E.ON triples net profit as nuclear past fades  Aug 13, 2012  
* H1 net 3.13 billion euros vs 948 million year ago

* Trading and Optimisation unit seen posting full-year profit

* Could close some power plants

* Shares up 1.2 pct (Recasts, adds trading unit, analyst)

By Christoph Steitz and Vera Eckert FRANKFURT, Aug 13 (Reuters) – E.ON AG, Germany’s largest utility, said net profit more than tripled in the first half of the year, benefiting from a gas price deal with Russia’s Gazprom and absence of charges related to Germany’s exit from nuclear power.

German utilities have posted strong first-half results so far, thanks to renegotiated gas purchase contracts and higher selling prices, in a recovery from the downturn caused by the government’s decision last year to shut nuclear power stations.

Last month, EnBW, Germany’s third-largest utility, said first-half sales at its gas unit rose a third because of an expansion in gas trading activity….
http://in.reuters.com/article/2012/08/13/eon-results-idINL6E8JD1220120813

August 14, 2012 Posted by | business and costs, Germany | Leave a comment

Up to 113,845 jobs in clean energy for Michigan

“It’s a job creating machine, with the added benefit of cleaner air, improved public health and healthier communities.”

All told, the initiative would create between 74,495 and 113,845 jobs in Michigan..

 Renewable energy ballot measure called ‘job creating machine‘ By Karen Bouffard Detroit News Lansing Bureau, August 10, 2012 Lansing— At least 74,000 jobs would be created if voters approve a proposed ballot measure that requires 25 percent of energy to come
from renewable sources by 2025, according to a Michigan State University study released Friday.

Results of the study were announced by supporters of the Michigan Energy Michigan Jobs renewable energy ballot proposal, which is opposed by utility companies and business groups. The higher renewable electricity standard would create more than $10
billion in investments, according to the study. Continue reading →

August 11, 2012 Posted by | employment, renewable, USA | Leave a comment

$39 billion loss for Australian uranium miner Paladin

Uranium mine lost K39 billion in 2011 , The Maravi Post, 10 Aug 12 BLANTYRE–The Kayekelera uranium mine in Karonga, which is operated by Paladin Energy Limited of Australia, lost K39 billion in nine months of operation ending March 2012 due to fluctuating prices of the commodity on the international market, the company’s top official has said.

Greg Walker, general manager for international affairs, told the Daily Times Business that the loss was a result of the historic earthquake in Japan that produced a Tsunami in March last year. Spot price for uranium oxide dropped from $75 (some K21, 000) to $47.50 (K13, 000) after the closure of Fukushima nuclear plant in Japan.

Walker said now the price is at $49.50 -K14,000 – saying this was below the direct cost of production at Kayelekera, the country’s biggest investment. Walket told the daily that Paladin have bankrolled $145 million–K41 billion- to keep the mine afloat… http://www.maravipost.com/malawi-news/society/1486-uranium-mine-lost-k39-billion-in-2011.html#.UCbaJ6FlT4Y

August 11, 2012 Posted by | AFRICA, AUSTRALIA, business and costs | Leave a comment

U.S. Freezes All Nuclear Power Plant Licensing Decisions

most of the 19 reactor projects are already “essentially sidetracked by the huge problems facing the nuclear industry, including an inability to control runaway costs, and the availability of far less expensive energy alternatives.”

ongoing descent into fiasco of the bubble once known as ‘the nuclear renaissance,’”

WASHINGTON, DC, August 7, 2012 (ENS) – Federal nuclear regulators today froze at least 19 final reactor licensing decisions in response to a ruling by the U.S. Court of Appeals for the DC Circuit that spent nuclear fuel stored on-site at nuclear power plants “poses a dangerous, long-term health and environmental risk.”

In its ruling, the appeals court invalidated the U.S. Nuclear Regulatory Commission’s 2010 updates to the Waste Confidence Rule and also the Temporary Storage Rule and directed the commission to fully comply with federal law.

In response, the NRC today put a hold on nine construction and operating licenses, eight license renewals, one operating license, and one early site permit.

The court noted that, after decades of failure to site a permanent geologic repository, including 20 years of working on the now-abandoned Yucca Mountain repository in Nevada, the NRC “has no long-term plan other than hoping for a geologic repository.”

Therefore, it is possible that spent fuel will be stored at reactor sites “on a permanent basis,” the court said.

In its order today, the five-member NRC said, “Waste confidence undergirds certain agency licensing decisions, in particular new reactor licensing and reactor license renewal.”

“Because of the recent court ruling striking down our current waste confidence provisions, we are now considering all available options for resolving the waste confidence issue, which could include generic or site-specific NRC actions, or some combination of both,” the agency said. “We have not yet determined a course of action.”

“In recognition of our duties under the law, we will not issue licenses dependent upon the Waste Confidence Decision or the Temporary Storage Rule until the court’s remand is appropriately addressed,” the NRC said.

The NRC’s order extends only to final license issuance. “All licensing reviews and proceedings should continue to move forward,” the agency said.

The case was originally brought to the appeals court by four states led by New York State, as well as a native Indian community and several environmental groups.

New York Attorney General Eric Schneiderman brought legal action against the NRC because of his concerns about Entergy’s relicensing application for two reactors at Indian Point power plant on the Hudson River at Buchanan, New York, just 24 miles north of New York City. Entergy’s license to operate Indian Point expires on September 28, 2013.

Schneiderman said today, “The storage of nuclear waste at nuclear power facilities poses long-term health and environmental risks, including the risk of leaks from spent fuel pools and fires. Despite this, the NRC has refused my repeated requests to address the serious risks of long-term, on-site storage of nuclear waste in Indian Point’s relicensing proceeding.” Continue reading →

August 9, 2012 Posted by | business and costs, USA | Leave a comment

Nuclear power workers co-operate in deception, in order to keep their jobs

Nuclear power plants: A hidden world of untruths, unethical behavior August 06, 2012 THE ASAHI SHIMBUN The long and the short of it is this: Nuclear power plants probably would not operate properly in Japan if workers were not willing to sacrifice their health, and possibly their lives.

It emerges that workers at nuclear plants routinely resorted to ingenious ways to conceal the true levels of radiation to which they were exposed–simply to go on earning a living. Continue reading →

August 8, 2012 Posted by | employment, Japan, secrets,lies and civil liberties | Leave a comment

Budget of Nuclear Regulatory Commission – Incredible in the true sense of the word

Nuclear Agency Can’t Ensure Their Own Budget is Credible  http://pogoblog.typepad.com/pogo/2012/08/nuclear-agency-cant-ensure-their-own-budget-is-credible.html  By MIA STEINLE
The agency responsible for the nation’s nuclear weapons cannot ensure its own budget is credible, which may result in overspending, according to a federal investigative office.

The National Nuclear Security Administration “does not thoroughly review” the budget estimates it compiles from U.S. nuclear weapon sites before it draws up its annual budget request to Congress,  request to Congress, according to the Government Accountability Office    (GAO). The eight nuclear weapons sites are managed and operated by private contractors for the government.

Senior agency officials told the GAO that there is an “inherent trust” between the agency and the nuclear sites. Additionally, they said that a lack of “financial and personnel resources” mean a formal review of the budget is unrealistic.

The National Nuclear Security Administration is a semiautonomous agency within the Department of Energy. It is “responsible for the nation’s nuclear weapons, nonproliferation, and naval reactors programs,” according to the GAO. Its proposed budget for fiscal year 2011 is more than $11.5 billion, which is almost half of the entire Department of Energy budget.

Agency officials also told the GAO that they don’t follow a Department of Energy policy that requires a formal review of the budget because it expired in 2003. However, department officials told the GAO the policy still stands.

“By not adhering to these provisions,” the GAO said the agency “is reducing the creditability of its budget proposals.”
The GAO report comes at a time when rising costs of nuclear weapons projects are turning into “a serious liability for the [agency] as it tries to fend off criticism from Congress,” John Fleck reported for the Albuquerque Journal . He cited the proposed nuclear facility at Los Alamos National Laboratory in New Mexico as a point of contention. The GAO noted that the cost of this project has increased sixfold since its inception.

The GAO also cited the rising cost of the Uranium Processing Facility in Tennessee as a concern. Given the agency’s “record of weak management of major projects,” the GAO said improved oversight of the agency is necessary to ensure responsible spending.

August 8, 2012 Posted by | business and costs, USA | Leave a comment