World’s richest men enthuse over new nuclear power, despite its poor progress

The world’s richest people are going nuclear, By Lizette Chapman, SMH, March 24, 2022 — In recent weeks, some of Silicon Valley’s most famous technologists have hailed a historically polarising energy source — nuclear power — as a solution to both cutting carbon emissions and weaning the world off now-controversial Russian gas.

Billionaire entrepreneur Elon Musk wrote on Twitter that nuclear is “critical” to national security, while the risk of radiation is overplayed. And venture capitalist Marc Andreessen called for “1,000 new state-of-the-art nuclear power plants in the US and Europe, right now.”
The war galvanised a sentiment which has been building in recent years in the startup world, where billionaires including Bill Gates, Jeff Bezos and Peter Thiel have opened their wallets to back next-generation nuclear companies. None of the advanced reactor startups has yet produced an operating commercial product, but some believe that the combination of tech advances and a new urgency around ditching fossil fuels could be a catalyst for the sector — which has mostly languished in regulatory purgatory since the 1970s.
“We wouldn’t be having a conversation about innovation in nuclear power today without the investment and thinking of the leaders of Silicon Valley,” said Josh Freed, who specialises in climate and energy at public policy think tank Third Way in Washington.
Last year, venture investors ploughed a record $US3.4 billion into nuclear startups — more than in every year over the past decade combined, according to research firm PitchBook. That number reflects very early-stage startups as well as more mature companies like Commonwealth Fusion Systems and Helion Energy, both of which raised funding rounds of $US500 million or more in 2021. In the previous decade there was an average of fewer than 10 deals a year. Last year the number jumped to 28.
“We wouldn’t be having a conversation about innovation in nuclear power today without the investment and thinking of the leaders of Silicon Valley,” said Josh Freed, who specialises in climate and energy at public policy think tank Third Way in Washington.
Last year, venture investors ploughed a record $US3.4 billion into nuclear startups — more than in every year over the past decade combined, according to research firm PitchBook. That number reflects very early-stage startups as well as more mature companies like Commonwealth Fusion Systems and Helion Energy, both of which raised funding rounds of $US500 million or more in 2021. In the previous decade there was an average of fewer than 10 deals a year. Last year the number jumped to 28.
Nuclear energy development not possible in USA, unless it is tax-payer funded?

What Is Holding U.S. Nuclear Energy Back? OilPrice.com 21 Mar 22,
”……….There are three basic business risks associated with nuclear power for an investor-owned utility: financing, operating, and sales. (Four if you add in new construction risk which is not inconsequential.) The simple reason no US investor-owned utility — apart from Southern Company’s Plant Vogtle—- is building or considering new nuclear investments is the first risk, financing. To paraphrase a former NYC mayoral candidate, the capital costs are “too damn high”. By any metric, nuclear power is economically uncompetitive. According to the recent Lazard study comparing the cost of new power generation, it is about three times more costly than natural gas and five times more costly than new wind and solar.
This begs an obvious question. How can we have more of something if it is wildly, economically uncompetitive? The answer is simple: eliminate the consideration of economics from new power plant development. Take for example a large nuclear construction project at Turkey’s four-unit Akuyu nuclear power station. In the US that is a $40+billion capital project. No US investor-owned utility has the balance sheet to handle multiple unit projects of that size. Only the US government has the borrowing capacity for projects of that magnitude and risk. This, in turn, suggests that new nuclear power plant development will only occur in the US If we compromise on our free enterprise principles and take new nuclear plant development out of the private sector entirely. These enormous financing risks are now impossible to comfortably absorb in a corporate setting where they must be constantly balanced against shareholder interests. ….’
UK’s Business secretary Kwasi Kwarteng considering launching State-owned nuclear company

Government ministers are mulling over plans to launch a state-owned
nuclear company, which would assume stakes in future domestic projects.
Business secretary Kwasi Kwarteng is considering the move as he looks to
speed up the development of nuclear plants – which have suffered years of
delays- and reduce the UK’s reliance on foreign energy, according to The
Sunday Times.
City AM 20th March 2022
What the nuclear industry and its supporters have to say about the economic viability of nuclear power:

https://www.facebook.com/groups/1021186047913052 Jim Green, 20 Mar 22, What the nuclear industry and its supporters have to say about the economic viability of nuclear power: Nuclear Fuel Cycle Watch Australia
* “I don’t think we’re building any more nuclear plants in the United States. I don’t think it’s ever going to happen. They are too expensive to construct.” ‒ William Von Hoene, Senior Vice-President of Exelon, 2018.
* Nuclear power “just isn’t economic, and it’s not economic within a foreseeable time frame.” ‒ John Rowe, recently-retired CEO of Exelon, 2012.
* “It’s just hard to justify nuclear, really hard.” ‒ Jeffrey Immelt, General Electric’s CEO, 2012.
* “We see renewables plus battery storage without incentives being cheaper than natural gas, and cheaper than existing coal and existing nuclear.” ‒ Jim Robo, NextEra CEO, 2019.
* France’s nuclear industry is in its “worst situation ever”, a former EDF director said in November 2016 ‒ and the situation has worsened since then.
* Nuclear power is “ridiculously expensive” and “uncompetitive” with solar. ‒ Nobuo Tanaka, former executive director of the International Energy Agency, and former executive board member of the Japan Atomic Industrial Forum, 2018.
* “In developed markets, we see little economic rationale for new nuclear build. Renewables are significantly cheaper and offer quicker payback on scalable investments at a time when power demand is stagnating. New nuclear construction requires massive upfront investments in complex projects with long lead times and risk of major cost overruns.” ‒ S&P Global Ratings, 2019.
* Compounding problems facing nuclear developers “add up to something of a crisis for the UK’s nuclear new-build programme.” ‒ Tim Yeo, former Conservative parliamentarian and now a nuclear industry lobbyist, 2017.
* “It sometimes seems like U.S. and European nuclear companies are in competition to see which can heap greater embarrassment on their industry.” ‒ Financial Times, 2017, ‘Red faces become the norm at nuclear power groups’.
* “I don’t think a CEO of a utility could in good conscience propose a nuclear-power reactor to his or her board of directors.” ‒ Alan Schriesheim, director emeritus of Argonne National Laboratory, 2014.
* “New-build nuclear in the West is dead” due to “enormous costs, political and popular opposition, and regulatory uncertainty” ‒ Morningstar market analysts Mark Barnett and Travis Miller, 2013.
* “Nuclear construction on-time and on-budget? It’s essentially never happened.” ‒ Andrew J. Wittmann, financial analyst with Robert W. Baird & Co., 2017.
* “Nuclear power and solar photovoltaics both had their first recorded prices in 1956. Since then, the cost of nuclear power has gone up by a factor of three, and the cost of PV has dropped by a factor of 2,500.” ‒ J. Doyne Farmer, Oxford University economics professor, 2016.
References at:
Nuclear Power’s Economic Crisis and its Implications for Australia – Nuclear-Free Campaign
European countries make an exception for uranium from Russia – no sanctions on importing that!

So far, the EU has not put uranium on any sanctions list. Because only Russia can supply suitable fuel rods for many Eastern European nuclear power plants. Without Russia, the technicians at the Bohunice nuclear power plant in western Slovakia have a problem.
Here it is easy to imagine what an immediate embargo on raw materials from Russia would mean. They need uranium to keep the electricity flowing. But there is only one supplier who can supply the reactors with fuel. And that is, of all things, a Russian state-owned company. Slovakia has put itself in an awkward position.
Now Putin is bombing Ukraine. And yet uranium imports must continue. Of course, even Germany has not yet been able to bring itself to impose an energy embargo – the fear of skyrocketing prices, unemployment and cold living rooms is too great. But other European states also have red lines.
It is no coincidence that uranium is not on any EU sanctions list so far.
Sueddeutsche Zeitung 17th March 2022
https://www.sueddeutsche.de/wirtschaft/energie-atomkraft-uran-russland-1.5549686
Ukraine war a bonanza for Lockheed Martin, Raytheon, General Dynamics, Northrop Grumman and more

Less than three full months into 2022, Lockheed Martin’s stock has surged by more than 25%, while the share prices of Raytheon, General Dynamics, and Northrop Grumman have also risen by roughly 12%, 14%, and 16%, respectively.
War in Ukraine a Windfall for Weapons Industry
Military contractors “will benefit, and in the short term we could be talking about tens of billions of dollars, which is no small thing, even for these big companies,” said one analyst. Common Dreams KENNY STANCIL, March 15, 2022,
Russia’s deadly assault on Ukraine is a bonanza for arms manufacturers, which are lined up to profit as the United States and its allies increase military spending in an effort to bolster Kyiv’s forces.
William Hartung, a senior research fellow at the Quincy Institute for Responsible Statecraft, told The Hill on Tuesday that “there’s a lot of possibilities for ways that the contractors will benefit, and in the short term we could be talking about tens of billions of dollars, which is no small thing, even for these big companies.”
In the weeks since Russian President Vladimir Putin ordered his troops to invade, lawmakers in the U.S. Congress approved a record-setting Pentagon budget, and their counterparts in several European countries also vowed to significantly boost military spending to counteract Moscow.
The $1.5 trillion government funding bill that U.S. President Joe Biden signed Friday greenlights an astronomical $782 billion in military spending—an increase of 6% over last year and nearly $30 billion above the White House’s initial request. The package also provides $6.5 billion in military aid to Eastern European nations, including $3.5 billion worth of additional weapons for Ukraine.
As The Hill reported, the extra support for Ukraine “comes on top of more than $1 billion the U.S. has already spent in the past year to arm Ukrainian soldiers with modern weapons, including Javelin anti-tank missiles, manufactured by Lockheed Martin and Raytheon Technologies, and Raytheon’s anti-aircraft Stinger missiles.”
One arms industry lobbyist told the news outlet that an immediate effect of the U.S. ramping up weapons shipments to Ukraine is that “we’re going to have to backfill some of that ourselves, so that will force the Pentagon to buy more from some of the defense companies.”
As for longer-term implications, the lobbyist said that Democratic and Republican lawmakers alike expect to pass an even larger military budget next year, which “will pump more money into procurement and into [research and development].”
The U.S. is not the only country where military contractors are anticipating a bump in sales. Over the past few weeks, European countries including Germany, Italy, Poland, and Sweden have announced that they will boost military spending………….
“We are proud of the confidence the German Federal Ministry of Defense and Luftwaffe officials have shown in choosing the F-35,” Lockheed Martin said in a statement.
Less than three full months into 2022, Lockheed Martin’s stock has surged by more than 25%, while the share prices of Raytheon, General Dynamics, and Northrop Grumman have also risen by roughly 12%, 14%, and 16%, respectively.
Even before the Kremlin attacked Ukraine last month, arms manufacturers could hardly contain their excitement over the prospect of war, which they explained would be good for their bottom lines.
AsThe Hill reported:…………………………………
The weapons industry lobbyist told the news outlet that higher military spending in Europe would be a boon for U.S.-based military contractors:…………..
One day after Putin launched his full-scale invasion of Ukraine, the Quincy Institute’s Hartung warned against letting corporations and their allies in government use the war in Ukraine as a pretext for showering the military-industrial complex with even more money.
A week later, he argued that such a move would be “counterproductive” and potentially detrimental to U.S. security, echoing calls from anti-war groups that have long pushed for reallocating a portion of the Pentagon’s bloated budget to meet pressing human needs…………………
Last year, researchers at Brown University’s Costs of War project estimated that as much as half of the $14 trillion spent by the Pentagon alone since its 2001 invasion of Afghanistan has gone to private military contractors.
Lindsay Koshgarian and her colleagues at the Institute for Policy Studies’ National Priorities Project and Stephen Semler of the Security Policy Reform Institute, meanwhile, have estimated that corporations gobbled up more than half. https://www.commondreams.org/news/2022/03/15/war-ukraine-windfall-weapons-industry
The Ukraine war is bad for USA’s nuclear industry- hard to get the Highly Enriched Uranium needed from Russia for Advanced Nuclear Reactors
How Russia’s invasion is affecting U.S. nuclear, EE News, By Hannah Northey | 03/14/2022
Russia’s invasion of Ukraine is raising questions about the cost and flow of fuel to existing and yet-to-be commercialized advanced U.S. reactors touted by advocates as a tool for tackling climate change.
President Biden didn’t target the nuclear sector when he issued an executive order this month to block imports of Russian crude and natural gas.
But as the war drags on for a third week, the White House is consulting with the nuclear sector about the potential impact of imposing sanctions on Rosatom, Russia’s state-owned atomic energy company, according to Bloomberg, which cited anonymous sources familiar with the matter.
The White House did not immediately confirm talks with the nuclear industry.
Sanctions on Rosatom, sources told E&E News, could pose long-term challenges for the United States’ fleet of more than 90 reactors running on low-enriched uranium.
While the existing plants have enough fuel for the next six to eight months and possibly longer, experts say sanctions on Russian imports could raise the global cost of low-enriched uranium and rile U.S. plants sensitive to cost swings. Russia supplies 20 percent of the low-enriched uranium needed to run American nuclear plants, according to the Nuclear Energy Institute.
Others say the larger concern may sit with advanced reactor demonstrations expected to come online around 2028 that will require high-assay, low-enriched uranium, or HALEU. That’s because Russia is the only viable commercial supplier globally and other firms are years away from readily providing such fuel, they say.
Groups like Beyond Nuclear have said the Russian invasion highlights the liability of nuclear power and spent fuel, arguing the fuel source cannot be a climate solution.
Frank von Hippel, a physicist and professor emeritus at Princeton University, said the bigger challenge for nuclear power is that the technology is not economically competitive…………..
Russia represents— about 20 percent in 2020 — of the enriched uranium making its way to American reactors. Concerns about what steps the Biden administration would take regarding uranium began surfacing publicly when Reuters, citing sources familiar with the matter, reported earlier this month that NEI urged the White House to keep uranium sales exempt from sanctions (Energywire, March 3)…………………
Focus on advanced reactors
Possible sanctions on Russia could affect the current timeline for the deployment of advanced reactors in the U.S., said Jeff Merrifield, who sat on the Nuclear Regulatory Commission during the Clinton and George W. Bush administrations and is now a Pillsbury Winthrop Shaw Pittman LLP law firm partner.
Merrifield agreed Russia is the most readily available short-term option for providing fuel for advanced reactors that will need HALEU, uranium that’s enriched between 5 percent and 20 percent — higher rates that allow smaller designs to get more power for their size.
The first projects that would need a steady source of HALEU could be the Energy Department’s advanced reactor demonstration program, including a TerraPower plant in Wyoming and an X-energy project in Washington state. Those plants are expected to come online around 2028.
To be sure, sources of HALEU outside Russia are emerging — but industry and regulatory sources E&E News spoke with said it’s a matter of demand and timing as advanced reactors come online…………… https://www.eenews.net/articles/how-russias-invasion-is-affecting-u-s-nuclear/
Hypocritical cries of grief from weapons and other corporate businesses, as Western governments and media ramp up war fever.
[Ed. Here is the later part of this long article, which first details the history of other criminal wars, and the background to Russia’s understandable fear of Western aggression. I urge you to read the entire article, – while this bit examines only the current Ukraine situation]

Supporting this God-given path are not only big-biz executives, financiers, and military brass, but also a subservient media, obedient politicians aiming at highly-paid jobs when they leave politics, a number of labor leaders, and power holders in academia. They all form the Establishment, one quite similar in all so-called free and free market democracies, except that for over 80 years the U.S, sector has asserted its role in the pack as alpha wolf.
A Criminal War Ushers in the Worst of Times in Ukraine, Russia, and Europe
My overriding hope is that current talks may lead to peace, to an end of death and destruction, and to the repair and renewal of all efforts to build a world without exploitation, without aggrandizement, without aggression, without war.
Portside, March 12, 2022 Victor Grossman ”…………………………………………….Every single wartime death or wound is terrible; every missile, every bullet is unnatural. There are too many similar tragedies now in Ukraine. Yet, while writing this, I find myself thinking: Despite each and every tragedy—thank goodness that Ukraine has not been hit like Iraq in 2003, with the death of hundreds of thousands. Yet alas, while I see the Brandenburg Gate lit up with Ukrainian blue and yellow, I recall no Iraqi colors there in 2003, nor those of Palestinians in 2014 after the death of 547 children during the bombing of Gaza.
In the years that followed, as military campaigns in Iraq, Afghanistan, and elsewhere mired down or lost, symbols, slogans, and catchwords about terror wore thin, the fearfulness of words like Islamism, communism, and socialism eroded, like Bolshevism and anarchism in earlier eras. The gargoyle faces, the grayed grimaces of Reagan’s Evil Empire warnings in 1983 needed replacement, for the pressures remained. Putin’s angular face and physique often have to suffice—or is the yellow peril back in play? And what are those pressures, refurbished but still very real?

Some are easy to call by name: Lockheed, Northrop-Grumman, Raytheon, friendly German rivals like Rheinmetall, Krupp, Maffei—and a further limited list. They earn their billions by producing and selling their products, which must constantly be multiplied, replaced—or used.
Thus, while military actions by Putin or any others may be treated by such folk with loud cries of condemnation or sympathy for the victims, behind their dampened Kleenex hankies we can sense their jubilation as military budgets soar, now nearly $780 billion a year in Washington, and the German government, previously tugged one way by traders with Russia or China, now being overwhelmed by the military monopolies, ambitious expansionists, and devoted Pentagon friends who, since the march into Ukraine, have gained the upper hand.
The military budget in Berlin now aims at topping the 50-billion-euro level, with ever more spending for jets, frigates, armed drones, and more personal armor as well; after all, those patriotic lads or lasses in uniform must not be neglected, but always sent well-armored to their deaths.
And how many have the courage to disapprove of all of this? To vote against it, in the Capitol or the Bundestag? Only a very, very few, now angrily disqualified or ignored.
Not only manufacturers of armaments are waving blue-yellow flags with one hand and concealing profit calculations with the other. If their real hopes come true, if Putin’s move goes awry and ends up with a regime change in Red Square, as in Maidan Square in 2014 but far bigger, what new opportunities would be opened up!
….……. Many are surely dreaming of wide new Eurasian monoculture, of unlimited raw materials, new markets, skilled proletarians. Tyson and Cargill, Bayer and BASF, GM and Daimler, Nestlé and Unilever, Murdock and Springer, Facebook and Amazon must certainly be checking electronic atlases for maps reaching from Smolensk to Vladivostok—and across the Amur River, too, where great multitudes could then be reached so much more easily.
What this all adds up to is a continuing hope for world hegemony—always with God’s help of course. Sen. Mitt Romney, once a candidate for the presidency, put it clearly:

“God did not create this country to be a nation of followers. America is not destined to be one of several equally balanced global powers. America must lead the world, or someone else will. Without American leadership, without clarity of American purpose and resolve, the world becomes a far more dangerous place, and liberty and prosperity would surely be among the first casualties.”
Supporting this God-given path are not only big-biz executives, financiers, and military brass, but also a subservient media, obedient politicians aiming at highly-paid jobs when they leave politics, a number of labor leaders, and power holders in academia. They all form the Establishment, one quite similar in all so-called free and free market democracies, except that for over 80 years the U.S, sector has asserted its role in the pack as alpha wolf.
Countries to be “taken out”
In a broadcast with Amy Goodman on March 2, 2007 one vector of a world-wide program was revealed by Gen. Wesley Clark: a memo by then-Defense Secretary Paul Wolfowitz which described “how we’re going to take out seven countries in five years, starting with Iraq, and then Syria, Lebanon, Libya, Somalia, Sudan, and finishing off with Iran.”
The timetable didn’t work out exactly—timetables often don’t—but was close enough. And if Iran could really be tamed once again, as in 1952, Georgia would then be close. And Russia as well.
Another vector was even more crucial. When East German annexation was agreed upon in 1990, Soviet army withdrawal was matched by the American and West German verbal promise to a very trustful Mikhail Gorbachev that NATO would never expand past the Elbe River into East Germany or beyond.
The promise was soon broken. The Pentagon-based NATO moved with its military technology into East Germany and on to Poland, Czechoslovakia, the Balkans, the Baltic countries, thus surrounding all but the southern flank of European Russia with an increasingly tight, hostile ring, featuring broadened, strengthened highways and rail lines pointing eastwards, potential missile launchers in Poland, swift jet planes, fueled and polished, in German and Belgian hangars, with nuclear bombs waiting nearby, and annual aggressive military maneuvers along Russian borders. NATO was spending $111 billion on armaments, Russia $62 billion.
And then north and south were linked. In 2013, Ukrainian President Viktor Yanukovych, no angel, faced a choice between the unsteady but undeniable advantages of economic cooperation with Russia, his country’s main energy supplier, or biting at the bait of promised Western prosperity, with all the luxuries it symbolized for many Ukrainians, especially in its western regions.
The American leadership, thinking no doubt of fat dividends but far more about closing that tight ring, or noose, around Russia and gaining control of Sevastopol, the big naval base on the Black Sea, Russian till then, by contract, decided to move ahead. After spending $5 billion or more on propaganda and organizing anti-Russian groups and parties, it re-animated its earlier “Orange Revolution.” Joining with openly pro-fascist groups—complete with swastikas, “Heil Hitler!” salutes, and all—it managed the ouster of the elected president, who had to flee to safety. In a famous decision, revealed in a hacked telephone call between the U.S. ambassador in Kiev and Victoria Nuland, Assistant Secretary of State, the American puppet Arseniy Yatsenyuk, referred to endearingly as “Yats” by Nuland, was installed by her as prime minister.
Leadership positions in Ukraine have changed several times since then, as the influence of varying oligarchs altered. Some things remained constant. Russian speakers were discriminated against and suppressed, resulting in the vote of a great majority in Crimea to become part of Russia once again—as they had been until 1954. Two Russian-speaking eastern provinces defied the anti-Russian pressures and broke away, with Moscow support. Armed Ukrainian militia units, some with openly pro-fascist symbols on their uniforms or skins, kept battering against them
Perhaps it was their strength which prevented the Kiev government from abiding by the peace agreements of Minsk, in which Paris, Berlin, Moscow, and Kiev had agreed on seeking solutions, with partial autonomy for the Russian-speaking provinces, or was it pressure from Washington and local oligarchs which moved the current president, Volodymyr Zelensky, at first seemingly in favor of negotiations, to back out?
Since that goal of world hegemony in many wealthy American brains, Republican and Democratic alike, was never abandoned, and only Russia and China stood in the way, Ukraine was clearly being built up as a counterforce against one such barrier, indeed as a ramp for further action. Which leads us to 2022.
Putin clearly disapproved of any ramps close to his borders. He hardly needed to leaf in the history books for the years 1812, or 1918-21, or 1941-45 to strengthen his resolve. With the increasing threat from an enlarged, aggressive NATO, he could not possibly ignore a Ukraine eagerly pushing to join up as soon as possible, after it had already joined in NATO wars in both Iraq and Afghanistan. All the offers Russia made to negotiate the issues—above all a bar to Ukraine officially joining NATO—were rejected in the West as “non-starters” and accompanied by further waves of recriminations and new sanctions.
Was this extreme hostility by media and politicians, with its implied threats (and its actual incidents, as in Syria), the reason for Putin’s decision to invade Ukraine? Despite TV hours and piles of paper and ink expounding about it, I see absolutely no basis for warnings that Putin has plans to “expand his empire.” I have not seen a single word threatening Finland, Poland, Romania, or the Baltic trio, which are often loudest in exhortations. And Germany? The idea of Russia attacking Germany is fully unthinkable—though not enough to hinder big armament expansion plans in Berlin.
In the past, Russia was systematically threatened and also attacked—and is surrounded by a world with over 750 American military bases, with an American military budget bigger than the next ten countries combined, and with four times as many NATO soldiers as Russians in uniform. Even when Russia deployed troops outside its borders, bitter as these occasions were, they were only in countries which were on its borders, and hence—if under unfriendly control—were viewed as potential threats as much as Russian or Chinese deployments in Mexico or Canada would be viewed in the U.S. Ukraine definitely borders Russia—its heartland. Militarily, the USSR and Russia were always basically on the defensive, not on an offensive track.
And yet its soldiers, tanks, and planes have invaded Ukraine, with results just as horrible for those affected, even if not on the same scale, as American attacks in the Philippines and Vietnam, Nicaragua, and Iraq—or in two of the worst crimes ever committed by humankind—at Hiroshima and Nagasaki. We cannot look into Putin’s mind, nor know of possible threats he seems to have considered immediate. We must strictly reject any nonsense disputing the will of most Ukrainians to remain independent and sovereign—though not to become part of a NATO-led threat.
Why this war now?……………….
The invasion, for whatever reason, has not only caused great misery in Ukraine, but also given an immense steroid push to the forces on the political right, the traditional Russia-haters, those thinking constantly of protecting and increasing their fortunes and those who want no peace, but only victory, any victory, over Russia. They want to demolish not only the reign of Putin but Russia in general as a barrier to capitalist expansion, to a hegemony ruled from Washington, Wall Street, and the Pentagon.
It is these people who are demanding no-fly zones. Some 27 former Pentagon and State Department officials and a former top NATO military commander joined Zelensky in calling for a no-fly zone, although they know full well what that means. As even Republican Sen. Marco Rubio of Florida said of the demand: “It means starting World War III.”
On the other hand, the march into Ukraine has caused saddening collateral damage, another likely season with the splintering and weakening of progressive forces who work for peace and whose growth is becoming almost desperately necessary in the face of a growing fascistic menace around the world………… https://portside.org/2022-03-12/criminal-war-ushers-worst-times-ukraine-russia-and-europe
Investors keen on renewable energy, while UK govt is trapping consumers into paying upfront for nuclear power plants to be built in a decade or more

Gordon Murray: LESLEY Riddoch’s article (The National, March 10)
is eminently sensible. The UK Government wants to build more large nuclear
plants such as Hinkley Point C. The problem for Boris is that investors are
not interested.
Centrica abandoned its plans to build new nuclear, Toshiba
exited the giant 3.3GW plant at Moorside, Cumbria and Hitachi scrapped the
£16 billion Wylfa plant on Anglesey. The current Hinkley development costs
are a whopping £23bn, almost double that projected in 2008 and set to rise
further.
The smart money is now with renewables where the returns are
higher, more immediate and less risky. Notwithstanding these setbacks, the
Conservative government, backed by Labour, is determined to plough on with
Sizewell C.
Their problem is who is going to fund it. The Government is not
keen to involve the Chinese who already get a return of 15% on their
investment at Hinckley Point C.
The Business Secretary Kwasi Kwarteng’s
answer is the Regulated Asset Base (RAB) funding model whereby consumers,
that’s us, will pay the construction costs by increasing energy bills. It
is a fanciful type of nuclear subsidy where consumers pay for and
underwrite the construction costs for 10 years before a single watt of
power has been generated.
You have not misread this! The Government is set
to increase our energy bills even further at a time when gas/energy prices
are soaring, pushing even more people into fuel poverty. Perhaps their
spirits will be raised when they learn that RAB, according to Kwarteng,
will give private investors greater certainty through a lower and more
reliable rate of return.
An added bonus is that bill payers can expect
their bills to rise even further when the project is completed since we can
expect the energy strike price for nuclear to be twice that of renewable
– the cheapest form of electricity generation that is now subsidy
free-where consumers only start paying once they start to generate.
TheSmall Modular Reactor programme promises lower energy production costs but
there is no hard evidence to support this claim. What we will get for
certain is large numbers of these power plants spread all over the country
that will raise safety concerns over proliferation of nuclear materials and
terrorist attacks.
The National 12th March 2022
Markets are in denial about nuclear risk
Markets are in denial about nuclear risk, The Jordan Times, Mar 13,2022 – NEW YORK — Financial markets do not seem to be pricing in the full risks of Russia’s invasion of Ukraine. The absence of any meaningful negative response in equity, corporate debt and sovereign debt markets in Europe, the United States, Canada and Japan would barely make sense even if there was no chance of the situation escalating into an open conflict between NATO and Russia. But that is not the only real risk; so, too, is the threat of the conflict going nuclear……….
Global asset markets have not even priced in this least-bad scenario. But if the Russia-Ukraine war escalated to become a Russia-NATO war, there would be a serious risk of nuclear conflict. One sure way to achieve such an escalation would be for NATO to establish a no-fly zone over Ukraine, as the Ukrainian government has urged.
While NATO and Western governments have imposed economic and financial sanctions on Russia and furnished Ukraine with anti-tank weapons, drones, portable surface-to-air missiles and ammunition, these forms of support do not amount to an act of war. Enforcing a no-fly zone, however, would mean shooting down Russian targets. Were NATO to take this step, a wider war would become inevitable.
So far, NATO has forthrightly rejected calls for a no-fly zone. It has also shown restraint in response to Putin’s nuclear saber-rattling. On February 27, 2022, Putin put Russia’s nuclear forces on high alert in response to Western sanctions and what he referred to as “aggressive statements” from NATO powers.
On the same day, Belarus abandoned its non-nuclear status — thereby permitting Russia’s nuclear weapons on its territory. This escalation came on the heels of Russia’s extensive strategic nuclear exercises on February 19, and Putin’s televised speech announcing the invasion on February 24, when he emphasised that Russia is still one of the world’s most powerful nuclear-weapons states…………..
Today, there is scant evidence that markets have even noticed the rising risk of a nuclear conflict. Denial is the name of the game.
Willem H. Buiter is an adjunct professor of international and public affairs at Columbia University. 2022. www.project-syndicate.org http://www.jordantimes.com/opinion/willem-h-buiter/markets-are-denial-about-nuclear-risk
Ukraine war fills Pentagon’s, NATO allies’ war chests
“Over multiple administrations, Democrat and Republican, we have tried to minimize friction with Putin and with Russia, in the hopes that it wouldn’t exacerbate a problem….And I feel like that era is over,” said Slotkin, a former Pentagon official. “I think it’s a sea change for how both the Defense Department and the State Department should think about our presence in Europe.”

[N]ow there is a unique moment of bipartisanship that will allow the Pentagon to request and receive just about anything it wants, Rep. Elissa Slotkin, D-Mich., said last week during a House Armed Services Committee hearing. Congress is poised to approve $14 billion for Ukraine aid this week, including nearly $5 billion for additional troops in Europe and replenishing U.S. weapons already sent to Ukraine. The House passed the package Wednesday and the Senate is expected to vote on the bill by Friday.
“Over multiple administrations, Democrat and Republican, we have tried to minimize friction with Putin and with Russia, in the hopes that it wouldn’t exacerbate a problem….And I feel like that era is over,” said Slotkin, a former Pentagon official. “I think it’s a sea change for how both the Defense Department and the State Department should think about our presence in Europe.”
Ukraine war fills Pentagon’s, NATO allies’ war chests https://wordpress.com/read/feeds/113283937/posts/3880404511, Rick Rozoff, Anti-bellum
Stars and Stripes, March 10, 2022,
Congressional support for larger defense budget grows amid Ukraine invasion The changing security landscape in Eastern Europe will “no doubt” increase next year’s defense budget, Rep. Adam Smith, D-Wash., chairman of the House Armed Services Committee, said at an event last week. Other Capitol Hill lawmakers say they are also prepared to funnel more money to the Pentagon as the U.S. rethinks its national security and defense posture.
“President [Joe] Biden needs to put a serious budget proposal forward to confront the real threats we face,” Sen. Kevin Cramer, R-N.D., said in a statement. “Russia is just one reason why defense spending needs to be higher. China and other nations are watching the seriousness and resolve of freedom-loving nations.”
Russia’s unprovoked attack on Ukraine has prompted other NATO countries to pledge additional funding for their armed services.
In a reversal of decades of post-Cold War policy, Germany’s Chancellor Olaf Scholz said last month that his country would embark on a $110 billion rearming program. Poland announced last week that it will raise its spending on defense from 2% to 3% of the country’s gross domestic product. Leaders of France, Italy, Latvia and Romania have all vowed in recent days to boost their commitment to defense.
U.S. lawmakers authorized nearly $778 billion for defense spending for the 2022 fiscal year – $25 billion more than requested by the White House. The Biden administration has yet to submit its budget request for fiscal year 2023, which starts Oct. 1, but Smith said last week that the eventual spending plan will be “the most impactful and important budget that we’ve seen in the 25 years I’ve been in Congress.”
Sen. Jim Inhofe of Oklahoma, the top Republican on the Senate Armed Services Committee, said he wants to see defense expenditures grow by at least 3% to 5%, adjusted for inflation….
[N]ow there is a unique moment of bipartisanship that will allow the Pentagon to request and receive just about anything it wants, Rep. Elissa Slotkin, D-Mich., said last week during a House Armed Services Committee hearing. Congress is poised to approve $14 billion for Ukraine aid this week, including nearly $5 billion for additional troops in Europe and replenishing U.S. weapons already sent to Ukraine. The House passed the package Wednesday and the Senate is expected to vote on the bill by Friday.
“Over multiple administrations, Democrat and Republican, we have tried to minimize friction with Putin and with Russia, in the hopes that it wouldn’t exacerbate a problem….And I feel like that era is over,” said Slotkin, a former Pentagon official. “I think it’s a sea change for how both the Defense Department and the State Department should think about our presence in Europe.”
European Bank for Reconstruction and Development (EBRD) very anxious about Chernobyl nuclear situation
| The European Bank for Reconstruction and Development (EBRD) is extremely concerned by recent developments at the Chernobyl Nuclear Power Plant (ChNPP) in Ukraine. The EBRD, which has been managing over €2.5 billion in international funds to transform Chernobyl since 1995, believes that recent events are putting in jeopardy the achievements of decades of successful international collaboration to secure the site. The Bank’s position on ChNPP is fully aligned with the International Atomic Energy Agency (IAEA) and is based on the following safety and security considerations: Uninterrupted power supply must be maintained for the Chernobyl facilities. Any loss of power is potentially a serious threat to their nuclear safety. Since monitoring and control systems on site do not work, operators will not be aware of possible risks. They must stay in operation. The Chernobyl facilities have been operated by the same depleted shift of employees for more than two weeks. Normal shift rotation as well as supplies to operating staff must be ensured. Any military action on site is extremely dangerous for the old spent fuel storage facility housing around 20000 RBMK fuel assemblies. Inspections by the Ukrainian regulator and the IAEA must be allowed. Beyond Chernobyl, there are 15 VVER-type units across Ukraine. They have a relatively weak containment and will not withstand a direct hit, which may result in irreversible consequences. EBRD 11th March 2022https://www.ebrd.com/news/2022/ebrd-very-concerned-by-situation-at-chernobyl-nuclear-power-plant-.html |
Chernobyl nuclear workers ”exhausted and desperate”
Chernobyl workers are reportedly “exhausted and desperate” and surviving
on one meal of bread and porridge a day, sparking fears over their ability
to look after the nuclear plant safely.
The plant, where the world’s worst nuclear disaster happened in 1986, was taken by Russian forces at the start of the invasion of Ukraine. Hundreds of workers and guards have been
trapped for nearly two weeks, having not been able to leave since Feb 23.
The plant is not configured for workers living there, and they are sleeping
on floors, tables and camp beds. Communication with the Chernobyl workers
is currently limited to emails. Rafael Grossi, director general of the
International Atomic Energy Agency (IAEA), called on Russia to allow
Chernobyl staff to be relieved by colleagues. Mr Grossi has offered to
travel to the Chernobyl plant where 200-plus staff have been on-site for 12
days straight.
Telegraph 8th March 2022
Chernobyl workers still stranded at the power station
More than 210 workers remain trapped at the Chernobyl nuclear power plant
as all its facilities continue to be controlled by the Russian military
troops. The International Atomic Energy Agency (IAEA) said that it has been
informed by Ukraine’s nuclear regulator that the shift of around 210
technical staff and guards has still not been able to rotate as of Monday
7th February. That means that the same staff have been on the site for 12
days.
Energy Live News 8th March 2022
How the Narcotic of Defense Spending Undermines a Sensible Grand Strategy,

MARCH 2, 2022, How the Narcotic of Defense Spending Undermines a Sensible Grand Strategy, CounterPunch, BY FRANKLIN SPINNEY The Military-Industrial-Congressional-Complex’s (MICC) grand-strategic chickens are coming home to roost big time. While war is bad, the Russo-Ukrainian War has the champagne corks quietly popping in the Pentagon, on K Street, in the defense industry, and throughout the halls of Congress. Taxpayers are going to be paying for their party for a long time.
It is no accident that the United States is on the cusp of the Second Cold War.
Future historians may well view the last 30 years as a case study in the institutional survival of the American Military – Industrial – Congressional Complex (MICC), together with its supporting blob now saturating the media, think tanks, academia, and the intelligence community. Perhaps, these future historians will come also to view the Global War on Terror (GWOT) as the bridging operation that greased the transition to Cold War II by keeping defense budgets at Cold War levels after Cold War I ended. Also, 9-11 may have re-acclimated the American people to the climate of fear now needed to sustain Cold War II for the remainder of the 21st Century.
The First Cold War’s 40-year climate of fear was something Mikhail Gorbachev tried to end. But Presidents Clinton and Bush (the 2nd) were busy planting the seed money for a new generation of cold-war inspired weapons. These weapons required massive future defense budgets that would require a climate of fear to sustain (especially for the across-the-board nuclear modernization program). President Obama then locked in these programs, and won a Nobel Peace Prize to boot. President Trump and the Dems in Congress worked overtime to ice the Pentagon’s budget cake by incestuously amplifying the growing Russophobia
No one wants war, but rising tension and the politics of fear … and their bedfellow: demonization … had to be magnified to justify the huge bow wave of defense spending looming in the budgetary offing, particularly the trillion+ dollars to pay for the nuclear modernization program. This “chicken” takes us back to the “egg” laid in the 1990s.
As it gradually sank in that the First Cold War had indeed ended when the Soviet threat evaporated in 1991, the titans in the defense industry understood their comfortable market for new hi-tech, high-cost weapons could dry up.
At the same time, the defense industrialists recognized that market diversification was necessary. So, it was no accident that a lobbying operation named the Committee to Expand NATO emerged in the early 1990s and was headed by a vice president of Lockheed Martin — see also Why is US Foreign Policy a Shambles?. At the very least, in the mid-1990s, it seemed that expanding NATO implied dramatically increased requirements for what is known in NATO jargon as weapons interoperability……………..
the Pentagon’s strategy of maximizing its budget has created a growing dependency on defense spending in the American political economy. This grotesque distortion was first recognized by President Eisenhower in 1961. In 1987, George Kennan, forty years after he fathered the dominant US policy of “Containment” for the entire First Cold War, summed up the narcotic of defense spending, saying prophetically:
“Were the Soviet Union to sink tomorrow under the waters of the ocean, the American military-industrial complex would have to remain, substantially unchanged, until some other adversary could be invented. Anything else would be an unacceptable shock to the American economy,” …………..
Understanding the internal political-economic causes of the American addiction to the narcotic of defense spending is at the heart of the problem. This understanding is essential to reforming the foreign policy mess exacerbated by NATO expansion. …….
Franklin “Chuck” Spinney is a former military analyst for the Pentagon and a contributor to Hopeless: Barack Obama and the Politics of Illusion, published by AK Press. He be reached at chuck_spinney@mac.com https://www.counterpunch.org/2022/03/02/how-the-narcotic-of-defense-spending-undermines-a-sensible-grand-strategy/
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