Obama’s Nuclear Option by Amy Goodman

[Better Believe It]

Obama’s Nuclear Option
by Amy Goodman
February 18,2010

President Barack Obama is going nuclear. He announced the initial $8 billion in loan guarantees for construction of the first new nuclear power plants in the United States in close to three decades. Obama is making good on a campaign pledge, like his promises to escalate the war in Afghanistan and to unilaterally attack in Pakistan. And like his “Af-Pak” war strategy, Obama’s publicly financed resuscitation of the nuclear power industry in the U.S. is bound to fail, another taxpayer bailout waiting to happen.

Opponents of the plan, which includes a tripling of existing nuclear plant construction-loan guarantees to $54.5 billion, span the ideological spectrum. On its most basic level, the economics of nuclear power generation simply doesn’t make sense. The cost to construct these behemoths is so huge, and the risks are so great, that no sensible investor, no banks, no hedge funds will invest in their construction.

No one will loan a power company the money to build a power plant, and the power companies refuse to spend their own money. Obama himself professes a passion for the free market, telling Bloomberg BusinessWeek, “We are fierce advocates for a thriving, dynamic free market.” Well, the free market long ago abandoned nuclear power. The right-wing think tank Heritage Foundation remarked, “Expansive loan guarantee programs ... are wrought with problems. At a minimum, they create taxpayer liabilities, give recipients preferential treatment, and distort capital markets.”

Amory Lovins of the Rocky Mountain Institute, a longtime critic of the nuclear power industry, told me, “If you buy more nuclear plants, you’re going to get about two to 10 times less climate solution per dollar, and you’ll get it about 20 to 40 times slower, than if you buy instead the cheaper, faster stuff that is walloping nuclear and coal and gas.”

Read the full article at:

http://www.commondreams.org/view/2010/02/18

[Karmadillo]

1. Obama: “We are fierce advocates for a thriving, dynamic free market.” LOL

nt

[G_j]

2. No Nukes

http://www.commondreams.org/view/2010/02/13
Published on Saturday, February 13, 2010 by CommonDreams.org

No Nukes
by Ralph Nader

A generation of Americans has grown up without a single nuclear power plant being brought on line since before the near meltdown of the Three Mile Island structure in 1979. They have not been exposed to the enormous costs, risks and national security dangers associated with their operations and the large amount of radioactive wastes still without a safe, permanent storage place for tens of thousands of years.

All Americans better get informed soon, for a resurgent atomic power lobby wants the taxpayers to pick up the tab for relaunching this industry. Unless you get Congress to stop this insanely dirty and complex way to boil water to generate steam for electricity, you'll be paying for the industry's research, the industry's loan guarantees and the estimated trillion dollars (inflation-adjusted) cost of just one meltdown, according to the Nuclear Regulatory Commission, plus vast immediate and long-range casualties.

The Russian roulette-playing nuclear industry claims a class nine meltdown will never happen. That none of the thousands of rail cars, trucks and barges with radioactive wastes will ever have a catastrophic accident. That terrorists will forgo striking a nuclear plant or hijacking deadly materials, and go for far less consequential disasters.

The worst nuclear reactor accident occurred in 1986 at Chernobyl in what is now Ukraine. Although of a different design than most U.S. reactors, the resultant breach of containment released a radioactive cloud that spread around the globe but concentrated most intensively in Belarus, Ukraine and European Russia and secondarily over 40% of Europe.

For different reasons, both governmental and commercial interests were intent on downplaying both the immediate radioactively-caused deaths and diseases and the longer term devastations from this silent, invisible form of violence. They also were not eager to fund follow up monitoring and research.

..more..

[G_j]

3. kick