Ralph Nader: Nuclear power is uneconomical, uninsurable, unsafe, unnecessary and unevacuable

Consumer Advocate Ralph Nader published a great summary piece on nuclear power in the Ecologist last Friday:

…nuclear power is a government / taxpayer-guaranteed boondoggle whose staggering costs, incurred and deferred, are absorbed by American taxpayers via a supine government regulatory and subsidy apparatus.

Nader cites a number of categories where the nuclear industry is insulated from the kinds of market forces that most industries face, starting with waste disposal:

So if … you read about the absence of any permanent radioactive waste storage site, no problem, the government / taxpayers are responsible for transporting and safeguarding that lethal garbage for centuries.

And cost overruns:

If your reactors experience ever larger cost over-runs and delays, as is now happening with two new reactors in South Carolina, no problem, the supine state regulatory commissions will just pass the bill on to consumers, despite the fact that consumers receive no electricity from these unfinished plants.

And financing:

If these plants, and two others in Georgia under construction, experience financial squeezes from Wall Street, no problem, a supine Congress has already passed ample taxpayer loan guarantees that make Uncle Sam (you the taxpayer) bear the cost of the risk.

Plants so dangerous that they couldn’t get insurance in an open market? Also not a problem:

If there were to be an accident such as the one that happened in Fukushima, Japan, no problem, under the Price-Anderson Act, the government / taxpayers bear the cost of the vast amount of damage from any nuclear power plant meltdown.

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About Robert Singleton

By day, I work for a call center. In my spare time, I try to save my hometown (and planet) from a nearly constant onslaught of greedheads, lunatics and land developers. I live in a fictional town called Austin, Texas, where I go to way too many meetings.
This entry was posted in Finance, Nuclear power, Nuclear Regulatory Commission, Nuclear Renaissance, Radioactive waste and tagged , , , . Bookmark the permalink.

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