nuclear energy

Nuclear Energy and the ‘Mother of all Subsidies’

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[The two year anniversary of the Fukushima nuclear disaster  is March 11. Little has changed from this 2011 article (except cleanup costs may be higher at $250 billion). Generations of Japanese taxpayers will have to cover those costs. Other countries also have liability caps which means the public provides ‘free insurance’ to the industry. As this article shows it’d be cheaper to give interest-free loans to solar or wind industry. — Stephen.]

“…it is basically insanity to shoulder the public with risk to get relatively small amount of electricity…”

By Stephen Leahy

UXBRIDGE, Canada, May 6, 2011 (IPS)

The nuclear energy industry only exists thanks to what insurance experts call the “mother of all subsidies”, and the public is largely unaware that every nuclear power plant in the world has a strict cap on how much the industry might have to pay out in case of an accident.

In Canada, this liability cap is an astonishingly low 75 million dollars. In India, it is 110 million dollars and in Britain 220 million dollars. If there is an accident, governments – i.e. the public – are on the hook for all costs exceeding those caps.

Japan has a higher liability cap of 1.2 billion dollars, but that is not nearly enough for the estimated 25 to 150 billion dollars in decommissioning and liability costs for what is still an ongoing disaster at its Fukushima Daiichi nuclear plant. Seven weeks after the tsunami caused the disaster, radiation levels continued to spike higher.

No one knows when the reactors will finally be in cold shutdown, or when the costs of the Fukushima disaster will stop piling up. One report suggests decommissioning will take 30 years.

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Japan’s credit rating was downgraded because of the accident, noted Mycle Schneider, a Paris-based energy and nuclear policy analyst who has worked in Japan. “The Japanese know it’s just a matter of time before another large earthquake occurs,” Schneider told IPS.

“Japan will never build another nuclear plant.”
Continue reading →

Nuclear Energy Steals Billions from Other Technologies

Stephen CLIMATE CHANGE/GLOBAL WARMING, economics, Energy, global warming, News, Science/Tech, sustainability , , , ,

By Stephen Leahy*

Costs of nuclear skyrocket while costs of renewables falling quickly say energy experts

BERLIN, Jul 31, 2009 (IPS)

Why is nuclear energy back on the table?

One reason is a powerful U.S. lobby where 14 energy companies spent 48 million dollars in 2007 alone to convince American politicians to give the industry huge loan guarantees because they cannot get financing anywhere else, says Ellen Vancko, a nuclear energy analyst at the Union of Concerned Scientists, a U.S.-based non governmental organisation (NGO).

This lavish lobbying effort by the energy and nuclear power sector has been ongoing since the mid-1990s, according to the Center for Responsive Politics, a U.S. NGO and now totals at least 953 million dollars.

Even more has been spent to convince the public that nuclear is one of the keys to energy security so that there is significant public support for new reactors, a Gallup Environment Poll reported this year.

“There are lots of senators and members of congress talking about nuclear as a clean, renewable energy resource,” Vancko says.

The other reason is the French. Continue reading →

Lavish US Lobbying Pushes Nuclear Energy — Taxpayers on the hook for 360 billion to 1.6 trillion dollars (again)

Stephen CLIMATE CHANGE/GLOBAL WARMING, economics, Energy, global warming, News ,

windmill winter poniesBy Stephen Leahy*

BERLIN, Jul 31 (IPS)

Climate change and the resulting need for low-carbon energy sources is driving the current interest in nuclear energy despite the industry’s near universal legacy of staggering cost-overruns, technical difficulties and dependence on enormous government subsidies.

Government interest in new nuclear energy plants seems far more political than practical or economic in light of the fact that Europe’s latest nuclear plant under construction in Finland is four years behind schedule and 50 to 70 percent over budget.

Any claims that nuclear is a viable low-carbon or clean energy source are negated by its extraordinary costs that have increased at least five-fold in the past decade.

“Nuclear energy has always been heavily subsidised by governments around the world,” Ellen Vancko, a nuclear energy analyst at the Union of Concerned Scientists, a U.S.-based non governmental organisation.

Under proposed U.S. legislation to reduce greenhouse gas emissions (Waxman-Markey Energy Bill), billions more dollars are headed the nuclear industry’s way in the form of research and development funding, production tax credits, and 20 billion dollars in loan guarantees.

Added to that a major push by some politicians in the U.S. Senate to dramatically expand government-backed loan guarantees to subsidise the construction of 100 new nuclear plants in the U.S. over the next 20 years, Vancko told IPS.

“The U.S. taxpayer could be on the hook for 360 billion to 1.6 trillion dollars. This potentially is as large or larger than the U.S. financial crisis,” she says. Continue reading →

James Lovelock: “there will be a sudden shift to a new global climate … 5 or 6C warmer”

Stephen 1 Must Read, Agriculture/Food, CLIMATE CHANGE/GLOBAL WARMING, ENVIRONMENT, Global Issues and Perspectives, global warming, News, OCEAN, Science , , , , , , ,

Lovelock_James credit Sandy Lovelock

Stephen Leahy interviews JAMES LOVELOCK the scientist who first proposed the Gaia Hypothesis

TORONTO, June 5 2009 (Tierramérica)

“When the first great climate disaster strikes, I hope we will all pull together just as if our nation were being invaded,” says British scientist James Lovelock in this exclusive Tierramérica interview.

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As the world marksInternational Environment Day Friday, Lovelock argues that as the climate warms and the carbon content of the atmosphere soars, humanity is facing a far grimmer future that will be upon us sooner than any of the projections made by the Intergovernmental Panel Climate Change (IPCC).

A chemist, physician and biophysicist, Lovelock is one of the world’s foremost environmental scientists and founder of the Gaia Hypothesis, which describes the planet as a living organism, a complex system in which the components of the biosphere and atmosphere interact to regulate and sustain life.

Although his ideas often feed controversy, Lovelock has wide-ranging scientific credentials. As an inventor, he holds more than 50 patents, including the first devices for detecting the presence of ozone-depleting CFCs (chlorofluorocarbons) and pesticide residues in the environment.

He is also the author of many books. The most recent, “The Vanishing Face of Gaia: A Final Warning”, was published in April. Lovelock spoke with Tierramérica’s Stephen Leahy in Toronto.

TIERRAMÉRICA: Why are you critical of the IPCC? Continue reading →