From the inbox, something Premier Brad Wall might want to think about as he and his minions consider Saskatchewan’s nuclear future. The only way the nuke industry makes money is through government subsidies, i.e. taxpayers’ money. Is this where we want our taxes spent, on an industry that is not economically sustainable?
FOR IMMEDIATE RELEASE Contact: Michael Mariotte
January 28, 2008
NIRS STATEMENT ON CANCELLATION OF IDAHO NUCLEAR REACTOR
Today, MidAmerican Nuclear Energy Company announced that it is cancelling
its plans to build a new nuclear reactor in Payette County, Idaho.
The company cited the poor economics of nuclear power for its decision,
saying that its “due diligence process has led to the conclusion that it
does not make economic sense to pursue the project at this time.”
MidAmerican was planning on Warren Buffett’s Berkshire/Hathaway company to
provide major financing for the project. Buffett is a major owner of
Which leads NIRS to the obvious conclusion: if Warren Buffett cannot figure
out how to make money from a new nuclear reactor, who can?
“This cancellation is the first of the new nuclear era,” said Michael
Mariotte, executive director of Nuclear Information and Resource Service,
“but it won’t be the last. Even before any new nuclear construction has
begun in the U.S., cost estimates have skyrocketed and are now 300-400%
higher than the industry was saying just two or three years ago.”
“The extraordinary costs of nuclear power, coupled with its irresolvable
safety and radioactive waste problems, killed the first generation of
reactors, and are going to end this second generation as well. But it would
be tragedy if the U.S. wasted any money on new reactors, when resources are
so desperately needed to implement the safer, cheaper, faster, and
sustainable energy sources needed to address the climate crisis,” Mariotte