Reactor Reax Top Stories - Warren Buffett Wants a Subsidy From You

The latest stories from the world of nuclear energy.

Courtesy: newint.org

(WASHINGTON DC) - In this week's Reactor Reax, Motley Foolthe reveals that 'Wizard of Ohama', Warren Buffett, wants the American taxpayer to pony up for dangerous nuclear power. It's quite a risk and a lot to ask of a citizenry but then he is widely regarded as one of the most successful investors in the world, which is sort of laughable as the U.S. economy settles lower and lower into the ground.

CNN explores lingering concerns centering around nuclear reactors, as the United States prepares to build its first new nuclear power reactors in three decades.

An article by The Energy Collective, Rethinking the Nuclear Energy Renaissance, we learn that Georgia reactors were to be the leading edge of a renaissance in the nuclear power industry. However, lasts year's Fukushima Daiichi incident in Japan was a sharp reminder of the dangers of nuclear power.

Warren Buffett Wants a Subsidy From You, Motley Fool, February 24, 2012. "On the surface, the financing isn't a terrible idea. Instead of financing a plant itself, the utility charges customers over a longer period of time, and instead of a jump in utility bills when the plant is complete, customers see a slow rise in rates. The original CWIP plan in 2009 for Southern Company's Vogtle expansion said it would save $1.5 billion. The reality is, the risk of nuclear projects is transferred to rate payers in this scenario, including the risk of increased costs. And costs have more than quadrupled for recent plants between the planning phase and actual construction."

Concerns Linger Over Nuclear Reactors, CNN, February 19, 2012. "As the United States prepares to build its first new nuclear power reactors in three decades, concerns about an early generation of plants have resurfaced since last year's disaster in Japan. The Vermont Yankee nuclear power plant -- the subject of a battle between state authorities and the Nuclear Regulatory Commission over its continued operation -- uses one of 23 U.S. reactors built with a General Electric-designed containment housing known as the Mark I."

Rethinking the Nuclear Energy Renaissance, The Energy Collective, February 21, 2012. "The Georgia reactors were to be the leading edge of a renaissance in the nuclear power industry. However, lasts year's Fukushima Daiichi incident in Japan was a sharp reminder of the dangers of nuclear power. Despite the approval of the new project the nuclear giant in the U.S. is more likely to go back to sleep than reawakened. Nuclear power was on the verge of making a strong comeback with many projects winding their way through the bureaucratic gauntlet of analysis, regulatory approval, and financing. However, most of the other potential projects have fallen out of the pipeline leaving only 5 reactors including the two in Georgia that are likely to be completed in the next decade."

The Unclear Nuclear Revival, (op-ed), Huffington Post, February 17, 2012. Elliott Negin: "The U.S. nuclear industry has spent hundreds of millions over the last decade to promote its revival, and only a few years ago some proponents were calling for as many as 100 new reactors. Now the industry will be lucky if it can get four or five built in the next 10 years. Standard and Poor's credit rating agency said on Wednesday that the likelihood of a nuclear power "rebirth is faint at this time" due to a sluggish economy, depressed electricity demand, and low natural gas prices." Elliott Negin is the director of news and commentary for the Union of Concerned Scientists.

Nuclear reactor lessons learned?, (editorial), Orange County (CA) Register, February 21, 2012. "California has a ban on new nuclear construction until the federal government figures out what to do with the highly radioactive nuclear waste. And a proposed ballot initiative – which must collect a half-million signatures by mid-April to make the November ballot – would effectively shut down the San Onofre and Diablo Canyon plants by forbidding the generation of nuclear power until the feds can permanently dispose of high-level nuclear waste. Nuclear renaissance? We'll see."

Westinghouse Nuclear-Fuel Error Spurs U.S. Inquiry at 11 Plants, Bloomberg, February 17, 2012. "The U.S. Nuclear Regulatory Commission said it's concerned that 11 reactors could become too hot in accident situations because some older nuclear fuel from Westinghouse Electric Co. may not adequately conduct heat."

"Reactor Reax" is featured on www.NuclearBailout.org, a Web site maintained by Physicians for Social Responsibility. For more information, contact reactorreax@nuclearbailout.org