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Sep-23-2011 14:16printcomments

Reactor Reax Top Stories - US Insurance Fund Can't Cover Major Nuclear Disaster

Confronting the reality of our nuclear world.

Nuclear danger

(WASHINGTON D.C.) - With so many things taking place in the world; a UN vote for Palestinian statehood, the execution of a man in Georgia with a questionable conviction, a loose NASA satellite streaking dangerously toward earth... we tend to forget other very serious problems, like the fallout from the Fukushima nuclear disaster.

Unpaid bills, insurance companies that can't cover costs... it is all a result of capitalism-gone-wild; corners cut during the construction of nuclear facilities, (Leaving a reduced level of safety but saving contractors a few bucks) In a word, the world is now extremely unsafe due to nuclear practices that mostly originate in the U.S.

Solar flap misses point on energy subsidies, (op-ed), The Hill, September 21, 2011. "If energy subsidies that pervert market forces are really going to get the boot, then nuclear power should be the first industry required to pay its own way and compete head-to-head in a truly competitive marketplace. On the other hand, if policymakers wish to ignore the economic fundamentals of electricity markets and treat loan guarantees as an effort to point energy policy in a new direction, solar is a much better candidate for 'infant industry' support than nuclear reactor construction, which already has half a century of subsidies under its belt." Mark Cooper is a senior research fellow at the Institute for Energy and the Environment.

US Insurance Fund Can't Cover Major Nuclear Disaster, News Max, September 21, 2011. "... there is apparently little disagreement over massive costs that would be involved in a cleanup along the lines of the ongoing one in Japan. 'If you have an accident or something like Fukushima, then Price-Anderson can't handle those kinds of losses,' Wharton School public policy professor Howard Kunreuther told the newspaper. 'The Japan power plant failure is far worse than almost anything we've ever had. Maybe Chernobyl, from the point of view of people affected, but certainly not in the case of economic damage," added Kunreuther, who co-wrote a paper several years ago on the potential costs to the U.S. government of catastrophic nuclear disaster."

Siemens exits nuclear energy arenas chief executive says 'chapter closed', Irish Times, September 19, 2011. "The Siemens chief executive said his company aimed to be at the forefront of Germany's ambitious goal to generate 35 per cent of its energy from renewable sources by 2020. 'The energy shift is the project of the century for Germans,' he said. 'With 20 per cent renewable energy already, the country is on the right path'."

Surviving the one-two nuclear punch: Assessing risk and policy in a post-Fukushima world, (op-ed), Bulletin of Atomic Scientists, September 1, 2011. "Four nuclear reactors have experienced accidents far more serious than those at Three Mile Island. The world's response to that accident was clearly inadequate to fulfill the Kemeny Commission's mandate. If history repeats itself and regulators now take steps that are too timid to address the root causes of the Fukushima accident, they must bear full responsibility when the next nuclear disaster occurs. And the NRC should keep this in mind as it considers its next steps in response to Fukushima." Edwin S. Lyman is a senior staff scientist in the Global Security Program at the Union of Concerned Scientists in Washington, DC.

Fukushima's neighbors lobby in U.S. against nuclear energy, CNN, September 20, 2011. "Using firsthand accounts of coping with the threat of radioactive contamination, several Japanese citizens who lived near the Fukushima Daiichi nuclear power plant hope to convince U.S. officials that nuclear energy poses an unacceptable risk."

"Reactor Reax" is featured on, a Web site maintained by Physicians for Social Responsibility.

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