Nuclear power: Just another rent-seeking scam
[H]ere is Arjun Makhijani of the Institute for Energy and Environmental Research (IEER). Makhijani explains how Obama has abandoned campaign rhetoric about reducing nuclear power use over time, and how he failed to explain how nuclear power is an economic loser:Further, while expressing concerns about deficits, the Obama administration is opening the spigot for more loan guarantees for new nuclear power plants because Wall Street won’t finance them. They are just too risky. A single project is often more costly than the entire net worth of many electricity generating companies. They don’t want to bet their companies on nuclear. But they are OK with betting taxpayer dollars. Given that the underlying relationship between energy demand and economic growth is changing (quite apart from the recession), many nuclear projects are likely to be abandoned. Some already have been. This would be "déja vu all over again." Every nuclear power plant ordered after the first energy crisis in 1973 was abandoned, leaving ratepayers and bondholders on the hook. This time it will be the taxpayers.
Nuclear power is a long-term disaster for the environment and it never will build out enough to be our energy savior. It makes no economic sense as it requires boatloads of taxpayer money and crazy levels of protective public policy for the nuclear industry even to exist.