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Blog item: Nuke power liabilities dwarf Bush's bailout

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2 comments, last: Sep-27-2008   Add a comment   Author:  NoNukes (Sep-27-2008)    Play a Video
Categories: Economic/Financial, Philosophical & Quality of Life, Political, Pollution

Chenobyl reactor after the disastrous meltdownSeptember 23, 2008

As you read this, nuclear power liabilities embraced by the federal government could be making small radioactive potatoes of the mere hundreds of billions George W. Bush wants to hand the pirates of Wall Street. 

In fact, they could make all the money spent in Iraq, on the defense budget, on social security and on this bailout seem like nickels and dimes. 

Why? Because as of this moment the taxpayers of the United States are on the hook for potential catastrophic melt-downs at 104 licensed atomic reactors. Every one of them can kill hundreds of thousands of American citizens. Every one of them can inflict more financial damage than can be reasonably calculated. 

On September 11, 2001, we missed by just one minute learning what costs such a catastrophe can really incur. 

And what's truly astonishing is that the reactor industry wants to build even more of these radioactive machines of mass self-destruction. 

So while the national mind is focused on the gargantuan cost of what the Bush Republicans have done to the American economy, let's note what could be happening right now. 

In the 1950s a study by the Sandia Laboratory warned that a reactor disaster could permanently [on a human time scale - ed.] irradiate a land mass the size of Pennsylvania. Based on reactors much smaller than today's, in a state with far fewer people, Sandia warned the death toll would be in the thousands. 

In 1966, a melt-down at Fermi I in Monroe, Michigan, destroyed a $100 million reactor and threatened to force the evacuation of all southeastern Michigan, including Detroit. The Great Lakes would have been permanently irradiated. 

In 1979 the melt-down at Three Mile Island turned a $900 million asset into a $2 billion liability. It's still unknown how much radiation escaped and how many people were harmed by it. 

The explosion at Chernobyl Unit 4 on April 26, 1986, has thus far inflicted about a half-trillion dollars in damage. The death toll is bitterly disputed. Cancer and birth defects still proliferate throughout the poisoned, impoverished region. 

On September 11, 2001, the first jet that hit the World Trade Center flew directly over the two active and one retired reactors---plus their spent fuel pools---at Indian Point, 45 miles north. A melt-down at any or all of these facilities could have caused hundreds of thousands of deaths---or more---and irradiated all of southern New York, Long Island, the Cape and Islands, much of New Jersey and Massachusetts, and much more. 

The financial cost of such a catastrophe is beyond calculation. 

But YOU would pay for it. Why? 

Because in 1957 the utility industry told the government it would not build atomic reactors without liability insurance. No private companies stepped forward. So Congress passed the Price-Anderson Act, forcing taxpayers to assume virtually all the risk for a major melt-down. 

Reactor pushers promised the public that private insurers would soon step forward. But 51 years later, none have. Beyond a token pool, every cent of a disaster at a privately-owned atomic reactor would be assumed by the taxpayers. Those who lose their health and homes would be forced to beg for compensation. 

The industry now touts an "inherently safe" new generation of reactors. But it still demands not only that taxpayers fund their construction---but also that they assume liability for melt-downs. 

Those who doubt such a thing could happen need only look at the "sound fundamentals" on Wall Street. All atomic reactors are fatally vulnerable to both terror and error. And a catastrophe at any one of them could be happening as you read this. 

If you doubt the financial cost, just add a few sets of zeroes to the numbers being used to bail out Wall Street. Throw in more deaths than you can imagine. 

Then you'll have all the reasons you need to demand that no more of these monsters be built. And that the ones that still operate be shut down as fast as possible.

Related PlanetThoughts.org reading:
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  Is Fukushima Now Ten Chernobyls Into The Sea? (May-26-2011)
  Could A Solar Green White House Finally Face The... (Oct-15-2010)
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Comment by:  PT (David Alexander) (Sep-27-2008)   Web site
The power industries that require central, corporate ownership are fossil fuel power and nuclear power. The primary renewable energies (wind and solar) can be harnessed by individuals, communities, and/or large corporations. Any large company would be nervous about that potential loss of control. Some would even lie, cheat, and steal to protect their position of control.
  
Comment by: Going Green (Sep-27-2008)   Web site

It does seem like with the amount of different and greener technologies available to the energy companies, that the one's pushing nuclear power aren't really doing it for the benefit of the people.

So it is just another slap in the face, that they expect us to burden the insurance costs!

Thanks for the wake-up call.

  
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About author/contributor Member: NoNukes (Harvey Wasserman) NoNukes (Harvey Wasserman)
   Web site: http://www.SolarTopia.org

Member: NoNukes (Harvey Wasserman) Free Press Senior Editor and "Superpower of Peace" columnist Harvey Wasserman is author or co-author of a dozen books including SOLARTOPIA! Our Green-Powered Earth, A.D. 2030; Harvey Wasserman's History of the U.S.; and, A Glimpse of the Big Light: Losing Parents, Finding Spirit.

With Bob Fitrakis, Harvey has helped expose the theft of the presidency. Their freepress.org coverage has prompted Rev. Jesse Jackson to call them "the Woodward and Bernstein of the 2004 election." Their books include How the GOP Stole America's 2004 Election & Is Rigging 2008, and What Happened in Ohio?, coming soon from the New Press.

Harvey's widespread appearances throughout the major media and at campuses and citizen gatherings have focussed since the 1960s on energy, environment, peace, justice, U.S. history and election protection.

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