Pushed aggressively by President Obama and Energy Secretary Chu, who refuses to meet with longtime nuclear industry critics, here is what “on your back” means:
1. Wall Street will not finance new nuclear plants without a 100% taxpayer loan guarantee. Too risky. That’s a lot of guarantee given that new nukes cost $12 billion each, assuming no mishaps. Obama and the Congress are OK with that arrangement.
2. Nuclear power is uninsurable in the private insurance market—too risky. Under the Price-Anderson Act, taxpayers pay the greatest cost of a meltdown’s devastation.
via Nuclear Nightmare – The Nader Page.
Filed under: Action Alert!, activism, energy, Global Warming, grassroots democracy, News, Ralph Nader Tagged: | Barack Obama, Chu, nuclear power, Obama, Price-Anderson Act, Price–Anderson Nuclear Industries Indemnity Act, Ralph Nader, wall street
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