Is Main Street America Ready For $900 Trillion Nuclear Industry Bailout?

FACT...the last ten Nuclear Reactors built have come in over 300 percent of their original estimated costs. The Nuclear Industry, NEI, NRC and the DOE are wanting loan guarantees and government supplied corporate giveaways to build 200 new reactors here in America, and to build the industry an experimental fuel reprocessing plant (GNEP) that will turn America into the world's nuclear waste dump for all spent reactor fuel. Amount they estimate they are going to need is $3 TRILLION DOLLARS, but that is an open ended figure and could fluctuate upwards as COST OVERRUNS start occurring. Do the math folks, and we are talking a potential NUCLEAR INDUSTRY BAILOUT of $900 TRILLION DOLLARS. Read more at the Green Nuclear Underground.

Friday, March 13, 2009

Cost Over Runs Delay Nuclear Plant...Sound Familiar? Nuclear Renaissance Really Means COST OVER RUNS PAID FOR WITH MAIN STREET TAX DOLLARS

Some things never change, such as the Nuclear Industries inability to bring any project in on time, and on budget. Seems that Taiwan Power has pushed back the start up of their Reactor Number 4 for at least two years while they go to the Government seeking MORE FUNDS. Look back at past history, and the Nuclear Industry has a rich and vibrant history of being 10-50, even 300 times over budget when building reactor projects here in America...lets put that in perspective. They want 100 percent loan guarantees for up to 200 new reactors here in America, as well as financing for GNEP. If you work their math, they want a Taxpayer BAILOUT in the form of loan guarantees and actual cash of between $1.5 and $3 TRILLION DOLLARS. Factor in their standard industry cost overruns, and they want us on the hook for between $30 and $150 or even $900 Trillion Dollars...JUST SAY NO TO NUCLEAR ENERGY which is neither clean or green. Look at how hurt Main Street America is as we cover the $2 Trillion Dollar BAILOUT of Wall Street...are you really ready to TRUST THE NUCLEAR INDUSTRY that brought you Hiroshima and Chernobyl?

Taiwan Power Delays New Nuclear Plant Launch, Seeks More Funds

TAIPEI -(Dow Jones)- Government-owned monopoly utility Taiwan Power Co. has to delay the start of commercial operations at its No. 4 nuclear power plant by two years to 2011 and ask the government for more funds, company spokeswoman Tu Yueh-Yuan said Wednesday.

The plant has been plagued by construction delays, soaring raw material prices, and at one point, a decision by the previous administration to halt construction altogether because of its "nuclear-free homeland" policy.

The budget for the No. 4 plant's two units was originally NT$233.55 billion ( US$6.77 billion), but now Taiwan Power wants to ask the government for about NT$ 40 billion more, said Tu.

"We need more funds mainly because of rising construction costs and the depreciating Taiwan dollar," said Tu.

The figures are not final, as the final new budget must be approved by the government, she said.

Taiwan Power operates three nuclear reactors with a total of six power generating units and a capacity of 5,144 megawatts, or 13.1% of its total installed capacity.

The No. 4 nuclear power plant, built in Lungmen, Taipei County, will operate two units with a planned