1
   

Chavez threatens to cut off oil to US, 15% of US's supply!!!

 
 
Finn dAbuzz
 
  1  
Reply Fri 7 Dec, 2007 11:16 pm
kuvasz wrote:
Finn dAbuzz wrote:
Nuclear Energy!

That's the answer, but the Liberal Luddites of America will have no part of it.

(Unlike their French counterparts)

Better Wind Farms, as long as they don't obscure the scenic view of Walter Cronkite, or present a peril to migratory birds in Texas.

Better ethanol despite the fact that it still cannot economically compete with oil --- despite the high price of oil and considerable government subsidies. And despite the fact that it will lead to higher food prices, and possibly shortages.

Better solar power despite the fact that no one has come up with a feasible way to produce it on a mass scale. Massive power cells in space. What objections will the Luddites have for that?

Better all the cool alternatives. You know, the ones that make you feel as if we are in synch with nature. Since, as we know, petroleum, coal and the splitting of atoms has nothing to do with Nature.


I agree, yet don't believe that the private sector ought to be responsible, nor would they. i support a program that would allow the federal government to run all nuclear power plants run by a "Nuclear Corps," trained just like US Navy's Nuclear School, with both engineers, support, and security as members that rises to the standards and discipline of the American military.

the cost would be national, there would be no need for the convolutions found in the current legislation that curbs damages in event of a nuclear catastrophy.

only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.

and that is the issue, safety. once the public is molified about safety concerns the chance of building these plants will rise.


Well, here is we differ Old Friend.

I think we agree that nuclear energy is the answer, but you, with your leftist leanings, believe it's use must be regulated by the State.

I, with my right wing sensibilities, shiver to think that The State can manage to compentently manage nuclear energy, and prefer to rely upon the market place that recognizes that consumers want safety as well as savings.

You are wrong and I am right, but what else is new?
0 Replies
 
rabel22
 
  1  
Reply Sat 8 Dec, 2007 12:41 am
Three mile island was a private enterprise. I think i would rather go with the governmental angle.
0 Replies
 
Finn dAbuzz
 
  1  
Reply Sat 8 Dec, 2007 12:59 am
rabel22 wrote:
Three mile island was a private enterprise. I think i would rather go with the governmental angle.


And what were the ramifications of Three Mile Island?

Please be specific.

The ramifications of Chernobyl were and continue to be devastating, and, as we all know, Chernobyly was administered by The State.

Get real...please.
0 Replies
 
kuvasz
 
  1  
Reply Sat 8 Dec, 2007 02:37 am
Finn dAbuzz wrote:
kuvasz wrote:
Finn dAbuzz wrote:
Nuclear Energy!

That's the answer, but the Liberal Luddites of America will have no part of it.

(Unlike their French counterparts)

Better Wind Farms, as long as they don't obscure the scenic view of Walter Cronkite, or present a peril to migratory birds in Texas.

Better ethanol despite the fact that it still cannot economically compete with oil --- despite the high price of oil and considerable government subsidies. And despite the fact that it will lead to higher food prices, and possibly shortages.

Better solar power despite the fact that no one has come up with a feasible way to produce it on a mass scale. Massive power cells in space. What objections will the Luddites have for that?

Better all the cool alternatives. You know, the ones that make you feel as if we are in synch with nature. Since, as we know, petroleum, coal and the splitting of atoms has nothing to do with Nature.


I agree, yet don't believe that the private sector ought to be responsible, nor would they. i support a program that would allow the federal government to run all nuclear power plants run by a "Nuclear Corps," trained just like US Navy's Nuclear School, with both engineers, support, and security as members that rises to the standards and discipline of the American military.

the cost would be national, there would be no need for the convolutions found in the current legislation that curbs damages in event of a nuclear catastrophy.

only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.

and that is the issue, safety. once the public is molified about safety concerns the chance of building these plants will rise.


Well, here is we differ Old Friend.

I think we agree that nuclear energy is the answer, but you, with your leftist leanings, believe it's use must be regulated by the State.

No, instead of speaking like an ideologue as you have, I speak as a trained scientist speaking common sense, and have historical evidence to support my position. I am afraid that if left to the private sector the protections necessary for the adequate public safety will not be met. The amount of damages plantiffs can sue private nuclear plants already has been capped by Congress, otherwise insurance companies would not insure the nuclear plants. Even the holy marketplace does not trust the owners of these plants to operate them sufficiently so that the only way to insure them at all requires the government to step in. I can think of no greater debunking of your belief that the market is self-regulating than if you cannot privately insure a business unless the government gaurantees it, and by actual extension it shows that the free market does not believe nuclear power is safe and viable.

That's why the last resort of the society, viz., the government will have to step in and do the dirty work.


I, with my right wing sensibilities, shiver to think that The State can manage to compentently manage nuclear energy, and prefer to rely upon the market place that recognizes that consumers want safety as well as savings.

Well then, you denigrate thousands of American scientists and technicians then, since the US Navy has been using nuclear power on ships for nearly a half a century (my dad built the first containment vessel on the first nuclear sub in the Philadelphia Naval Shipyard in the late '50's), with less severe incidents than Three Mile Island, Peachbottom, or Chernobyl, so in fact the government run nuclear programs appear both safer and less prone to mechanical failure or human mistakes.

That is the important feature of running the plants akin to a military operation.


You are wrong and I am right, but what else is new?

Obviously, facts remain inconvenient to you, and you would rather start from a ideological stance than examine the actual facts of the situation, then propose a solution.

If the only tool you have is a hammer, you tend to see every problem as a nail.

Thus, if you worship the marketplace it is the only thing you believe that is effective, but the facts do not support that concerning nuclear power.

0 Replies
 
username
 
  1  
Reply Sat 8 Dec, 2007 03:34 am
Government or private sector, it's HUMANS I don't trust to run nukes. The number of times they connect the wrong pipes, or turn off sensors and forget to turn them back on, or miswire connections, or fall asleep in the control room, or hit the wrong backup circuit, or lack adequate training, or ignore corrosion problems endemic to reactor design, is anecdotally rather staggering. The NRC periodically goes on a screamer about something or other, and they tighten up for a few months, and then it seems to slip back into the old slipshoddiness. One mistake too many, and kablooey(well, no, probably not kablooey, but extraordinarily unpleasant anyway). Triple the number of reactors, triple the possibilities for error, and so0oner or later another one will happen. Pebble bed reactors might be different, but as far as I know they still haven't even gotten anything other than a fractional-power test-of-concept one up and running, so you can't make any rosy predictions about them yet.
0 Replies
 
engineer
 
  1  
Reply Sat 8 Dec, 2007 11:36 am
Finn dAbuzz wrote:
rabel22 wrote:
Three mile island was a private enterprise. I think i would rather go with the governmental angle.


And what were the ramifications of Three Mile Island?

Please be specific.

Finn has an excellent point here. If you were standing at the fence surrounding TMI, you would have received three mrem of additional exposure. By comparison, you yearly receive 100 mrem of exposure from natural sources at sea level and 300 mrem at an elevation of one mile (Denver for example). US regulation on nuclear power is more extensive than on any other industry. Commercial operation with government oversight seems to work great.
0 Replies
 
engineer
 
  1  
Reply Sat 8 Dec, 2007 11:42 am
username wrote:
Government or private sector, it's HUMANS I don't trust to run nukes. The number of times they connect the wrong pipes, or turn off sensors and forget to turn them back on, or miswire connections, or fall asleep in the control room, or hit the wrong backup circuit, or lack adequate training, or ignore corrosion problems endemic to reactor design, is anecdotally rather staggering. The NRC periodically goes on a screamer about something or other, and they tighten up for a few months, and then it seems to slip back into the old slipshoddiness. One mistake too many, and kablooey(well, no, probably not kablooey, but extraordinarily unpleasant anyway). Triple the number of reactors, triple the possibilities for error, and so0oner or later another one will happen. Pebble bed reactors might be different, but as far as I know they still haven't even gotten anything other than a fractional-power test-of-concept one up and running, so you can't make any rosy predictions about them yet.


With modern ceramic technology and some not especially clever reactor design, you can make a reactor that cannot melt down, one that should it go out of control will simply go sub critical. Conventional plants are slowly killing you and ruining the environment their emissions. It is time to consider nuclear as a real alternative.
0 Replies
 
mysteryman
 
  1  
Reply Sat 8 Dec, 2007 01:07 pm
Quote:
only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.



http://www.sce.com/PowerandEnvironment/PowerGeneration/SanOnofreNuclearGeneratingStation/default.htm?goto=songs



Quote:
The San Onofre Nuclear Generating Station (SONGS) is jointly owned by Southern California Edison (SCE) (75% ownership), San Diego Gas & Electric (20%), and the cities of Riverside and Anaheim. Today, SONGS provides nearly 20% of the power to more than 15 million people in Southern California -- enough power to serve 2.75 million households.


I used to live within 3 miles of this plant, and they never had a problem.

Private enterprise is the only way to run a nuclear power plant, exactly because they want to make a profit.
Since they want to make a profit, they will do whatever they have to to make sure the plant is safe.
Have there been accidents in the past?
Yes there have.
Have companies learned from their mistakes?
Yes they have.

Someone mentioned Cherynobl.
That plant was of a design that has NEVER been allowed to be built in the US because of its design flaws.

More people have died in the US in coal mining accidents in the last 2 years then have died in accidents involving Nuke plants totally.

Nuke plants can be run for a profit, and run safely.
The two do not cancel each other out.
0 Replies
 
roger
 
  1  
Reply Sat 8 Dec, 2007 01:49 pm
mysteryman wrote:

Someone mentioned Cherynobl.
That plant was of a design that has NEVER been allowed to be built in the US because of its design flaws.


I also prefer private enterprise, but with government regulation and oversight. As this type of plant has never been allowed in the U.S., I assume we are in agreement.
0 Replies
 
mysteryman
 
  1  
Reply Sat 8 Dec, 2007 01:55 pm
roger wrote:
mysteryman wrote:

Someone mentioned Cherynobl.
That plant was of a design that has NEVER been allowed to be built in the US because of its design flaws.


I also prefer private enterprise, but with government regulation and oversight. As this type of plant has never been allowed in the U.S., I assume we are in agreement.


I have no problem with govt oversight and regulating of nuclear plants, but I dont want the govt running them.

To give you an example of how private enterprise is better, lets look at animals.
There are NO animals on the endangered species list that man makes a profit on.
From cattle to hogs to mink to ferrets to any animal you care to mention, if people are making a profit on them, they arent endangered.

Nuclear power is one of the best sources of electrical power, but the word "nuclear" scares to many people.
0 Replies
 
kuvasz
 
  1  
Reply Sat 8 Dec, 2007 02:18 pm
mysteryman wrote:
Quote:
only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.


http://www.sce.com/PowerandEnvironment/PowerGeneration/SanOnofreNuclearGeneratingStation/default.htm?goto=songs

Quote:
The San Onofre Nuclear Generating Station (SONGS) is jointly owned by Southern California Edison (SCE) (75% ownership), San Diego Gas & Electric (20%), and the cities of Riverside and Anaheim. Today, SONGS provides nearly 20% of the power to more than 15 million people in Southern California -- enough power to serve 2.75 million households.


I used to live within 3 miles of this plant, and they never had a problem.

Private enterprise is the only way to run a nuclear power plant, exactly because they want to make a profit.
Since they want to make a profit, they will do whatever they have to to make sure the plant is safe.
Have there been accidents in the past?
Yes there have.
Have companies learned from their mistakes?
Yes they have.

Someone mentioned Cherynobl.
That plant was of a design that has NEVER been allowed to be built in the US because of its design flaws.

More people have died in the US in coal mining accidents in the last 2 years then have died in accidents involving Nuke plants totally.

Nuke plants can be run for a profit, and run safely.
The two do not cancel each other out
.


The only way nuclear power is considered to be "safe" in the marketplace is by direct intervention of the federal government.

The Price-Anderson Act bestows a twofold subsidy on the nuclear industry. First, the Act artificially limits the amount of primary insurance that nuclear operators must carry - an uncalculated indirect subsidy in terms of insurance premiums that they don't have to pay.

This distorts electricity markets by masking nuclear power's unique safety and security risks, granting nuclear power an unfair and undesirable competitive advantage over safer energy alternatives.

Second, Price-Anderson caps the liability of nuclear operators in the event of a serious accident or attack, leaving taxpayers on the hook for most of the damages.

This makes capital investment in the nuclear industry more attractive to investors because their risk is minimized and fixed.

Consequently, the Act is a dual-edge sword for the public that it purportedly protects.

The legislation was intended first of all to bolster investor confidence, whereas victim compensation is secondary.

Price-Anderson establishes only phantom insurance for the public, then provides a real bailout mechanism for the nuclear energy industry by reducing its need to pay for insurance, subsidizing the industry at the taxpayers' expense. If proposed new reactors are as safe and economical as the nuclear industry claims, the industry should be able to privately insure these ventures without an extension of the Price-Anderson crutch.

When Congress first enacted Price-Anderson in 1957, it was designed to be a temporary measure to prop up an infant industry. After nearly five decades and billions in hand-outs, it is impossible to justify extending subsidies like the Price-Anderson Act.

For more, pro and con.

http://www.nuclearpowerprocon.org/pop/Price-Anderson.htm

http://en.wikipedia.org/wiki/Price-Anderson_Nuclear_Industries_Indemnity_Act

http://www.thenation.com/doc/20011210/bivens20011126

http://www.opensecrets.org/news/nuclear/index.asp

What is not surprising is that the typical A2K apologists for market-only solutions appear sufficiently uninformed to boast about how private companies can produce nuclear power cheap and safe when the entire industry actually is based upon and backed by the government intervention in the marketplace they detest.

and guys, I am an advocate of nuclear power, if done correctly, because an "accident " in a nuclear plant is a quantum difference versus coal miners getting trapped three miles under the ground in rural West Virginia or even the Exxon Valdese.

A singular accident at a nuclear plant has the potential to devestate an entire state and leave it uninhabitable for all life for hundreds of years.

And being such a potential problem for the entire country, I want the military to run the show. So yes, I trust the US military to protect me from disaster before I would civilians chasing after a profit.

But that's just me, but apparently I have more faith in the American military than some others do
0 Replies
 
georgeob1
 
  1  
Reply Sat 8 Dec, 2007 03:21 pm
kuvasz wrote:
Finn dAbuzz wrote:
Nuclear Energy!

That's the answer, but the Liberal Luddites of America will have no part of it.

(Unlike their French counterparts)



I agree, yet don't believe that the private sector ought to be responsible, nor would they. i support a program that would allow the federal government to run all nuclear power plants run by a "Nuclear Corps," trained just like US Navy's Nuclear School, with both engineers, support, and security as members that rises to the standards and discipline of the American military.

the cost would be national, there would be no need for the convolutions found in the current legislation that curbs damages in event of a nuclear catastrophy.

only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.

and that is the issue, safety. once the public is molified about safety concerns the chance of building these plants will rise.


The fact is we already have most of what you advocate here, except that it is run voluntarily by the private sector.

Soon after the Three Mile Island fiasco the industry and the government, acting informally together, created the Institute for Nuclear Power Operators - a group initially staffed mostly with Navy nuclear-trained officers and officials. The Institute continuously evaluates the training, standardization, operation and maintenance of the 104 operating nuclear power plants in the country. It is an independent, private body funded entirely by the industry, and designed to promote from within the kind of management and operations integrity that the U.S. Navy (still the largest operator of nuclear powerplants in the world) established long ago.

At the same time the industry is subject to government regulation by the Nuclear Regulatory Commission. This combination has been highly effective in raising the operating efficiency of our nuclear power plants, while at the same time significantly reducing the number of incidents, unplanned plant shutdowns and radiation exposure to both operators and the public.

Today nuclear power plants are, by wide margins, the cheapest, safest, and most environmentally beneficial sources of electrical power in the country. Though they amount to only about 9% of our generating potential, they produce over 20% of the electrical power we consume, precisely because of their reliability and low cost of operations (about 80% the cost of the next cheapest source, coal). (Hydroelectric power is, of course an exception, being less expensive. However our potential for more such sources is mostly gone).

The fears associated with nuclear radiation are exaggerated by human psychology - the fear of snakes and things unseen. The fact is that, 40 years after the supposedly "horrible" Three Mile Island accident, there is no detectable effect on public health or mortality from the exposure resulting from this accident - none, zero ! The radiation exposure that people get from natural sources including the sun, radon gas from the earth, and man-made ones such as medical testing, airline travel and burning coal - are all individually many times larger than that resulting from nuclear powerplants. Statistically - based on measured data - -the average nuclear powerplant is safer than the average street traffic light.

There is a new generation of nuclear plant designs that are both safer and more efficient than the existing ones. We (the U.S.) already have in hand enough enriched nuclear fuel to power the country for nearly a century. New reactor designs that can make use of lower levels of enrichment and even the ubiquitous U-238 isotope, make nuclear power a nearly inexhaustable resource - every bit as "renewable" as wind or solar, far less costly and, unlike wind & solar, actually capable of replacing a significant fraction of our fossil fuel consumption in a short time.
0 Replies
 
rabel22
 
  1  
Reply Sat 8 Dec, 2007 04:28 pm
A question for you nuclear power people. Have they solved the problem of how to neutralize the radioactivity of the power rods, besides burying it for 40,000 years?
0 Replies
 
Setanta
 
  1  
Reply Sat 8 Dec, 2007 04:30 pm
Ahem . . . rumblegrumblerumble . . . excuse me, i had to clear my throat . . .

The sky is falling ! ! ! The sky is falling ! ! !

-- C. Little, attribution date unknown.
0 Replies
 
georgeob1
 
  1  
Reply Sat 8 Dec, 2007 04:36 pm
rabel22 wrote:
A question for you nuclear power people. Have they solved the problem of how to neutralize the radioactivity of the power rods, besides burying it for 40,000 years?


No. It can't be done. Some of the nuclides will remain radioactive for much longer than your time scale.

However arsenic and other natural poisons will remain toxic forever, so I don't see the significance of the point you are making.

The volume of high-level nuclear waste is very small compared to the power produced. The spent fuel from the production of 20% of our electrical power for the last 30 years is today safely stored in wet and dry-cask facilities adjacent to the operating plants. There is ample untapped capacity remaining - even without opening the storage facility at Yucca Mountain Nevada.

The right solution, of course, is to dump it in the ocean in some of the known deep water subsidence zones where geological action will move it down into the molten liquid layers below the earth's mantle.

The stuff will quickly be covered by natural sedimentation (rates of about .5 meters/year are fairly common) and low drag containers have been demonstrated to be capabile of burying themselves initially several meters below the soft surface after a free descent. Water is a very effective shield, and just a few feet away from the buried (and very immobile) material there will be no measurable radiation.
0 Replies
 
kuvasz
 
  1  
Reply Sat 8 Dec, 2007 05:09 pm
georgeob1 wrote:
kuvasz wrote:
Finn dAbuzz wrote:
Nuclear Energy!

That's the answer, but the Liberal Luddites of America will have no part of it.

(Unlike their French counterparts)



I agree, yet don't believe that the private sector ought to be responsible, nor would they. i support a program that would allow the federal government to run all nuclear power plants run by a "Nuclear Corps," trained just like US Navy's Nuclear School, with both engineers, support, and security as members that rises to the standards and discipline of the American military.

the cost would be national, there would be no need for the convolutions found in the current legislation that curbs damages in event of a nuclear catastrophy.

only the federal government has the resources to build, maintain, support, and protect a nuclear power plant. other avenues will by the nature of the profit motive result in less safe nuclear plants.

and that is the issue, safety. once the public is molified about safety concerns the chance of building these plants will rise.


The fact is we already have most of what you advocate here, except that it is run voluntarily by the private sector.

Soon after the Three Mile Island fiasco the industry and the government, acting informally together, created the Institute for Nuclear Power Operators - a group initially staffed mostly with Navy nuclear-trained officers and officials. The Institute continuously evaluates the training, standardization, operation and maintenance of the 104 operating nuclear power plants in the country. It is an independent, private body funded entirely by the industry, and designed to promote from within the kind of management and operations integrity that the U.S. Navy (still the largest operator of nuclear powerplants in the world) established long ago.

At the same time the industry is subject to government regulation by the Nuclear Regulatory Commission. This combination has been highly effective in raising the operating efficiency of our nuclear power plants, while at the same time significantly reducing the number of incidents, unplanned plant shutdowns and radiation exposure to both operators and the public.

Today nuclear power plants are, by wide margins, the cheapest, safest, and most environmentally beneficial sources of electrical power in the country. Though they amount to only about 9% of our generating potential, they produce over 20% of the electrical power we consume, precisely because of their reliability and low cost of operations (about 80% the cost of the next cheapest source, coal). (Hydroelectric power is, of course an exception, being less expensive. However our potential for more such sources is mostly gone).

The fears associated with nuclear radiation are exaggerated by human psychology - the fear of snakes and things unseen. The fact is that, 40 years after the supposedly "horrible" Three Mile Island accident, there is no detectable effect on public health or mortality from the exposure resulting from this accident - none, zero ! The radiation exposure that people get from natural sources including the sun, radon gas from the earth, and man-made ones such as medical testing, airline travel and burning coal - are all individually many times larger than that resulting from nuclear powerplants. Statistically - based on measured data - -the average nuclear powerplant is safer than the average street traffic light.

There is a new generation of nuclear plant designs that are both safer and more efficient than the existing ones. We (the U.S.) already have in hand enough enriched nuclear fuel to power the country for nearly a century. New reactor designs that can make use of lower levels of enrichment and even the ubiquitous U-238 isotope, make nuclear power a nearly inexhaustable resource - every bit as "renewable" as wind or solar, far less costly and, unlike wind & solar, actually capable of replacing a significant fraction of our fossil fuel consumption in a short time.


With all that, is it not true that the privately held insurance companies (those damned bastions of Lefty-Lib thought) continue to refuse to fully insure the plants for liability? Is it not true that the odds-makers who run private insurance companies simply don't trust the current gamble in the situation regardless of the propaganda contained in your paragraphs?

I don't quite understand the inherent inconsistency in the opinions of those who think that while the "free-market" should rule and that private nuclear production is safe and cheap yet ignore the fact that the marketplace doesn't believe that is a true enough statement to bet money on it. They continue to argue that a private sector enterprise is the best way to go, when even the private sector doesn't think so. That itself is the glaring inconsistency.

The alternate could be having it done by a US military already professionally trained and doing this sort of work successfully for one half a century. As far as security around these plants, I would trust a platoon of US Marines a lot better to protect a nuclear plant than cut-rate Blackwater-wannabe Rent-a-Guards.

Guys you're pushing for re-inventing a more poorly made wheel not because it would be the best and safest wheel, but because of your political ideology.

What's worse is that you aren't listening to the market place and it is the First Commandment of your ideology.

Its akin to one whose religion gets in the way of him finding God.
0 Replies
 
georgeob1
 
  1  
Reply Sat 8 Dec, 2007 06:01 pm
I suppose you are referring to the Price-Anderson Act which limits the tort liability of nuclear operators who are acting in full compliance with Nuclear Regulatory Commisssion rules.

The fact is that the government already limits the liability of many industries under Tort law. These range from shippers to aircraft designers and many others. In general these provisions come as a result of explicit government regulation and the assumption of liability by the government for those operators who act in compliance with government regulation. Nothing particularly new and unique here.
0 Replies
 
kuvasz
 
  1  
Reply Sat 8 Dec, 2007 06:33 pm
georgeob1 wrote:
I suppose you are referring to the Price-Anderson Act which limits the tort liability of nuclear operators who are acting in full compliance with Nuclear Regulatory Commisssion rules.

The fact is that the government already limits the liability of many industries under Tort law. These range from shippers to aircraft designers and many others. In general these provisions come as a result of explicit government regulation and the assumption of liability by the government for those operators who act in compliance with government regulation. Nothing particularly new and unique here.



Actually, I am refering to the federal government being forced to step into the so-called free market because the latter has shown five consecutive decades of not trusting nuclear power to be safe enough to insure against accident.

If Nationwide Insurance or Lloyds of London won't trust the nuclear power industry to insure it enough to cover its potential liabilities, why should anybody? That's the free market equivalent of screaming "Run away!."

btw: see a lot of cargo ships or F-14s cause $1,000,000,000,000 in accident damage, do we?

The Price Anderson Act locks in liability at $750,000,000,000, after that tough luck to whomever gets screwed.

Again, a free-marketeer ought to get apoplexic seeing a system where the investor's money is secured potential growth by regulation (of power fees) while liability is shared by the government.
0 Replies
 
georgeob1
 
  1  
Reply Mon 10 Dec, 2007 08:28 am
kuvasz wrote:
....Again, a free-marketeer ought to get apoplexic seeing a system where the investor's money is secured potential growth by regulation (of power fees) while liability is shared by the government.


That's what you say, however, they might not agree.

Government in this case is merely remedying a problem it has created with tort law. It is very difficult for anyone to deal with situations involving very small (indeed infinitesmal) probabilities of horrific events. The normal laws of expected values simply don't apply to human behavior in such situations. The free market doesn't accept risks associated with war or many so called force majeure events either.
0 Replies
 
Finn dAbuzz
 
  1  
Reply Fri 21 Dec, 2007 11:12 pm
kuvasz wrote:
georgeob1 wrote:
I suppose you are referring to the Price-Anderson Act which limits the tort liability of nuclear operators who are acting in full compliance with Nuclear Regulatory Commisssion rules.

The fact is that the government already limits the liability of many industries under Tort law. These range from shippers to aircraft designers and many others. In general these provisions come as a result of explicit government regulation and the assumption of liability by the government for those operators who act in compliance with government regulation. Nothing particularly new and unique here.



Actually, I am refering to the federal government being forced to step into the so-called free market because the latter has shown five consecutive decades of not trusting nuclear power to be safe enough to insure against accident.

If Nationwide Insurance or Lloyds of London won't trust the nuclear power industry to insure it enough to cover its potential liabilities, why should anybody? That's the free market equivalent of screaming "Run away!."

btw: see a lot of cargo ships or F-14s cause $1,000,000,000,000 in accident damage, do we?

The Price Anderson Act locks in liability at $750,000,000,000, after that tough luck to whomever gets screwed.

Again, a free-marketeer ought to get apoplexic seeing a system where the investor's money is secured potential growth by regulation (of power fees) while liability is shared by the government.


The insurance industry is more canny than you believe.

Free marketeers are not at all happy with the notion that governmental intervention is required to allow some fragile promise for profit, but considering the state of our society and legal system as engineered by Liberals, it is, unfortunately, necessary.

A reluctance to insure nuclear power plants is not an indictment of the safety of these plants. It is an indictment of our society which, in the unlikely event of a nuclear mishap, will not only go full bore against the plant, irrespective of legal liability, but the insurers as well.

Witness asbestos.

The only advantage of having the federal government run nuclear power plants is that it enjoys sovereign immunity, however in the event of a mishap watch how quickly the congress will move to allow suits against the government or create a tax payer funded compensation pool.

The private sector, with increasing deregulation, has made the skies over our countries pretty damn safe for travelers. The greatest threat to the safety of travellers lies in the antiquated air traffic control systems which are the responsibility of the federal government.

Few insurers wish to assume aviation risks not because they do not have faith in the safety performance of airlines, but because they know that any and all airline accident will result in payouts of their limits, irrespective of legal liability.

When an air mishap occurs, the self-insured airlines or their insurers do not dither about liability, they immediately contact the survivors of the passengers and offer to settle for large amounts of money. This makes sense because they know that irrespective of any sensible defense, American juries will, inevitably, find for the plaintiffs in these actions and all the sizeable defense costs will be for naught.

Few insurers want to take the risk of insuring manufacturers of athletic equipment. Why, because they know American manufacturers produce shoddy athletic equipment? No, it is because they know that nine times out of ten a jury will ignore liability and award millions to some poor high school kid who breaks his neck in a football game.

The insurance industry is one of the most heavily regulated sectors in the American economy. It is forced to insure risks it does not want at prices that cannot turn a profit: homeowners insurance in hurricane prone states.
If it refuses to lose money on these risks, it is banned from writing any profitable business in the state, or it must pay an extortionist's fee to withdraw from writing any business in the state.

People need insurance, and state politicians need the votes of people. The scene is set.

The very fact that few insurance companies will touch a nuclear power plant enforces the incentive for private owners of these plants to stress safety. They will all be self-insured for the first many millions of liability, and they stand to lose all of their investment (with no potential for recoupments) if there is a mishap.

In it is not altruism that makes private nuclear power plants a safe bet, it's the goal of profit.

Chernobyl was, without question, the worst nuclear energy mishap in the history of mankind. Privately owned or State owned?
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