NIRS STATEMENT ON CANCELLATION OF IDAHO NUCLEAR REACTOR

1/28/08

NIRS STATEMENT ON CANCELLATION OF IDAHO NUCLEAR REACTOR

FOR IMMEDIATE RELEASE Contact: Michael Mariotte
January 28, 2008 301-270-6477

NIRS STATEMENT ON CANCELLATION OF IDAHO NUCLEAR REACTOR

Today, MidAmerican Nuclear Energy Company announced that it is cancelling its plans to build a new nuclear reactor in Payette County, Idaho.

The company cited the poor economics of nuclear power for its decision, saying that its “due diligence process has led to the conclusion that it does not make economic sense to pursue the project at this time.”

MidAmerican was planning on Warren Buffett’s Berkshire/Hathaway company to provide major financing for the project. Buffett is a major owner of MidAmerican.

Which leads NIRS to the obvious conclusion: if Warren Buffett cannot figure out how to make money from a new nuclear reactor, who can?

“This cancellation is the first of the new nuclear era,” said Michael Mariotte, executive director of Nuclear Information and Resource Service, “but it won’t be the last. Even before any new nuclear construction has begun in the U.S., cost estimates have skyrocketed and are now 300-400% higher than the industry was saying just two or three years ago.”

“The extraordinary costs of nuclear power, coupled with its irresolvable safety and radioactive waste problems, killed the first generation of reactors, and are going to end this second generation as well. But it would be tragedy if the U.S. wasted any money on new reactors, when resources are so desperately needed to implement the safer, cheaper, faster, and sustainable energy sources needed to address the climate crisis,” Mariotte added.
NEWS FROM NIRS
Nuclear Information and Resource Service
6930 Carroll Avenue, #340, Takoma Park, MD 20912
301-270-6477; f: 301-270-4291; nirsnet@nirs.org; www.nirs.org

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Ten Reasons To Say No To Nuclear Power

1. Climate change is underway. Renewable energy can be brought online faster, more cheaply and more safely than nuclear power. 2. Reactors are sitting-duck targets and are not even defended to the ferocity of the 9/11 attacks. 3. Nuclear power is not emissions-free. Reactors routinely release radioactivity and use fossil fuels at every step from uranium mining to waste storage. 4. Building more reactors in the U.S. sends the wrong message abroad. Commercial nuclear technology inevitably leads to nuclear weapons capability. 5. The Yucca Mountain high-level radioactive dump is unsound and even if opened could not accommodate all wastes if generation continues. 6. Evacuation plans are unrealistic. Hurricane Katrina taught us that a mass evacuation during a serious radiological release would be a chaotic catastrophe. 7. A typical 1000 megawatt nuclear reactor produces enough plutonium each year to make 40 atomic bombs, an unacceptable risk. 8. New and old reactors are most prone to break down. U.S. reactors are old. New ones increase the risk of accident. 9. The Nuclear Regulatory Commission—mandated to watchdog the nuclear industry – chooses to protect industry profit over public health and safety. 10. The most defenseless are at the greatest risk—children, the elderly, minorities, the poor and animals—at every phase of the nuclear fuel chain. Ten Brighter Ideas 1. If every U.S. household installed one compact fluorescent light bulb, the power savings would equal the power produced by one nuclear reactor. 1=1! 2. Twenty compact fluorescents in every U.S. home could displace at least 25% of U.S. nuclear reactors. 3. Updated lighting, appliances, heating, cooling and other electrical systems can save more energy than all 103 U.S. reactors produce annually. 4. Cost-effective energy efficiency measures for homes and businesses can save at least 20% of electricity use. 5. Turning off and unplugging electrical equipment not in use and line-drying clothes seem like small measures but can make a big difference. 6. Homeowners and renters alike can choose to buy green power instead of nuclear generated electricity. 7. Properly sealing and insulating your home can save 25%-40% of building heat loss. 8. Renewable energy sources can meet 25% of U.S. energy needs by 2025. 9. Shifting to locally-generated electricity avoids waste, reduces brownouts and blackouts, increases efficiency of service and creates jobs. 10. Every dollar spent on nuclear power instead of fossil fuels results in releasing six times more carbon than if the same dollar is spent on efficiency. www.nirs.org 301.270.6477

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1/28/08