It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
From the U.S. to Japan, it’s illegal to drive a car without sufficient insurance, yet governments around the world choose to run over 440 nuclear power plants with hardly any coverage whatsoever.
Japan’s Fukushima disaster, which will leave taxpayers there with a massive bill, brings to the fore one of the industry’s key weaknesses — that nuclear power is a viable source for cheap energy only if it goes uninsured.
The cost of a worst-case nuclear accident at a plant in Germany, for example, has been estimated to total as much as €7.6 trillion ($11 trillion), while the mandatory reactor insurance is only €2.5 billion.
“The €2.5 billion will be just enough to buy the stamps for the letters of condolence,” said Olav Hohmeyer, an economist at the University of Flensburg who is also a member of the German government’s environmental advisory body.
The situation in the U.S., Japan, China, France and other countries is similar.
New York Gov. Andrew Cuomo calls the Indian Point nuclear power plant near New York City a 'catastrophe waiting to happen.' Federal nuclear power regulators promise to make Indian Point, which sits near a fault, a top priority in their review of seismic hazards.
That may be true of a hurricane where the insurance money covers the destroyed houses, lots of money is made rebuilding and re-furnishing the houses.
Originally posted by g146541
Mmmmhm environmental disaster is a great money maker, and best of all...