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Cost of a nuclear disaster in Germany? 7.6 trillion euros!

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posted on Apr, 21 2011 @ 11:16 PM
You thought bailing out the bankers was bad?

As Fukushima bill looms, nations weigh dilemma: nuclear plants viable only when uninsured

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.

€2.5 billion/€7.6 trillion = 0.003% insurance. Pretty nice. Hell if that applied to cars or houses, it wouldn't be long before insurance companies would go bankrupt! But eh, those bastards in the nuke industry, just like the bankers, don't have to follow the same ``rules`` as us... because you know... they are better... somehow.

The governments are bought and paid for by the nuke industry. This just shows it a little more.

Now I'm not against nuclear power... when it's done RIGHT with MODERN nuclear reactors designs and placing the nuclear reactors in SAFE AREAS... but come on, when nuclear corporations have that low of an insurance to pay... at least force them to reduce the risks of accidents... BY CLOSING THE OLD PLANTS...

And this kind of insanity is not just in Germany, it's in all countries with nuclear power. Wanna bet how much it would be if the Indian Point nuclear power plant had a Fukushima/Chernobyl type of accident? Yeah it would be in the trillions.

You think it can't happen? Think again :

Top priority in US earthquake study: nuclear power plant near New York City

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.

edit on 21-4-2011 by Vitchilo because: (no reason given)

posted on Apr, 21 2011 @ 11:21 PM
That's insane. People need to wake up and realize that were being screwed big time.

posted on Apr, 22 2011 @ 02:15 AM
reply to post by Vitchilo

Mmmmhm environmental disaster is a great money maker, and best of all...
If done right, or close to right it is totally legal!
So, folks may die.
As long as the bottom line gets fatter.

posted on Apr, 22 2011 @ 01:02 PM

Originally posted by g146541
Mmmmhm environmental disaster is a great money maker, and best of all...
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.

But that's not the case with nuclear disasters, the destruction largely is NOT covered by insurance.

Maybe we should all get our representatives to support larger mandatory insurance coverage, that might do even more to ensure the safety of the nuclear plants, or at least to provide some compensation if an accident happens.

But building a plant anywhere near NYC seems like an insanely bad idea. There are much more remote areas to build in.

posted on Apr, 22 2011 @ 02:05 PM
reply to post by Arbitrageur

Correct, the big insurance will not have to cover alot.
The little guys,....(You and I) will cover it!
After all it is a necessity.
Someone's gotta make money on a good disaster.

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