Monday, May 12, 2008

The cost of future Energy gets more expensive

From the WSJ:

A new generation of nuclear power plants is on the drawing boards in the U.S., but the projected cost is causing some sticker shock: $5 billion to $12 billion a plant, double to quadruple earlier estimates.

Nuclear power is regaining favor as an alternative to other sources of power generation, such as coal-fired plants, which have fallen out of favor because they are major polluters. But the high cost could lead to sharply higher electricity bills for consumers and inevitably re-ignite debate about the nuclear industry's suitability to meet growing energy needs.

Nuclear plants haven't been built in meaningful numbers in the U.S. since the 1980s. Part of the cost escalation is bad luck. Plants are being proposed in a period of skyrocketing costs for commodities such as cement, steel and copper; amid a growing shortage of skilled labor; and against the backdrop of a shrunken supplier network for the industry.

Comment: Since we have neglected, over the last 25-30 years, to build enough plants to meet our current and future energy needs, it looks like we may have to swallow the bitter pill of paying through the nose. Blame environmental hysteria and fear mongering

Possible solution: A carbon tax on fossil fuel emitter plants will continue to make nuclear power construction economically viable.

Check out the great post on a similar subject at
The BoBo Files

1 comment:

BoBo said...

I didn't post exactly the same thing as you did, but there are similarities! I mentioned we need to build more nukes! LOL. I'm linking back to your story as well now!