While Germany is scrapping all of its nuclear program and France cutting nuclear back by 33%, the UK announces plans to expand its nuclear program. There have been no nuclear plants built in the UK or USA for over 20 years, with good reason, since no commercial company is prepared to adopt this dangerous and expensive approach to power generation. Now, plans to build a giant new nuclear plant at Hinkley Point have been announced, underwritten by the British, Chinese, and French governments. It is solely our tax revenues and the idiocy of the out-of-date state make this expansion of nuclear power possible – even after the disastrous experiences of Fukushima and Chernobyl.
from The State of Business, chapter 20
“Government schemes create another major distortion of the natural evolution of business in society. These are designed to protect and promote certain industries—even when they are outdated and delivering overpriced product. Nuclear power was developed for one purpose alone—to supply material for the state’s nuclear weapons. It does not make economic sense and is uninsurable. Not even the most notorious industrialist of the nineteenth century would have jeopardized his entire wealth on such a risk. What company could cover the loss of a city the size of Tokyo or London, the re-location of its residents, and their medical bills for life? That responsibility falls upon the state and we must wonder whether they will be able to cover it. We now know that the evacuation of Tokyo was considered after Fukushima, and have been told that, if all goes well, it will take over forty years to clean up the mess and stabilize the dangerously damaged reactors.”
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