So one of the beauties of a free market system is in how it deals with risk and liability. Governments try to address this through regulation and safety laws, but the market invented liability insurance to cover all the bad stuff that could happen from your business setting up shop. So whether you are a doctor, a lawyer, a coder or a mining company, you have to deal with a mix of regulations and insurance requirement to do business. But when your business has the very real risk of blowing da fuk up, poisoning the air land and water in all directions for generations, killing loads of people, and forcing parents to watch their kids die screaming from radiation poisoning due to iodine and cesium contamination, its kinda hard to get a free market actuary like Lloyds of London etc to sign on. Enter the Price-Anderson Act which poof! magically created an insurance scheme, erm "pool" run by the nuclear companies themselves, and HEAVILY subsidized by guess who? All us fucking socialist tax payers! Its a pretty sweet deal, the NRC comes up with some low ball ball dollar values to "blowing da fuk up, poisoning the air land and water in all directions for generations, killing loads of people, and forcing parents to watch their kids die screaming from radiation poisoning due to iodine and cesium contamination" then multiplies that by its own infinitesimally small number of probability that anything will EVER go wrong (Chernobyl, Fukishima? Never heard of 'em)
>"One of the probability figures on the staff table of results (the chance of a cancer fatality within 10 miles of the plant) for a particular configuration is presented as 2 trillionths per year (2×10-12). Or, to put it another way, if a plant kept operating forever in that configuration, the accident might happen about once in 500 billion years. That’s once in 30 lifetimes of the universe."
and whoopso presto we have a liability number! And again, that bill is picked up by all us socialists paying taxes. Small problem. Fukishima not only did happen, its still is. To the tune of $750B and climbing. The US has around two dozen such reactors, all over 40 years old, now I'm no mathematician but two dozen times $750B is a Big Fukin Number. On that this magical insurance "pool" comes nowhere near being able to cover. So the numbers not only don't make sense, they REALLY don't make sense, esp to the vendors:
>"...the vendors continue to maintain their insistence on freedom from liability for offsite consequences."
If you accept the NRC accident estimates, the risk the vendors would run without an exemption from liability would be very small, and likely a lot smaller than other corporate risks they routinely run. What is clear is that the nuclear firms—the largest of which possess an understanding of nuclear safety far beyond that of the public—do not believe the NRC safety conclusions that the risk of a catastrophic nuclear accident is infinitesmal. Nor do they accept that probable risk—probability of an accident times the consequences, were one to occur—as the right measure of risk to their companies. They don’t want to risk their companies, period."
So its the same old same old: vendors make a Killing off of those sweet government funded cost+ contracts to build this crap and do a piss poor job of maintaining, securing and running (not to mention what to do with the waste, shhhhh!) and they shunt all the risk off onto this highly subsidized insurance scam, erm pool, that won't even come close to covering the cost of an accident WHEN it happens.
Privatize profits, socialize risk. Its the Republican Way. Yeah yeah they bribed some Dems too, but when you are looking to avoid accountability and make working people pay and take all the risk, you call a Republican. And this is why they are pushing Nuclear so hard, and if this particular cylinder falls over, who picks up the bill?
https://thebulletin.org/2020/0...