Common Dreams NewsCenter

We Can't Do It Without You!

Home | About Us | Donate | Signup | Archives | Search

Home > Progressive Community > NewsWire > For Immediate Release
Printer Friendly Version E-Mail This Article
Nuclear Information and Resource Service (NIRS) Statement on Cancellation of Idaho Nuclear Reactor

January 28, 2008
4:01 PM

CONTACT: Nuclear Information and Resource Service (NIRS)
Michael Mariotte 301-270-6477

NIRS Statement on Cancellation of Idaho Nuclear Reactor

TAKOMA PARK, MARYLAND - January 28 - Today, MidAmerican Nuclear Energy Company announced that it is cancelling its plans to build a new nuclear reactor in Payette County, Idaho.

The company cited the poor economics of nuclear power for its decision, saying that its “due diligence process has led to the conclusion that it does not make economic sense to pursue the project at this time.”

MidAmerican was planning on Warren Buffett’s Berkshire/Hathaway company to provide major financing for the project. Buffett is a major owner of MidAmerican.

Which leads NIRS to the obvious conclusion: if Warren Buffett cannot figure out how to make money from a new nuclear reactor, who can?

“This cancellation is the first of the new nuclear era,” said Michael Mariotte, executive director of Nuclear Information and Resource Service, “but it won’t be the last. Even before any new nuclear construction has begun in the U.S., cost estimates have skyrocketed and are now 300-400% higher than the industry was saying just two or three years ago.”

“The extraordinary costs of nuclear power, coupled with its irresolvable safety and radioactive waste problems, killed the first generation of reactors, and are going to end this second generation as well. But it would be tragedy if the U.S. wasted any money on new reactors, when resources are so desperately needed to implement the safer, cheaper, faster, and sustainable energy sources needed to address the climate crisis,” Mariotte added.


Printer Friendly Version E-Mail This Article
Common Dreams NewsCenter is a non-profit news service
providing breaking news and views for the Progressive Community.

The press release posted here has been provided to Common Dreams NewsWire by one of the many progressive organizations who make up America's Progressive Community. If you wish to comment on this press release or would like more information, please contact the organization directly.
*all times Eastern US (GMT-5:00)

Making News?
Read our Guidelines for Submitting News Releases is an Internet-based progressive news and grassroots activism organization, founded in 1997.
We are a nonprofit, progressive, independent and nonpartisan organization.

Home | About Us | Donate | Signup | Archives | Search

To inform. To inspire. To ignite change for the common good.