Amory Lovins and Imran Sheikh have penned a new report on nuclear energy as a fossil fuel option, concluding that nuclear is still dangerous and complicated, not particularly reliable, creates a pollution problem that lasts for many millennia and is therefore a waste of money that could be spent more productively on renewable energy.
Perhaps most devastating to the free market fans, Lovins and Sheikh note that “nuclear power plants are unfinanceable in the private capital market because of their excessive costs and financial risks and the high uncertainty of both.”
“During the nuclear revival now allegedly underway, no new nuclear project on earth has been financed by private risk capital, chosen by an open decision process, nor bid into the world’s innumerable power markets and auctions. No old nuclear plant has been resold at a value consistent with a market case for building a new one.”
The hat tip here goes to Steve Milloy, Junk Scientist extraordinaire and unreconstructed PR guy, who pointed to the Lovins’ paper in a hyperventilating screed on the Fox News wire. Thanks Steve.