As the US attempts to dig out from economic collapse, a little-known nuclear industry liability could seriously derail Obama’s attempt to revive our finances.
It is the federal disaster insurance on 104 rickety atomic reactors.
There is no “rainy day” fund to finance the clean-up after a reactor disaster. No one in government or industry can reasonably explain how we would pay for such a catastrophe.
Chernobyl’s lethal cloud began pouring into the atmosphere 23 years ago this week. Dr. Alexey Yablokov, former environmental advisor to the late President Boris Yeltsin, and president of the Center for Russian Environmental Policy, estimates the death toll at 300,000.
It also gutted the regional economy, and accelerated the Soviet collapse. By conservative accounts Chernobyl’s explosion has so far cost a half-trillion dollars, with its financial toll continuing to accrue.
A disaster at a US reactor could dwarf that number. It is the federal disaster insurance on 104 rickety atomic reactors. Because the industry cannot get its own insurance, we taxpayers are on the hook.
Chernobyl exploded in a remote rural region in an impoverished country. Eighty kilometers away, Kiev was heavily dusted with radiation.
Most American reactors are in what were once considered remote regions. But Indian Point is about half as far from Manhattan as is Chernobyl from Kiev. Likewise San Onofre from Los Angeles, Turkey Point from Miami, Byron from Chicago, Grand Gulf from Baton Rouge, Seabrook and Pilgrim from Boston, Limerick and Peach Bottom from Philadelphia, Calvert Cliffs from Baltimore, Perry from Cleveland, Prairie Island and Monticello from Minneapolis.