Archive for February 3rd, 2008


Nuclear power. A reader comments.

John Couzin in Scotland commented in our recent post about nuclear power that it is problematic in the UK. I emailed him asking for more information. Here’s his reply.

All nuclear power stations have leaks of some kind, some internal some external, some pass without comment others create news. They also have “glitches” which don’t result in a leak but a shutdown, which in a normal power station is a nuisance but in a nuclear it could be the start of a disaster. The Sellafield problem is two fold it is a nuclear reprocessing plant as well as a power station, hence the big problem with the clean up there. It has had several leaks over a long period of time, at least one rather nasty fire. Several areas of the beaches around it are contaminated. Even the water that they discharge into is contaminated, Norway and Ireland have complained to the British government about the radio active contamination of their waters. The very use of radio active material means that what it comes in contact with also becomes radio active this in turn creates problems in containment and decommissioning.

I don’t have any information on the French situation but going by historical evidence in every other country they must have had leaks and/or problems of some sort and nobody has said they have found the answer to the decommissioning problem or surely we would be doing something similar. Don’t be fooled by thinking that you can run a nuclear power station for years and not have a radio active problem on the site. Everything man made breaks down, aircraft fall from the sky, ships sink, bridges collapse but we are suppose to believe that it won’t happen in a nuclear power station, (Three Mile Island). All of these other accidents are a tragedy, in a nuclear case it can be a catastrophe for years and/or generations to come over an incredible distance, (blowing in the wind).

All the information that I have is easy available from the British broadsheets The Independent, Guardian, Herald, The Times, etc. all on line now, and what I can find on the web.

While nukes could keep the lights on until we figure out what comes next, an alternative is energy conservation coupled with massive renewable energy development. We can certainly do both. Conservation doesn’t mean we all have to live by candlelight, but with smart grids, use of CFLs and LEDs, and other such measures, we could probably cut energy consumption 10-20% without much noticeable difference in our lifestyles.

The question is, can renewables provide enough clean non-carbon-emitting power to keep the grid going? Keep in mind that China and India are developing fast and will use coal if other low-cost alternatives aren’t available. Even an industrialized country like South Africa says they need up to twelve new nuclear plants because their electrical production is woefully short of what’s needed, causing ongoing rolling blackouts everywhere.

There are no easy answers here.

PS Apropos to the discussion: Rolling blackouts for mid-Atlantic states and the coming State of New York energy shortage.

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Obama closing fast

Right now, Obama has Big Mo.

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Crazy week on the stock market

Monoline bond insurers got downgraded or put on negative watch, employment numbers headed down for the first time in years, tech giant Google blew their earnings - and the stock market went up last week.

While the markets can certainly stay irrational longer than one can stay solvent, I’m guessing this current burst of irrational exuberance will be ending sooner rather than later, and quite abruptly.

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Chad’s future Taliban enters capital while the West is asleep

snore

Why is it that Republicans and Democrats in D.C. continually try to out-flank each other by gittin’ tough on terrorism yet everyone was apparently snoozing as rebel forces took Chad?

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U.S. Drought Monitor

 southeast US drought map, 01/28/08

Updated every Thursday morning, the U.S. Drought Monitor displays current drought conditions with a clickable map so you can drill down to regions, then individual states.

As you can tell from the map, the southeast is still experiencing major drought. The darker the red, the worse the drought. However, just a few weeks ago, most of Georgia was dark red, so conditions are improving.

Here in CT we had an unusual for us drought for several months in the summer, fall, and part of the winter. But gradually, it lessened from severe drought to moderate, then to extremely dry. And now, no dryness at all. In fact we had monsoonal rains last night.

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Are big banks addicted to risk?

risk

From the normally apolitical Oligopoly Watch.

The gambling, ahem, investment strategy took place in the totally unregulated over-the-counter future market, one almost totally immune from government regulation. At least the exchange future markets, where you can get clobbered as well, demands, as Roeder points out, “daily margin calls in the United States, so even the most obtuse investment bank quickly sees when it is a few million in arrears.” No such regulation exists at the OTC counter-and any attempt now will result in howls of “let the market decide.”

It’s hard to see this as an unfortunate case of aberrant behavior by a rogue trader. It is just a slight exaggeration of the top-down strategy of financial institutions.

If a financial institution thinks itself too big to fail because the government would do a bailout, then it has even less reason to mitigate risk. Such an arrangement also makes it quite unclear just who is governing who.

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