Best of the Week
Most Popular
1.The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - Doug_Wakefieldth
2.Tesco Meltdown Debt Default Risk Could Trigger a Financial Crisis in Early 2015 - Nadeem_Walayat
3.The Trend Every Nation on Earth Is Pouring Money Into - Keith Fitz-Gerald
4.Do Tumbling Buybacks Signal Another Stock Market Crash? - 26Mike_Whitney
5.Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - Nadeem_Walayat
6.Gold And Silver Price - Respect The Trend But Prepare For A Reversal - Michael_Noonan
7.U.S. Economy Faltering Momentum, Debt and Asset Bubbles - Lacy Hunt
8.Bullish Silver Stealth Buying - Zeal_LLC
9.Euro, USD, Gold and Stocks According to Chartology - Rambus_Chartology
10.Evidence of Another Even More Sweeping U.S. Housing Market Bust Already Starting to Appear - EWI
Last 5 days
US Mortgages, Risky Bisiness "Easy Money" - 30th Oct 14
Gold, Silver and Currency Wars - 30th Oct 14
How to Recognize a Stock Market “Bear Raid” on Wall Street - 30th Oct 14
U.S. Midterm Elections: Would a Republican Win Be Bullish for the Stock Market? - 30th Oct 14
Stock Market S&P Index MAP Wave Analysis Forecast - 30th Oct 14
Gold Price Declines Once Again As Expected - 30th Oct 14
Depression and the Economy of a Country - 30th Oct 14
Fed Ends QE? Greenspan Says Gold “Measurably” “Higher” In 5 Years - 30th Oct 14
Apocalypse Now Or Nirvana Next Week? - 30th Oct 14
Understanding Gold's Massive Impact on Fed Maneuvering - 30th Oct 14
Europe: Building a Banking Union - 30th Oct 14
The Colder War: How the Global Energy Trade Slipped From America's Grasp - 30th Oct 14
Don't Get Ruined by These 10 Popular Investment Myths (Part VIII) - 29th Oct 14
Flock of Black Swans Points to Imminent Stock Market Crash - 29th Oct 14
Bank of America's Mortgage Headaches - 29th Oct 14
Risk Management - Why I Run “Ultimate Trailing Stops” on All My Investments - 29th Oct 14
As the Eurozone Economy Stalls, China Cuts the Red Tape - 29th Oct 14
Stock Market Bubble Goes Pop - 29th Oct 14
Gold's Obituary - 29th Oct 14
A Medical Breakthrough Creating Stock Profits - 29th Oct 14
Greenspan: Gold Price Will Rise - 29th Oct 14
The Most Important Stock Market Chart on the Planet - 29th Oct 14
Mysterious Death od CEO Who Went Against the Petrodollar - 29th Oct 14
Hillary Clinton Could Be One of the Best U.S. Presidents Ever - 29th Oct 14
The Worst Advice Wall Street Ever Gave - 29th Oct 14
Bitcoin Price Narrow Range, Might Not Be for Long - 29th Oct 14
UKIP South Yorkshire PCC Election Win is Just Not Going to Happen - 29th Oct 14
Evidence of New U.S. Housing Market Real Estate Bust Starting to Appear - 28th Oct 14
Principle, Rigor and Execution Matter in U.S. Foreign Policy - 28th Oct 14
This Little Piggy Bent The Market - 28th Oct 14
Global Housing Markets - Don’t Buy A Home, You’ll Get Burned! - 28th Oct 14
U.S. Economic Snapshot - Strong Dollar Eating into corporate Profits - 28th Oct 14
Oliver Gross Says Peak Gold Is Here to Stay - 28th Oct 14
The Hedge Fund Rich List Infographic - 28th Oct 14
Does Gold Price Always Respond to Real Interest Rates? - 28th Oct 14
When Will Central Bank Morons Ever Learn? asks Albert Edwards at Societe General - 28th Oct 14
Functional Economics - Getting Your House in Order - 28th Oct 14
Humanity Accelerating to What Exactly? - 27th Oct 14
A Scary Story for Emerging Markets - 27th Oct 14
Could Tesco Go Bust? How to Save Tesco from Debt Bankruptcy Risk - 27th Oct 14
Europe Redefines Bank Stress Tests - 27th Oct 14
Stock Market Intermediate Correction Underway - 27th Oct 14
Why Do Banks Want Our Deposits? Hint: It’s Not to Make Loans - 26th Oct 14
Obamacare Is Not a Revolution, It Is Mere Evolution - 26th Oct 14
Do Tumbling Buybacks Signal Another Stock Market Crash? - 26th Oct 14
Has the FTSE Stock Market Index Put in a Major Top? - 26th Oct 14
Christmas In October – Desperate Measures - 26th Oct 14
Stock Market Primary IV Continues - 26th Oct 14
Gold And Silver Price - Respect The Trend But Prepare For A Reversal - 25th Oct 14
Ebola Has Nothing To Do With The Stock Market - 25th Oct 14
The Gallery of Crowd Behavior: Goodbye Stock Market All Time Highs - 25th Oct 14
Japanese Style Deflation Coming? Where? Fed Falling Behind the Curve? Which Way? - 25th Oct 14
Gold Price Rebounds but Gold Miners Struggle - 25th Oct 14
Stock Market Buy the Dip or Sell the Rally - 25th Oct 14
Get Ready for “Stupid Cheap” Stock Prices - 25th Oct 14
The Trend Every Nation on Earth Is Pouring Money Into - 25th Oct 14 - Keith Fitz-Gerald
Bitcoin Price Decline Stopped, Possibly Temporarily - 25th Oct 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

Stocks Epic Bear Market

After 40 years of Nuclear Passion, It Hurts

Commodities / Nuclear Power Mar 28, 2011 - 08:23 AM GMT

By: OilPrice_Com

Commodities

For 40 years I've written about nuclear power, defended it and believed, as I still do, that it offers the best signpost to a great future; to what Churchill called the "sunlit uplands"; in short, utopia.

I regard electricity as one of mankind's great achievements, saving people from the menial, painful drudgery that marks daily existence without it. Growing up in Africa, I'd see men and women walking miles, many miles, barefoot across the savanna, looking for a few pieces of wood to burn for cooking and hot water.


Electricity, I've believed for these four decades, is assured for thousands of years through nuclear. With advanced breeder reactors and with the energy stored in weapons plutonium, it comes close to perpetual motion: So much energy from so little fuel.

The alternative choice is to burn up the earth, fossil fuel by fossil fuel, until we are searching, like the people of the African savanna, for something that is left to burn.

Wind and solar are defined by their geography and limited by their scattered nature. Their place at the table is assured but not dominant. Industrial societies need large, centralized energy sources.

Yet a nuclear tragedy of almost immeasurable proportions is unfolding in Japan. The sum of all the fears about nuclear is being realized. Hades and Poseidon have joined to cut nuclear down.

Do disasters, like the Japanese nuclear one, really kill technologies? Mostly, obsolescence does that; but their demise can be accelerated by a last huge mishap.

While the Hindenburg disaster at Lakehurst, N.J., in 1937 didn't end lighter-than-air aircraft for passenger travel, it drew the curtains: Fixed-wing airplanes were doing a better job. The Concorde supersonic jet didn't leave the skies because of a fatal accident at Paris-Charles De Gaulle Airport in 2000; but it did make the Concorde's planned retirement immediate.

Conversely, Titanic's sinking in 1912 didn't put an end to ocean liners: They got safer. Throughout the 19th century boilers were constantly blowing up, not the least on the stern-wheelers plying the Mississippi. Boats kept working and the technology -- primarily safety valves -- got better. Bad technologies are replaced by safer ones; and good ones with flaws were improved upon.

That is the history of boats, cars, planes and, yes, resoundingly yes, of nuclear power.

After the Three Mile Island disaster in 1979, a new word, "passive," began to dominate reactor design and construction, but maybe too late for the General Electric Mark1 plants ordered so long ago. Passive, as it sounds, is a design in which cooling pumps are not as important. The idea is to depend more on gravity feeds and convective cooling. These are featured in newer designs, and there has been some back fitting. Things were moving in the right direction, but not fast enough.

The story of the reactors at the Fukushima Daiichi site is a story of success and failure. They were designed 40 years ago to meet what in advanced design is known as a "maximum" credible accident. That was, in that location, an earthquake of a magnitude which had never occurred there. Excluded from this calculation of credible -- i.e. it could happen -- was the tsunami.

That exceeded the imagination of catastrophe to that point in time. Within the credible design envelope, the plants performed flawlessly. They shut down; the emergency cooling pumps started up in fractions of a second; and when they failed, batteries took over. The problem was the tsunami destroyed the diesel generators, and the whole sequence of disaster began.

The opponents of nuclear power -- and they have been pathological in opposition for more than 40 years -- have their footwear on and are ready to dance on the grave of nuclear. They might want to unlace and take a seat: Nuclear power does not have an alternative about to retire it.

Big demand for new energy (ideally carbon-free energy) around the globe, and especially in India and China, can't be satiated without nuclear. Abundance of natural gas in the United States already has reduced the demand for new nuclear to four or five reactors. We'll be okay for a while.

Source: http://oilprice.com/Alternative-Energy/...

By Llewellyn King in Washington DC for OilPrice.com who offer detailed analysis on Crude oil, Natural Gas, Geopolitics, Gold and most other Commodities. They also provide free political and economic intelligence to help investors gain a greater understanding of world events and the impact they have on certain regions and sectors. To find out more visit their website at: http://www.oilprice.com

© 2011 Copyright OilPrice.com- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014