Skip to main content

Senator John Corzine and environmentalists

By Anonymous
The New Jersey-based blog Dirty New Jersey links to a story in Newsday that discusses the upcoming New Jersey governor's race and how a few decisions by Sen. John Corzine have left the presumed Democratic nominee looking for ways to woo back one of his bases of support - environmentalists.
Among the issues raised by environmentalists, Corzine supports extending the license of one of the country's oldest nuclear power plants, Oyster Creek, and he has endorsed construction of an enormous entertainment complex in the Meadowlands, the sprawling wetland across the Hudson River from New York City. The state's three biggest environmental groups are suing to stop the Meadowlands project.
While I understand there are many issues that have caused this erosion of support among the environmental community, one must take issue with the contention that the re-licensing of Oyster Creek is bad for the environment. A study conducted by Polestar Applied Technology and released last month by the Nuclear Energy Institute demonstrates that nuclear energy must remain a leading source of electricity in the Northeastern United States for decades to come if efforts under the Regional Greenhouse Gas Initiative (RGGI) to reduce CO2 emissions in the electricity sector are to prove successful without major upheaval for industry and consumers.

Non-emitting nuclear energy produces 31.6 percent of the Northeast's electricity, making it the single-largest electricity source in the region. The prominence of nuclear power plants means that Northeastern states already enjoy some of the lowest carbon dioxide emission rates in the country.

Note to the NJ environmental community: Without Oyster Creek, the CO2 problem is only going to get worse.


Technorati tags: , , , , ,

Comments

Post a Comment

Popular posts from this blog

Fluor Invests in NuScale

By
You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...
1 comment
Read more

Wednesday Update

By
From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...
Post a Comment
Read more

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

By
Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...
Post a Comment
Read more