Skip to main content

U.S. and India Complete Nuclear Technology Pact

From the Washington Post:
Eight years after India startled the United States government by resuming testing of nuclear weapons, Bush and Indian Prime Minister Manmohan Singh signed off on a pact requiring India to separate its civilian and military nuclear programs to gain U.S. expertise and fuel to satisfy its energy rising needs.

Under the deal, the United States offered India nuclear fuel and technology in return for India agreeing to put a wall between its civilian and military nuclear facilities and place its civilian program under international inspections.
More later.

UPDATE: Click here for a transcript of an interview with Indian Prime Minister Manmohan Singh where he discusses the nuclear issue with Charlie Rose of PBS. And click here for more analysis from DNA India. Finally, take some time to read the thoughts of Vivek Reddy in Mumbai.

UPDATE: From the official joint statement issued by the two governments:
FOR ENERGY SECURITY AND A CLEAN ENVIRONMENT

(1) Welcomed the successful completion of discussions on India's separation plan and looked forward to the full implementation of the commitments in the July 18, 2005 Joint Statement on nuclear cooperation. This historic accomplishment will permit our countries to move forward towards our common objective of full civil nuclear energy cooperation between India and the United States and between India and the international community as a whole.

(2) Welcomed the participation of India in the ITER initiative on fusion energy as an important further step towards the common goal of full nuclear energy cooperation.

(3) Agreed on India's participation in FutureGen, an international public-private partnership to develop new, commercially viable technology for a clean coal near-zero emission power project. India will contribute funding to the project and participate in the Government Steering Committee of this initiative.

(4) Welcomed the creation of the Asia Pacific Partnership on Clean Development and Climate, which will enable India and the U.S. to work together with other countries in the region to pursue sustainable development and meet increased energy needs while addressing concerns of energy security and climate change. The Partnership will collaborate to promote the development, diffusion, deployment and transfer of cleaner, cost-effective and more efficient technologies and practices.

(5) Welcomed India's interest in the Integrated Ocean Drilling Program, an international marine research endeavor that will contribute to long-term energy solutions such as gas hydrates.

(6) Noting the positive cooperation under the Indo-U.S. Energy Dialogue, highlighted plans to hold joint conferences on topics such as energy efficiency and natural gas, to conduct study missions on renewable energy, to establish a clearing house in India for coal-bed methane/coal-mine methane, and to exchange energy market information.
Click here for a transcript of a New Dehli press briefing with Under Secretary of State for Political Affairs, Nick Burns. And there are some important details in the transcript of a press briefing by National Security Advisor Steve Hadley.

UPDATE: French President Jacques Chirac praises the agreement. Meanwhile, Pakistan has signaled that it would like to complete a similar agreement with the U.S. However, U.S. Secretary of State Condoleezza Rice says the timing isn't right.

UPDATE: Econopundit likes the deal:
[T]he potentially-next-huge-leading-sector that pushes us into the next ten year economic boom is nuclear energy -- especially a nuclear energy itself energized by globalization of trade and information. This new deal appears to recognize that vision.
FINAL UPDATE: The Cranky Liberal likes the deal too.

Technorati tags: , , , , , , ,

Comments

Popular posts from this blog

Activists' Claims Distort Facts about Advanced Reactor Design

Below is from our rapid response team . Yesterday, regional anti-nuclear organizations asked federal nuclear energy regulators to launch an investigation into what it claims are “newly identified flaws” in Westinghouse’s advanced reactor design, the AP1000. During a teleconference releasing a report on the subject, participants urged the Nuclear Regulatory Commission to suspend license reviews of proposed AP1000 reactors. In its news release, even the groups making these allegations provide conflicting information on its findings. In one instance, the groups cite “dozens of corrosion holes” at reactor vessels and in another says that eight holes have been documented. In all cases, there is another containment mechanism that would provide a barrier to radiation release. Below, we examine why these claims are unwarranted and why the AP1000 design certification process should continue as designated by the NRC. Myth: In the AP1000 reactor design, the gap between the shield bu...

Wednesday Update

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...

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

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...