Monday, January 22, 2007

Deutsche Bank Report: “Shutting down nuclear is inconceivable as a serious policy.”

From the Financial Times:

Germany’s plan to phase out nuclear energy will make it miss its CO2 emission targets, raise electricity prices, cause more blackouts and "dramatically" increase Berlin’s dependence on imported Russian gas, an independent study has warned.

The 60-page paper by Deutsche Bank is a serious indictment of chancellor Angela Merkel’s decision, despite personal misgivings, to stick to the phase-out deal agreed by the previous government in 2000.

[...]

The paper also highlights the quandary facing the chancellor, who would have to choose between the three key goals of Germany’s energy policy – to reduce emissions, to cut reliance on Russian fossil fuel, and to keep energy prices in check.

“Shutting down nuclear is inconceivable as a serious policy,” Mark Lewis, energy analyst and author of the report, said. “It will mean missing your carbon emission targets and lead to gas-powered plants replacing today’s nuclear plants.”
Gotta love the "stunning indictment" language -- as if Merkel is in a position to fracture her coalition government with her socialist partners over the issue. Instead, what the FT story fails to recognize is how Merkel seems to be engaging in a perfect "rope-a-dope" strategy, letting her enemies exhaust themselves as the economic and environmental evidence supporting the nuclear case continues to pile up.

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