Skip to main content

Dueling Editorials: The USA-India Agreement

deliv01 The New York Times and the Washington Post have both put up editorials on the pending agreement to allow the India and the United States to share nuclear technologies. The Times doesn't like it:

The nuclear agreement was a bad idea from the start. Mr. Bush and his team were so eager for a foreign policy success that they gave away the store. They extracted no promise from India to stop producing bomb-making material. No promise not to expand its arsenal. And no promise not to resume nuclear testing.

The Post is all in:

For all its flaws, the agreement would create more international supervision of India's nuclear fuel cycle than there would be without it. If Congress backs out now, the only victims will be American nuclear suppliers, who would have to stand aside while French and Russian companies expand India's nuclear power system.

Although we agree more with the Post, we find its arguments a rather weakish tea. American nuclear suppliers can take care of themselves without this deal, and, as we've seen over numerous posts, the U.S. has been all over the globe making partnerships with various European and Asian countries. France and Russia will be in India competing even if the treaty passes, so there's no guarantee America would see tremendous amounts of business (although we actually think it would.)

But the Times, even with stronger arguments, approaches this with an ideological purity that ignores the nature of the players in this deal - this isn't, say, a Russia-Iran hair raiser - and the practical effects of the treaty, which are fairly benign. We grant that the elements the U.S. is skirting here are important, but have to agree with the Post that a rigid adherence to rules intended to rein in rogue nations shouldn't trip up this deal.

Chances are good for this one. Sens. McCain and Obama are both in support and House Speaker Pelosi wants to move it along and will waive a rule that would have hurt its chances. There's very little downside politically.

Now, the Russia-US nuclear deal, on the other hand - whoof!

Billy Redden in Deliverance. Dueling Banjos, of course, was the moment where the city men found a way to bond with the mountain men, followed of course by misunderstanding, murder and various horrific events. A unique novel and film about the masculine imperative gone mad. Redden was a high-school boy from the Georgia area where Deliverance was filmed; he reappeared briefly in Big Fish (2003) - playing the banjo.

Comments

Popular posts from this blog

Fluor Invests in NuScale

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...

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...