I think there is definitely some grounds for concern. If you buy the idea that corporations are only in business to make money and have no other responsibilities, the idea that they might skimp on protections becomes very viable.

Nuclear plants are indemnified by the federal government if they cause more than a certain amount of damage. Off the top of my head, I believe that amount is fifty million dollars. That’s not a lot of incentive to protect the public. For many corporations, fifty million dollars is small change.

TEPCO, the Japanese utility that runs the nuclear plants that have melted down would have loved to have a deal like the American government gives out to our nuclear utilities.

It should be obvious that indemnification destroys a lot of corporate rationale for safety. If the money damages aren’t that big a deal, why not cut corners?

James Pilant

As record floodwaters along the Missouri River drench homes and businesses, concerns have grown about keeping a couple of notable structures dry: two riverside nuclear power plants in Nebraska. Though the plants have declared “unusual events,” the lowest level in the emergency taxonomy used by federal nuclear regulators, both were designed to withstand this level of flooding, and neither is viewed as being at risk for a disaster, said a spokesman … Read More

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