From Bloomberg –
General Electric Co. (GE)’s goal of broadening its $1 billion nuclear service-and-parts business with sales of new reactors risks stalling as world leaders reconsider the future of atomic energy.
Governments from Germany, which halted 25 percent of its nuclear-generated electricity, to India, with $175 billion in planned spending by 2030, are reassessing the technology after Japan’s March 11 earthquake and tsunami crippled a power plant and raised the threat of a meltdown.
Political doubts after the Japan disaster may signal dwindling appetite for new plants, and the reactors that Chief Executive Officer Jeffrey Immelt has said he wants to pursue. Three reactors at the Fukushima Dai-Ichi plant use a GE design, including the damaged No. 1 unit that began operating in 1971.
“We want to look at, just like the whole industry, the details of what happened here,” GE Power & Water CEO Steve Bolze said yesterday in an interview. “There is going to be a lot of discussion, and we’re part of that process.”
While the President and Congress are taking a “Damn the Torpedoes” approach and reaffirming their commitment to nuclear power, the business world is having some doubts. I expect the doubts to get worse in the next few days.
I should make note of the pro nuclear vitriol being unleashed in the last few days against those who would “exploit” the crisis. Further, I have seen a good number of times the idea that this is a good development for the American nuclear industry. This is a good example of corporate and political PR techniques gaining wide usage. You attack the enemy’s strongest point. The reality is simple and it will not change no matter how much is written and how much contempt for opponents of nuclear power is expressed, these events call into question the very idea of producing power through nuclear energy.
How that debate works out will depend heavily on the events of the next few days.
James Pilant








You must be logged in to post a comment.