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Economically failing nuclear plant to receive 1.1B bailout (apnews.com)
submitted 2 years ago by to c/climate@slrpnk.net
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"President Joe Biden’s administration on Wednesday finalized approval of $1.1 billion to help keep California’s last operating nuclear power plant running. "

Because renewable energy sources are too expensive?

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[–] [S] -5 points 2 years ago (6 children)

If it's such a good investment, why aren't the power companies making it? Why does the US government have to pour money into their profit-making venture?

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  • [–] 2 points 2 years ago (3 children)

    Because public opinion is against nuclear plants because people think that the current generation of plants have the same safety issues as gen 1 and 2 did.

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  • [–] 0 points 2 years ago

    Thats why they dont make enough money? Weird reason when everyone still needs to buy your product either way..
    Everyone hates war, but munition manufacturer are rubbing their hands because they know you need their stuff anyways.

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  • [–] [S] -5 points 2 years ago (1 child)

    Nuclear supporters always seem to be saying the new systems are different. But the same problems remain. The world needs to realize that nuclear power is a lie made up for short-term profit.

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  • [–] 2 points 2 years ago

    Because their bottom line is profits only, and they can produce the power cheaper with carbon spewing natural gas turbines.

    The good investment is having a massive generator of carbon-free energy, even if it loses money otherwise.

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  • [–] -1 points 2 years ago*

    It's about the term of investment, since these massive projects take decades and most private investment can't afford to think that far in the long term.

    If it was all about profit-making, coal, oil and gas get you way better return on investment than renewables (25% compared to 5-6%), even if in the long term it is harmful (increased healthcare spending treating cancer and environmental damage), and an unsustainable model.

    As for why the US government needs to pay the private sector to do a job it could just do itself? Well that's for Americans to answer, but what I see is a lot of waving hands around nebulous "efficiencies".

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