Irrational economics


I was impressed by this short piece on HuffPo today.

Former White House policy analyst, Jeff Schweitzer, speaks the truth about the irrational costs of nuclear energy, and highlights our propensity to underestimate high-consequnce, low-pobability failures like Fukushima.

To wit:

“… nuclear energy is not viable and never will be; low probability high consequence risk. While bad events are rare, when they happen, the political, economic and human costs are much too high for society to absorb, even amortized over long periods of stability. And this does not include the problem of disposing of nuclear waste or the life cycle costs of decommissioning a spent plant. Nuclear energy sounds good, but only if most of the true costs are externalized. Trapping the true cost of nuclear energy in the price of electricity would render the industry useless.”

“Unfortunately, the industry survives because we fail to evaluate properly low-probably high-consequence events. Nuclear power is with us only because we have inherent flaws in our ability to evaluate risk. That inherent imperfection is blinding us to the simple reality that nuclear power is dead; we just don’t see it yet.”

File this under “Couldn’t have said it better myself.”

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