The most compelling argument for closing Pilgrim Nuclear Power Plant for those off us nearby and downwind is that it should never have been built there in the first place with “no escape from the Cape” (and none imaginable). Although the worst case scenario is unlikely, the consequences are so devastating and terminal, it seems crazy to take the risk. It’s an unnecessary cloud over our lives. As all our towns and legislatures have said loud and clear for some time now.
For the shrinking minority who hang on to the idea that nuclear power is a climate change savior and hence the only way forward energy-wise, the following should be of interest: a compelling overview of the present and future of nuclear power worldwide from Jeremy Rifkin, bestselling author of 20 books on the impact of scientific and technological changes on the economy, the workforce, society, and the environment. (This is a summary of Rifkin’s remarks at a seminar at Wermuth Asset Management.)
> Nuclear Power is Dead. From a business perspective, it’s over. It’s been dead in the water since 3 Mile Island and Chernobyl.
> The big claim for nukes is climate change, but in fact nuclear power produces only 6% of world power, and climate people say it would have to be 20% to have any substantial effect. That would mean 1600 new plants, and replace 400 existing. That would be 3 new plants every month for 40 years to get to 20%, and by then climate change would have run its course.
> We have no way to deal with the waste.
> Uranium is getting more scarce and 2025 to 2035 will see big shortages and thus high prices which won’t help nuke’s market competitiveness.
> We don’t have the water. In France 40% of all the fresh water in the country is needed just to cool the reactors, and that water comes out hot which further exacerbates ecological problems.
Thus from every point of view, Pilgrim in its 43rd year is an antique—an idea whose time has come (with too much fanfare and not enough foresight) and gone, an increasingly bad looking investment metaphorically and otherwise.
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