Net Zero Gain of Nuclear Energy
Posted on September 2, 2016
A back-of the-envelope guess is that the historic and cumulative net social value produced by the nuclear industry is distinctly negative. In other words, investing in nukes made the world economically far worse off than staying with conventional energy.
For example: nukes of the world now produce around 2.5X10**12 kilowatt hours per year. At an overinflated $.10 per kilowatt hour that would be around $200B per year in gross value. Cleanup and damage for the Fukushima event alone is on its way toward $1T. That would wipe out five years of output value. Subtracting off a proportionate share of construction and operation and disposal costs would move the social net benefits of the industry toward a negative trillion per the last half decade. And don’t forget the far more expensive Chernobyl event. Also don’t forget the unreimbursed cost of original R&D paid by the U.S. government. Also don’t forget the negative option value of having those immense risks hanging over our heads.
And please try to keep a straight face if you want to talk about environmental benefits.
But hey, the engineers promise (for the fourth time) that it won’t happen again.