{"id":19052,"date":"2016-03-21T12:24:23","date_gmt":"2016-03-21T17:24:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19052"},"modified":"2016-03-21T12:24:23","modified_gmt":"2016-03-21T17:24:23","slug":"politicians-push-nuclear-poison-pill","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19052","title":{"rendered":"Politicians push nuclear \u2018poison pill\u2019"},"content":{"rendered":"

Politicians push nuclear \u2018poison pill\u2019<\/a><\/h3>\n

\"CROP--Flamanville\"<\/a><\/h3>\n
\n
\n

Construction of a new nuclear reactor in Flamanville, France, is already six years behind schedule.\u00a0Image:\u00a0schoella<\/a>\u00a0via Wikimedia Commons<\/em><\/p>\n<\/div>\n<\/div>\n

\n
The economics of nuclear power in Europe are in meltdown, leaving taxpayers facing a heavy burden as the industry clings to pledges of huge public cash injections.<\/strong><\/div>\n

LONDON, 21 March, 2016<\/em>\u00a0\u2013 The deeply troubled European nuclear industry, dominated by the huge\u00a0French state-owned company EDF<\/a>, home is now surviving only because of massive public subsidies from the French, British and Chinese governments.<\/p>\n

The depth of the financial problems that EDF is facing was underlined last week by the\u00a0resignation of its finance director<\/a>, Thomas Piquemal.<\/p>\n

He believes that building the world\u2019s most expensive nuclear power plant \u2013 at\u00a0Hinkley Point<\/a>\u00a0in southwest England \u2013 could threaten the viability of the group, whose finances are already stretched to breaking point, and so he decided he would leave.<\/p>\n

Within days, both the UK prime minister, David Cameron, and the French president, Fran\u00e7ois Hollande,\u00a0pledged to support the building of the \u00a318 billion plant<\/a>, despite the fact that the economies of the project look disastrous.<\/p>\n

Massive injection<\/strong><\/p>\n

They did so in response to a letter from EDF chief executive Jean-Bernard Levy, which said the project could not go ahead without a massive injection of new capital by the French government.<\/p>\n

Immediately, Emmanuel Macron, the French economy minister, made it clear that EDF would be bailed out. He dismissed concerns in both countries about the high cost of the project and signalled the\u00a0French government\u2019s willingness to prop up EDF<\/a>\u00a0to enable it to complete the job, whatever it took.<\/p>\n

\u201cIf we need to recapitalise, we will do it,\u201d he said. \u201cIf we need to renounce dividend payments again, we will do it.\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Politicians push nuclear \u2018poison pill\u2019 Construction of a new nuclear reactor in Flamanville, France, is already six years behind schedule.\u00a0Image:\u00a0schoella\u00a0via Wikimedia Commons The economics of nuclear power in Europe are in meltdown, leaving taxpayers facing a heavy burden as the industry clings to pledges of huge public cash injections. LONDON, 21 March, 2016\u00a0\u2013 The deeply […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[9245,7435,281,578,3188,11911,783],"class_list":["post-19052","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-climate-news-network","tag-edf","tag-europe","tag-nuclear-energy","tag-nuclear-reactor","tag-paul-brown","tag-taxes"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19052"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19052\/revisions"}],"predecessor-version":[{"id":19053,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19052\/revisions\/19053"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}