{"id":8085,"date":"2018-06-08T10:11:28","date_gmt":"2018-06-08T09:11:28","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=8085"},"modified":"2018-06-08T10:11:28","modified_gmt":"2018-06-08T09:11:28","slug":"one-thing-learnt-week-act-nuclear-folly","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=8085","title":{"rendered":"One thing we have learnt this week – an act of nuclear folly"},"content":{"rendered":"

\"\"<\/a>In an act of nuclear folly the UK government has indicated that they will take a stake in the Horizon reactor project on the Isle of Anglesey.\u00a0 There have been rumours of this in the press for a while.\u00a0 Its currently slightly unclear as to whether this is a real material change over Hinkley C where the government has given a loan guarantee.<\/p>\n

If it is though it marks a real significant change.\u00a0 Governments worldwide with the possible exception of China have retreated from funding nuclear.\u00a0 Its rightly regarded as a financial dustbin in which money is poured as if it was a bottomless pit.\u00a0 There are a number of fundamental reasons why the government should not have anything to do with it.\u00a0 Nuclear construction costs always go over budget and renewables are now cheaper.\u00a0 Even if we need a lot more capacity (which we will) renewables will\u00a0always be cheaper.\u00a0 It also has worrying implications for Hinkley C.\u00a0 When things go wrong (which people say they already have) will they ask for the government for cash?<\/p>\n

Of course governments do still subsidise nuclear power.\u00a0 They underwrite the insurance and pay the waste disposal (to which there is still no guaranteed solution), but to stump up the cash is a guaranteed way to waste more taxpayers money.\u00a0 This act of nuclear folly in in my view has more to do with maintaining Britain’s independent nuclear deterrent than energy security or action on climate change.\u00a0 Nevertheless if the government wants construction to go ahead then it will have to provide the cash with all the risks that involves.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

In an act of nuclear folly the UK government has indicated that they will take a stake in the Horizon reactor project on the Isle of Anglesey.\u00a0 There have been rumours of this in the press for a while.\u00a0 Its … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[25,17,4],"tags":[49],"class_list":["post-8085","post","type-post","status-publish","format-standard","hentry","category-nuclear","category-one-thing-we-have-learnt-this-week","category-renewables","tag-nuclear-power"],"yoast_head":"\nOne thing we have learnt this week - an act of nuclear folly - The oil lamp - shining God's light on peak oil<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theoillamp.co.uk\/?p=8085\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.theoillamp.co.uk\/?p=8085\",\"url\":\"https:\/\/www.theoillamp.co.uk\/?p=8085\",\"name\":\"One thing we have learnt this week - 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