216.164.138.57 (talk) clarifications |
Benjamin Gatti (talk | contribs) Communistic |
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The '''Price-Anderson Act''', enacted in [[1957]] as Section 170 of the [[Atomic Energy Act]], makes available a large pool of funds (as of [[2004]], approximately 9.5 billion dollars) to provide prompt compensation to members of the public who incur damages from a [[nuclear accident|nuclear]] or radiological incident, no matter who might be liable. <nowiki>[</nowiki>This number was dwarfed by the [[Chernobyl accident]] which one source |
The '''Price-Anderson Act''', enacted in [[1957]] as Section 170 of the [[Atomic Energy Act]], makes available a large pool of funds (as of [[2004]], approximately 9.5 billion dollars) to provide prompt compensation to members of the public who incur damages from a [[nuclear accident|nuclear]] or radiological incident, no matter who might be liable. <nowiki>[</nowiki>This number was dwarfed by the financial impact of the [[Chernobyl accident|Chernobyl incident]] which was estimated by one source to be more than 280 billion dollars without considering medical effects, immediate deaths and early resulting deaths. - however, the Chernobyl units were [[RBMK]]s unlike any American plant, and the Chernobyl units did not have containment buildings around the reactors. Damage in the case of Chernobyl was limited due to the sparse population, a similar accident in a populated area could have an estimated insurable loss of about 10 trillion dollars. [http://www10.antenna.nl/wise/index.html?http://www10.antenna.nl/wise/411/4067.html]<nowiki>]</nowiki> |
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Power reactor licensees are required to have primary insurance ($200 million dollars each as of [[2001]]) and to contribute up to $88 million each in the event of an incident. Thus, the 9.5 billion dollars is supplied completely by the nuclear industry. 10 CFR Part 140 codifies the above. |
Power reactor licensees are required to have primary insurance ($200 million dollars each as of [[2001]]) and to contribute up to $88 million each in the event of an incident. Thus, the 9.5 billion dollars is supplied completely by the nuclear industry. 10 CFR Part 140 codifies the above. In the event that claims exceed the pool of funds, Congress is required to consider passing the excess cost onto taxpayers - including those who own windmills and generate their own safe clean renewable and responsible energy. |
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If such a scheme were applied to vehicle insurance, car owners would be required to insure themselves for a token $1 with Congress forcing taxpayers, including those who ride bicycles, to foot the bill for any accidents. |
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Without the Price-Anderson Act, nuclear plant operators would have to insure for the full cost of any possible nuclear incident. Because (before Chernobyl) no one could quantify what the maximum coverage necessary would be, financiers were unwilling to insure against the possible risk. Therefore, no private operator in the United States would have built a nuclear facility without the Price-Anderson Act. |
Without the Price-Anderson Act, nuclear plant operators would have to insure for the full cost of any possible nuclear incident. Because (before Chernobyl) no one could quantify what the maximum coverage necessary would be, financiers were unwilling to insure against the possible risk. Therefore, no private operator in the United States would have built a nuclear facility without the Price-Anderson Act. And since the risks have now been quantified by Chernobyl, no insurer would be capable or willing to cover future plants - thus the extension of the Price Anderson Subsidy is essential to any future nuclear power plants. |
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Price-Anderson also covers [[DOE]] facilities but not the [[nuclear Navy]] (which has not had a nuclear accident). |
Price-Anderson also covers [[DOE]] facilities but not the [[nuclear Navy]] (which has not had a nuclear accident). |
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Nuclear insurance pools have paid $151 million and the DOE $65 million since Price-Anderson was enacted. |
Nuclear insurance pools have paid $151 million and the DOE $65 million since Price-Anderson was enacted. |
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It should be noted that publicly owned risk pools are a tenant of [[communism]] and wholly inconsistent with the principles of [[Capitalism]] in which private parties take responsability for risks in exchange for rewards. As a consequence, all nuclear programs are communistic by definition in every country including the United States. |
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Revision as of 14:40, 23 June 2005
The Price-Anderson Act, enacted in 1957 as Section 170 of the Atomic Energy Act, makes available a large pool of funds (as of 2004, approximately 9.5 billion dollars) to provide prompt compensation to members of the public who incur damages from a nuclear or radiological incident, no matter who might be liable. [This number was dwarfed by the financial impact of the Chernobyl incident which was estimated by one source to be more than 280 billion dollars without considering medical effects, immediate deaths and early resulting deaths. - however, the Chernobyl units were RBMKs unlike any American plant, and the Chernobyl units did not have containment buildings around the reactors. Damage in the case of Chernobyl was limited due to the sparse population, a similar accident in a populated area could have an estimated insurable loss of about 10 trillion dollars. [1]]
Power reactor licensees are required to have primary insurance ($200 million dollars each as of 2001) and to contribute up to $88 million each in the event of an incident. Thus, the 9.5 billion dollars is supplied completely by the nuclear industry. 10 CFR Part 140 codifies the above. In the event that claims exceed the pool of funds, Congress is required to consider passing the excess cost onto taxpayers - including those who own windmills and generate their own safe clean renewable and responsible energy.
If such a scheme were applied to vehicle insurance, car owners would be required to insure themselves for a token $1 with Congress forcing taxpayers, including those who ride bicycles, to foot the bill for any accidents.
Without the Price-Anderson Act, nuclear plant operators would have to insure for the full cost of any possible nuclear incident. Because (before Chernobyl) no one could quantify what the maximum coverage necessary would be, financiers were unwilling to insure against the possible risk. Therefore, no private operator in the United States would have built a nuclear facility without the Price-Anderson Act. And since the risks have now been quantified by Chernobyl, no insurer would be capable or willing to cover future plants - thus the extension of the Price Anderson Subsidy is essential to any future nuclear power plants.
Price-Anderson also covers DOE facilities but not the nuclear Navy (which has not had a nuclear accident).
Nuclear insurance pools have paid $151 million and the DOE $65 million since Price-Anderson was enacted.
It should be noted that publicly owned risk pools are a tenant of communism and wholly inconsistent with the principles of Capitalism in which private parties take responsability for risks in exchange for rewards. As a consequence, all nuclear programs are communistic by definition in every country including the United States.
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