Energy

Japan Warned on US Nuclear Investments

Wednesday, August 11, 2010

Tokyo -- Kevin Kamps, an American nuclear expert who is currently visiting Tokyo, sent a letter to the Japanese government today warning them about the risks of investments in the US nuclear industry, contending that "the long-awaited US nuclear renaissance might not materialize" and that the risks of such investments are higher than is generally recognized.

The letter was endorsed by 71 American NGOs as well as a number of groups inside Japan.

Kamps contends that financial and regulatory issues in the United States make it highly doubtful that there is about to be a boom in nuclear power plant construction in that country, and in fact that the US Congressional Budget Office has itself predicted that over half of new reactor projects will default on their loans.

When contacted by PanOrient News, Mr. Kamps explained that this warning was aimed at the Japanese government in particular because Japanese companies provide most of the reactor designs for the planned facilities, with only the French company Areva as a rival.

"The cost of building reactors in the United States has skyrocketed and the financial risks are high," Kamps told PanOrient News.

His press statement went on note, "It is dangerous to view nuclear projects in the United States as less risky than in developing countries. If you want to invest, it would be wiser to invest in highly competitive renewable energy and energy efficiency projects."


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