Monday, July 29, 2019

Another Bailout for the Defunct Nuclear Power Industry

Ohio Repugnants, who control the state government, refused to bailout the state's troubled nuclear power industry for years.  Faced with a political boycott, First Energy, the owner of two plants on the verge of bankruptcy, asked, what to do?  Answer: why of course, flood the political field with alternative Repugnants willing to dole out subsidies to defeat key legislators opposed to help a dying industry.  The company's bankruptcy filings revealed how a bankrupt company spent $30 million during 2018-19 on lobbying campaigns in Ohio and Pennsylvania, where it owns another busted nuclear plant.

First Energy used stealth tactics to cover their tracks using fronts like Conservative Leadership Alliance and Ohio Clean Energy Jobs Alliance.  Thank you, Citizens United.  Anyone who attempts to argue that nuclear energy is "clean" knows nothing about radioactive waste streams in this country.   company got a $1.1 billion in government subsidy for its $30 million political investment.  Another industry front, Generation Now, spent $2 million on TV adds in favor of subsidizing the industry. Of course subsidizing nuclear power is contrary to what Ohio residents want, but that is why the company paid for the legislators who passed it.  Five cash-strapped states across the country have foisted more than $15 billion in subsidies on failing nuclear power plants since 2016; if there is any more effective testimony about the ability of nuclear power to compete against natural gas and truly clean alternative, US Person does not know about it.

In Ohio, the battle between incumbent House Speaker, Ryan Smith and corporate-owned Larry Householder was fought in 18 competitive primary districts.  Household sponsored a bailout bill in the 2018 legislature that was tabled. Thanks to the infusion of dark money, Householder won 15 of the 18 contested districts.  In addition to the indirect funding, First Energy directly contributed $150,000 to Householder and aligned candidates.  His primary win put him in position to occupy the Speaker's chair, and presumably further aid his masters.  In January Householder delivered by pushing through HB6 over opposition from Repugnants and Democrats.  First Energy rewarded him with a free charter trip to Il Douche's inauguration.  When asked if dark money was responsible for Ohio throwing money at a dying industry, Ohio Senator Sherrod Brown (D) said, “I mean, these things happen because these moneyed interests control the state legislature. There’s no question about it.”  An industry expert thinks that for nuclear power to be a viable solution to climate warming construction on one thousand plants worldwide would have to begin construction this year--absurd.

Compared to what happened in South Carolina, the Ohio bailout is a bargain. The cost of a failed nuke there cost $9 billion.  After the corporate restructurings were over, taxpayers got stuck with a $2.3 billion bill.  The South Carolina plant has not produced a single kilowatt of power, and is in fact little more than a hole in the ground.  What amazes US Person, who litigated against an industry that claimed its power was "too cheap to meter", is that after such a dismal performance record and wildly escalating costs over sixty years, some still believe nuclear power to be an answer to the climate crisis. NOT. Just ask the taxpayers of Ohio, South Carolina, New York, Illinois and New Jersey.