The Corner

Is Nuclear Power Really Too Expensive?

One of the ways you can tell when Democrats are out of even remotely plausible arguments is that they turn to cost. They never give a damn what anything costs, until they’ve run out of reasons to hate whatever it is they hate for whatever reason: military projects, school-choice programs, etc. 

You’ll recall congressional Democrats raising an unholy fuss over the fact that the Benghazi investigation cost a little over $4 million; the federal government currently spends about $7 million a minute, 24/7/365. You could fund a dozen Benghazi investigations with whatever the government spends in the time it takes Hillary Rodham Clinton to find her glasses on the nightstand at 4 a.m.

No surprise then to find our friends at ThinkProgress (h/t Heather Boulware) arguing that nuclear power, the cleanest form of reliable electricity generation currently known to man, is just “too expensive” to play a role in reducing carbon-dioxide emissions in the campaign against global warming. About that: The International Energy Agency forecasts the price of switching to low-carbon energy sources at $44 trillion over the next 35 years or so. You could build a lot of nuclear plants for $44 trillion. 

How many? ThinkProgress cites a study that nuclear “decarbonization” would require building about 115 new nuclear plants a year between now and 2050. If we take the IEA’s $44 trillion and divide it by the total number of new plants in that scenario, that’s about $11 billion per new nuclear plant, which is a bit more than they average now. (Never mind, for the moment, that the cost of building a new nuclear plant is a relatively small part of the cost of building a new nuclear plant, regulatory payoffs and the like representing an enormous share of the expense.) Looks like a few billion left over for spillage, to me.

I don’t know whether nuclear power is the right solution to our future power needs; I am generally suspicious of the notion that there is a single “right” solution, and deeply suspicious of the notion that politicians and activists are well-positioned to discern it should it exist. But we are constantly being told that there is no price too high to pay to prevent global warming . . . except whatever it costs to build nuclear plants that progressives hate for reasons that have nothing to do with cost.

Kevin D. Williamson is a former fellow at National Review Institute and a former roving correspondent for National Review.
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