The nuclear industry faces an uncertain future as the reactor building boom is struck by unexpected costs, serious technical problems, and long, expensive delays, writes Paul Brown. Meanwhile renewables like wind and solar are offering investors an enviable combination of falling cost, low risk, fast build times, predictable returns and minimal long term liabilities.
Ecological Economist FEDERICO DEMARIA was the youngest panellist at a recent House of Commons debate on ‘Degrowth' as a movement gaining traction and now entering the corridors of power. Here's his report on the challenges and tasks ahead
A legacy of lies and covered-up accidents has left nuclear energy with a serious credibility gap, writes Paul Brown. But poor safety is only the beginning of the industry's problems. With 'new improved' reactor designs all running late and way over budget, any nuclear revival can only be sustained at massive, unaffordable taxpayer cost.
As the new year begins, the global clean energy transition is progressing much faster than most people realise, and is probably irreversible, writes Jeremy Leggett. President-elect Trump's prospects of revitalising the US coal industry, and giving the oil and gas industry the expansionist dream ticket it wants, are very low.
What kind of companies is the European Central Bank supporting by buying €46 billion of their bonds under its QE programme? Research by Corporate Europe Observatory reveals a strong preference for oil, gas, tar sands, dirty power generation, armaments, aviation, airports, car makers, motorways, luxury goods and gambling. Our sustainable be future be damned!
While the government is cutting vital public expenditure across the board there's one industry for which no costs are too great, writes Martin Forwood. The price of an 'evaporator' at the Sellafield nuclear complex is escalating towards £1 billion, while billions more of taxpayer finance are being lined up to finance cooling systems, power lines and transport links for the adjacent Moorside new-build nuclear power plant.
Nuclear giant EDF could be heading towards bankruptcy, writes Paul Brown, as it faces a perfect storm of under-estimated costs for decommissioning, waste disposal and Hinkley C. Meanwhile income from power sales is lagging behind costs, and 17 of its reactors are off-line for safety tests. Yet French and UK governments are turning a blind eye to the looming financial crisis.
The world's poorest and most vulnerable countries are doing their bit to promote the expansion of renewable energy. The least we can do in the developed world is to ensure the money in our bank account helps rather than hinders their efforts, writes JOE WARE
Next April the UK government proposes to increase taxes on self-consumed solar electricity installations on schools, offices, warehouses and factories by a whopping 6-8 times, write the STA and undersigned. This inexplicable move, which threatens a once thriving solar industry already on its knees, must be abandoned.
After two decades of neoliberalism, India's magnates and corporations are profiting as never before, writes Colin Todhunter. But the entire economic edifice is built on the dispossession of the poor, locked into debt servitude, and ever rising income inequality. Prime Minister Modi's latest move, 'demonetization', is yet another example of the state stealing from the poor to give to the obscenely rich.
With Trump denying climate change and threatening to reject the Paris Agreement, it's more important than ever for society to hold a firm ethical line, writes Chris Garrard. The last thing we need is our most revered museums and galleries muddying the water by courting the sponsorship of leading climate criminals.
Conventional economic analyses of trade tend only to discern the flows of money, writes NICK MEYNEN. But by also considering biophysical metrics - such as material and energy flows, and embodied water and land - ecological economists can identify the asymmetric flows of resources obscured by the apparent reciprocity of market prices.
Both Trump and Brexit can be explained by the failure of mainstream political elites to address the pain inflicted on ordinary citizens in the neoliberal era, write Helena Norberg-Hodge & Rupert Read. In the US and the UK, working class voters rightly rejected the corporate globalisation that has created so much poverty and insecurity. But the real solutions lie not in hatred, but relocalisation.
The 'Global Redesign Initiative', a project of the World Economic Forum, aims to replace UN-based intergovernmental decision-making with unaccountable 'multi-stakeholder governance' run by and for corporations, writes Margi Prideaux. What future for nature and people in this brave new world? Generate profits for investors, or face extinction or exclusion to the margins of existence.
