Tag Archives: boondoggle

Solar price drops setting invisible price limit for ever-dirtier fossil fuel extraction

A fairly insightful piece on the how oil price rises drive more fossil fuel production, currently fueled by debt because wages of most workers have been falling, still misses two big points: solar prices continually plumetting now undercut all fossil fuel prices, and dirtier fossil fuel extraction and its massive colonial invasion of pipelines are meeting resistance everywhere, including at the regulatory-captured puppet agencies like FERC.

“Tyler Durden”, ZeroHedge, 13 May 2016, Submitted by Gail Tverberg via Our Finite World blog, The Real Oil Limits Story – What Other Researchers Missed, Continue reading

County and landowners still paying for failed 2007 James Road mega-mall boondoggle @ LCC 2015-06-22

Back again: the James Road subsidy for a failed mega-mall that we just keep on paying, eight years later!

Five companies showed up at the May 27th pre-bid meeting, but only one bid for $71,192 was received from Rountree Construction for the Commercial Driveway for Raceway on James Road, said County Engineer Mike Fletcher at the 22 June 2015 Lowndes County Work Session. The Commission at their 23 June 2015 Regular Session approved that yet another fix-up payment caused by the county’s 2009 widening of James Road “from a two-lane local road with ditches to a five-lane road with curb and gutter” for the never-happened Market Street mall and subdivision project. And local elected officials say bus systems need subsidies? Every road and bridge is a subsidy for private developers. And James Road is a subsidy we just keep on paying year after year.

The county spent SPLOST VI funds and $587,000 in GDOT funds on this subsidy for private developers, some of them from Tampa, while requiring local James Road property owners to Continue reading

Southern Company missed earnings: weather and Kemper Coal and nuclear Plant Vogtle

SO CEO Tom Fanning continued to blame slow sales and earnings on mild weather (air conditioners running less), but the big boondoggle going bad is Kemper Coal, which has slipped six months from May 2014 to Q4 2014, and even the Wall Street Journal calls it “possibly the most expensive fossil-fuel power plant ever built in the U.S”. How bad will SO’s stock tank when SO’s even more expensive nuclear Plant Vogtle slips even more? Dividends can’t prop up SO’s share price forever, not when PSCs are revolting against the rate hikes and guaranteed profit hikes that prop up those dividends. When will Southern Company and Georgia Power get out front and lead in solar and wind power? Before or after the public, state public service commissions, and investors make them do it?

Justin Loiseau wrote for DailyFinance 4 November 2013, Southern Company Earnings: A $5 Billion Blunder? Continue reading

Nukes have always been a government sponsored boondogle as cover for nuclear weapons production –John Pate

From Eisenhower’s Atoms for Peace and Matsutaro Shoriki founding the Japanese nuclear industry to Shinzo Abe’s international nuclear salesmanship, nuclear power has always been a whitewash for nuclear weapons, with “peaceful” nukes a boondoggle for big corps subsidized by taxpayers and ratepayers. Yet the sun is rising around the world, on Japan as well as on the U.S.

U.S. President Dwight Eisenhower kicked it off with his “Atoms for Peace” speech at the UN, 8 December 1953,

The Atomic Energy Agency could be made responsible for the impounding, storage, and protection of the contributed fissionable and other materials. The ingenuity of our scientists will provide special safe conditions under which such a bank of fissionable material can be made essentially immune to surprise seizure.

The more important responsibility of this Atomic Energy Agency would be to devise methods whereby this fissionable material would be allocated to serve the peaceful pursuits of mankind. Experts would be mobilized to apply atomic energy to the needs of agriculture, medicine, and other peaceful activities. A special purpose would be to provide abundant electrical energy in the power-starved areas of the world. Thus the contributing powers would be dedicating some of their strength to serve the needs rather than the fears of mankind….

Against the dark background of the atomic bomb, the United States does not wish merely to present strength, but also the desire and the hope for peace.

And “Atoms for Peace” was part of an organized government PR campaign (“Operation Candor”) about Soviet nuclear weapons; see http://www.eisenhower.archives.gov/research/online_documents/atoms_for_peace.html”>Dwight D. Eisenhower Presidential Library for sources. Operation Candor was replaced by Operation Soothing Syrup (I am not making this up), according to Continue reading

GA PSC abdicates cost oversight for new nukes at Plant Vogtle

Finish it and then send we the taxpayers and ratepayers a bill? What kind of deal is that? So Southern Company already dodged a Fitch downgrade by delaying a decision, and now GA PSC wants to put it off for years more. That also delays solar deployment in Georgia, putting us still farther behind.

Ray Henry wrote for AP yesterday, Ga. approves deal on nuclear plant costs,

A debate over the rising cost of building a nuclear power plant in Georgia will be delayed for years under an agreement approved Tuesday by Georgia’s utility regulators.

The elected members of Georgia’s Public Service Commission unanimously approved a deal that will put off a decision on whether Georgia Power can raise its budget for building two more nuclear reactors at Plant Vogtle (VOH’-gohl) until the first of those reactors is finished. An independent state monitor has estimated the first reactor will be finished in January 2018 at the earliest.

Regulators will continue monitoring company spending but will not make a decision on raising the bottom line budget figure.

So GA PSC will keep watching costs run over budget but will do nothing about it.

Oh, wait, it’s actually worse: Continue reading

Entergy shutting down Vermont Yankee nuke: tenth down or never to be built in past year

As Entergy has been preparing to do for some time, it’s down forever for Vermont Yankee. That’s at least ten (10) down forever (Vermont Yankee, Kewaunee, Crystal River 3, San Onofre 2 and 3) or never to be built (Calvert Cliffs 3, South Texas Nuclear Project 3 and 4, Bellefonte, and Levy County) in the past year. How many will it take before Southern Company (or more likely GA PSC or even the Georgia legislature) realizes new nukes make no financial sense and terminates the Plant Vogtle 3 and 4 boondoggle on the Savannah River?

Entergy blamed Vermont Yankee on shale gas, but you ain’t seen nothing yet, as Moore’s Law for solar really kicks in. Next one to go: I say Entergy’s often-down Pilgrim 1 in Massachusetts; everything Entergy said about Vermont Yankee applies in spades to Pilgrim 1. Or maybe ten-times-down-this-year Palisades. Or bouncy man-killer Arkansas Nuclear One. So many to choose from!

Entergy PR on Market Watch today, Entergy to Close, Decommission Vermont Yankee –Decision driven by sustained low power prices, high cost structure and wholesale electricity market design flaws for Vermont Yankee plant –Focus to remain on safety during remaining operation and after shutdown,

NEW ORLEANS, Aug. 27, 2013 /PRNewswire via COMTEX/ — Entergy Corporation ETR -0.21% today said it plans to close and decommission its Vermont Yankee Nuclear Power Station in Vernon, Vt. The station is expected to cease power production after its current fuel cycle and move to safe shutdown in the fourth quarter of 2014. The station will remain under the oversight of the Nuclear Regulatory Commission throughout the decommissioning process.

“This was an agonizing decision and Continue reading

The Korean nuclear mafia: power companies, vendors, and testers

Document-forging Doosan was just the tip of the Korean nuclear corruption iceberg.

It’s different stateside, right? San Onofre 2 and 3 Oh, wait: U.S. NRC is refusing to supply Congress with safety documents related to the closing of San Onofre. But Plant Vogtle is much safer, right? Southern Company CEO Tom Fanning told us so. Of course, he also told us Kemper Coal would come in on budget, and now SO is writing off $611 million after taxes. But that bad concrete pour, the misplaced reactor vessel, the leaking tritium; those are all flukes, right? Meanwhile, solar panels don’t leak tritium, and if you misplace one, you only lose money, not risk lives.

By Choe Sang-Hun in NY Times yesterday, Scandal in South Korea Over Nuclear Revelations,

Korean nuclear reactor Weeks of revelations about the close ties between South Korea’s nuclear power companies, their suppliers and testing companies have led the prime minister to liken the industry to a mafia.

The scandal started after an anonymous tip in April prompted an official investigation. Prosecutors have indicted some officials at a testing company on charges of faking safety tests on parts for the plants. Some officials at the state-financed company that designs nuclear power plants were also indicted on charges of taking bribes from testing company officials in return for accepting those substandard parts.

Worse yet, Continue reading

GA PSC member ties Plant Vogtle nuke cost overruns to Kemper Coal in Mississippi

If Georgia Power stonewalls on cost overruns, will it lose at least one Commissioner this time? Long-time nuclear supporter Tim Echols suggested at the hearings this morning that cost overruns at nuclear Plant Vogtle should be capped like Southern Company was forced to do for Kemper Coal by the Mississippi PSC. Standard & Poor’s already downgraded SO because of Kemper Coal and two analysts have downgraded SO for sticking to coal and nukes instead of doing more solar and wind. If SO’s majority part Georgia Power loses the GA PSC, it could be curtains for Plant Vogtle’s new nukes.

Ray Henry wrote for AP this morning, Southern Co. challenged on nuclear plant costs,

Southern Co. subsidiary Georgia Power has asked to raise the budget for its share of massive project by $737 million to roughly $6.85 billion.

Public Service Commission Tim Echols asked whether the firm has considered offering a deal like one it reached in Mississippi over a separate plant that also proved expensive to build. The company has absorbed $540 million in losses in Mississippi and could face more.

Remember, Tim Echols has for two years now been Continue reading

Koch astroturf vs. solar jobs for Georgians

More solar for Georgia must be a good thing if AFP is organizing astroturf against it. GA PSC decides Thursday. Like another speaker at GA PSC last month, I don’t think even Bubba McDonald’s proposal to double solar requirements on Georgia Power goes nearly far enough, but at least it’s a start, which is more than Georgia Power will do unless nudged by GA PSC.

Ray Henry wrote for AP yesterday, Critics’ numbers misleading in Georgia solar fight: Georgia panel will vote soon on power plan,

A political group founded by billionaire brothers Charles and David Koch wants Georgia’s utility regulators to reject a plan requiring Southern Co. to buy more solar energy, but an Associated Press review finds it has used misleading figures to build its case.

The Georgia chapter of Americans For Prosperity, founded by billionaire brothers Charles and David Koch, wants Georgia’s utility regulators to reject a solar energy plan in Georgia. But an Associated Press review ahead of a vote on the issue finds that it has used misleading figures to build its case.

The Georgia chapter of Americans For Prosperity has said in mass e-mails that Continue reading

Southern Company only building nukes because they’re not paying, we are –Robert F. Kennedy Jr.

Kennedy said he’d be for nukes if they were safe or economical, but they are neither, while solar and wind are both. After calling the pro-nuke movie Pandora’s Promise a hoax, he addressed “safe” by pointing out the movie’s claimed former anti-nuke leaders were never leaders while major nuclear utility executives are indeed now anti-nuke leaders. (For example, I met former TVA Chairman S. David Freeman in DC where he was testifying against nukes.) Then Kennedy tore into Southern Company’s three-legged nuclear boondoggle and pointed out solar and wind are winning even against massive distortions in the economic playing field caused by public service commissions letting regulated utilities make the rest of us pay for their profits on uneconomic nukes.

Andrew Revkin posted on Youtube 19 June 2013, Robert F. Kennedy Jr. & Director of Pandora’s Promise Spar Over Nuclear Power,

The last nuclear power plant constructed in the world was in Finland. It cost about $11 billion a gigawatt. Now I’m involved with construction right now of one of the largest power plants that’s in north America which is in the Mojave Desert, and it’s a solar thermal plant, and it’s costing about $3 billion a gigawatt….

There’s no individual and there’s no merchant utility that will build a nuclear power plant, because they’re so expensive. You can’t make money on it. The only ones who will build them are regulated utilities like the Southern Company in Georgia… because they make money by spending money. They get reimbursed for their capital costs plus 12 or 15% per year. So they’ll construct it once they get approval from the public utility commission. Then they want to spend as much money on their capital costs because they’re not paying for it. You and I are paying for it.

I don’t think Bill Gates, or I saw Paul Allen was one of the funders of this film, that they’re going to spend their own money building one of these [nuclear] plants….

You could make energy by burning prime rib, but why would you take the most expensive way to do it.

And by last fall, the cost per gigawatt of solar photovoltaic (PV) panels was already under $3 billion per gigawatt so distributed solar PV makes just as much sense as massive desert thermal solar, and both make far more economic sense than nuclear. Plus costs of solar PV keep going down, pushing solar deployments up like compound interest, while nukes always take years to build and always cost more than budgeted. Southern Company is the king of nuke cost overruns, going 26 times overbudget per unit on Vogtle 1 and 2 and already 19 months late and about a billion dollarsoverbudget on Vogtle 3 and 4. Then there are the safety issues: a failed nuke can be Chernobyl or Fukushima and many nukes leak radioactive tritium into groundwater and vent radiation into the air, while a failed solar plant is a bunch of glass.

Robert F. Kennedy Jr wants a level playing field for solar and wind I got into the [solar] industry to show that there was an alternative and that the alternative was economically viable. And not only that, on a level playing field, if we weren’t giving them the subsidies to the incumbents, our technologies would beat them and soundly. They simply couldn’t compete.

He called the movie’s claims that solar and wind don’t work one of the movie’s many big lies because even without a level playing field we already built more solar and wind power in this country last year “than we did all of the incumbents combined”. Plus you’ve got to fuel fossil or nuclear plants, not to mention the toxic waste issues, while once you build solar or wind “it’s free energy forever”. Kennedy also pointed out the electric grid in the U.S. could be rebuilt to deliver solar and wind power as needed for less than has already been spent on breeder reactors that are no longer in use. The filmmaker made no attempt to rebut any of Kennedy’s points about existing solar and wind technologies that already beat nukes, coal, and natural gas, instead going on about pie-in-the-sky modular reactors.

This all illustrates why the Georgia Public Service Commission needs to stop letting Georgia Power and Southern Company suck radioactive profits at the public teat and make them get on with replacing coal with solar instead of letting old coal plant sites sit unused for more than a decade. Oh, and GA PSC needs to halt the Plant Vogtle nuke boondoggle, which is even worse than Southern Company’s Kemper Coal plant in Mississippi as a huge transfer of wealth from the people of the state to a monopoly.

GA PSC: Doug Everrett (1: south Georgia), Tim Echols (2: east Georgia), Chairman Chuck Eaton (3: metro Atlanta), Stan Wise (5 north Georgia), Bubba McDonald (4: west Georgia)

A monopoly that is supposed to be regulated as a public service. By the Public Service Commission whose Commissioners accept massive campaign contributions from employees and law firms of the utilities they regulate. It’s time for GA PSC to bat away the haze of coal smoke and the radioactive taint that surrounds them and go to bat against corruption and for the people of Georgia.

-jsq