home / subscribe / donate / books / archives / search / links / feedback / events / faq
The New Print Edition of CounterPunch, Only for Our Newsletter Subscribers!
How Bush Pushed Up Oil Prices
No newspaper has run the headline, “Bush to American drivers: drop dead!"It’s the biggest press failure since WMD. In fact Bush could easily cut oil prices in half. EXCLUSIVE to subscribers in our latest newsletter Michael Hudson lays out in detail exactly how the Great Oil Price scam works, and who’s benefitting. In 2003 he was on Don Rumsfeld’s bench urging war. Now he’s reinvented himself, yet again. Alexander Cockburn on the twists and turns of a pet intellectual of the Establishment, Fareed Zakaria. Copper, cobalt and zinc and villainy in the Congo: Colette Braeckman gives CounterPunchers the latest chapter in “the race for Africa". Get your copy today by subscribing online or calling 1-800-840-3683 Contributions to CounterPunch are tax-deductible. Click here to make a donation. If you find our site useful please: Subscribe Now! CounterPunch books and gear make great presents.
|
Today's Stories July 25, 2008 Harvey Wasserman Paul Craig Roberts Alan Farago Paul D'Amato Gary Leupp Niranjan Ramakrishnan Mike Whitney Paul Krassner Mike Roselle Website of the Day July 24, 2008 Greg Moses Andy Worthington James Bovard Joe Bageant George Wuerthner DC Larson William Willers David Macaray Website of the Day July 23, 2008 Winslow T. Wheeler Paul Craig Roberts Ralph Nader Mike Whitney Susie Day Website of the Day July 22, 2008 Nikolas Kozloff Patrick Cockburn Soldz, Olson, Reisner Arrigo and Welch Moshe Adler Martha Rosenberg Dan Bacher Harvey Wasserman Anthony Papa Binoy Kampmark Website of the Day July 21, 2008 Ishmael Reed Mike Whitney Andy Worthington Scott Pellegrino John Ross Robert Weitzel Mike Stark Website of the Day July 19 / 20, 2008 Alexander Cockburn Jeffrey St. Clair Dave Lindorff Saul Landau Ron Jacobs Uri Avnery Neve Gordon Roane Carey Robert Fantina Christopher Brauchli Fred Gardner David Macaray Richard L. Hutto Bill Moyers / Ronnie Cummins David Yearsley Alison McKenna Wajahat Ali Poets' Basement Website of the Day July 18, 2008 Corey D. B. Walker Mike Whitney Robert Bryce Mike Roselle Bouthaina Shaaban Eve Spangler Website of the Day
July 17, 2008 Paul Craig Roberts James G. Abourezk Ralph Nader Allan J. Lichtman Andy Worthington"Screwed Up" and"Abused": Omar Khadr's Interrogations at Gitmo Ronnie Cummins
July 16, 2008 Jeffrey St. Clair Paul Craig Roberts Conn Hallinan Dave Lindorff William S. Lind Christopher Brauchli Website of the Day
July 15, 2008 Michael Hudson Brian Cloughley Patrick Cockburn John Ross Howard Lisnoff Website of the Day July 14, 2008 Uri Avnery Paul Craig Roberts Trish Schuh Patrick Cockburn Mike Whitney Alan Farago Seth Sandronsky Phyllis Pollack Website of the Day July 12 / 13, 2008 Alexander Cockburn Jeffrey St. Clair James Abourezk Nicole Colson Stan Cox Ismael Hossein-Zadeh Wajahat Ali / John Stauber Alan Farago Missy Beattie Robert Fantina Rannie Amiri Gregory Kafoury Fran Shor Martha Rosenberg David Macaray Andrew Wimmer Ron Jacobs Farzana Versey Kim Nicolini Poets' Basement Website of the Weekend July 11, 2008 Kevin Alexander Gray Sasan Fayazmanesh Peter Morici Mike Whitney Manuel Garcia, Jr. Robert Weissman Ramzy Baroud Kelly Overton Adrian Burgos Website of the Day July 10, 2008 Brian McKenna Paul Craig Roberts Saul Landau Ron Jacobs Joshua Frank Peter Morici Alan Maass Robert Weissman William Blum Alan Farago Website of the Day July 9, 2008 Ismael Hossein-Zadeh Luis Rodriguez Sheldon Richman Fatemeh Keshavarz Chad Hanson Sen. Russ Feingold Niranjan Ramakrishnan Dave Lindorff Stanley Heller Philip Rizk Website of the Day July 8, 2008 Nikolas Kozloff Laura Carlsen Mike Whitney Andy Worthington Patrick Irelan Chellis Glendinning David Macaray Dave Lindorff John Chuckman Phillip Doe Website of the Day July 7, 2008 Patrick Bond Kathy Kelly Andy Worthington Clifton Ross Elizabeth Schulte Ralph Nader Dave Lindorff Binoy Kampmark Stephen Fleischman Website of the Day July 5 / 6, 2008 Alexander Cockburn Jeffrey St. Clair / Patrick Cockburn Mike Whitney Robert Fantina Binoy Kampmark Rannie Amiri Eric Ruder Brian Cloughley William Blum Frank Barat Christopher Brauchli David Yearsley Ron Jacobs Karim Makdisi Wendy Thompson / N. D. Jayaprakash Ramzy Baroud Kelly Overton Richard Neville Poets' Basement Website of the Weekend
July 4, 2008 Kathy Kelly Dave Lindorff Paul Krassner Jackie Corr Laray Polk Dan Bacher Walter Brasch Charles Modiano Website of the Day July 3, 2008 Sharon Smith Andy Worthington Laura Carlsen Peter Morici Ramzi Kysia Martha Rosenberg Anne Landman Dave Zirin Kristin Bricker Website of the Day
July 2, 2008 Patrick Irelan Vijay Prashad Brian Cloughley Ralph Nader Robert Fantina Dave Lindorff Parvez Ahmed Robert Bryce Website of the Day July 1, 2008 Alexander Cockburn Mike Whitney Douglas Macgregor Steven Higgs Andy Worthington Binoy Kampmark Dave Lindorff Roger Burbach Richard W. Behan Gary Leupp Website of the Day |
July 25, 2008 Nuclear Regulatory Commission Deals Devastating Blow to Nuclear Power Industry New Nukes Not Ready for Prime TimeBy HARVEY WASSERMAN A devastating blow to the much-hyped revival of atomic power has been delivered by an unlikely source---the Nuclear Regulatory Commission. The NRC says the "standardized" designs on which the entire premise of returning nuclear power to center stage is based have massive holes in them, and may not be ready for approval for years to come. Delivered by one of America's most notoriously docile agencies, the NRC's warning essentially says: that all cost estimates for new nuclear reactors---and all licensing and construction schedules---are completely up for grabs, and have no reliable basis in fact. Thus any comparisons between future atomic reactors and renewable technologies are moot at best. And any "hard number" basis for independent financing for future nukes may not be available for years to come, if ever. These key points have been raised in searing testimony before state regulators by Jim Warren of the North Carolina Waste and Awareness Reduction Network and Tom Clements of the South Carolina Friends of the Earth, and by others now challenging proposed state-based financing for new Westinghouse AP-1000 reactors. The NRC gave conditional "certification" to this "standardized" design in 2004, allowing design work to continue. But as recently as June 27, the NRC has issued written warnings that hundreds of key design components remain without official approval. Indeed, Westinghouse has been forced to actually withdraw numerous key designs, throwing the entire permitting process into chaos. The catastrophic outcome of similar problems has already become tangible. After two years under construction, the first "new generation" French reactor being built in Finland is already more than two years In North and South Carolina, public interest groups are demanding the revocation of some $230 million in pre-construction costs already approved by state regulators for two proposed Duke Energy reactors. In both those states, as well as in Florida, Alabama and Georgia, Westinghouse AP-1000 reactors have been presented to regulatory commissions to be financed by ratepayers as they are being built. This astounding pro-utility scheme forces electric consumers to pay billions of dollars for nuclear plants that may never operate, and whose costs are indeterminate. Sometimes called Construction Work in Progress, it lets utilities raise rates to pay for site clearing, project planning, and down payments on large equipment and heavy reactor components, such as pressure vessels, pumps and generators, that can involve hundreds of millions of dollars, even before the projects get final federal approval. The process in essence gives utilities an incentive to drive up construction costs as much as they can. It allows them to force ratepayers to cover legal fees incurred by the utilities to defend themselves against lawsuits by those very ratepayers. And the public is stuck with the bill for whatever is spent, even if the reactor never opens---or if it melts down before it recoups its construction costs, as did Pennsylvania's Three Mile Island Unit Two in 1979, which self-destructed after just three months of operation. According to Warren and Clements, Duke Energy and its cohorts have "filed some 6,500 pages of Westinghouse's technical design documents as the major component of applications" to build new reactors. "Of the 172 interconnected Westinghouse documents," say NCWARN and FOE, "only 21 have been certified." And most of what has been certified, they add, rely on systems that are unapproved, and that are key to the guts of the reactor, including such major components as the "reactor building, control room, cooling system, engineering designs, plant-wide alarm systems, piping and conduit." In other words, despite millions of dollars of high-priced hype, the "new generation" of "standardized design" power plants actually does not exist. The plans for these reactors have not been finalized by the builders themselves, nor have they been approved by the regulators. There is no operating prototype of a Westinghouse AP-1000 from which to draw actual data about how safely these plants might actually operate, what their environmental impact might be, or what they might cost to build or run. In fact, as the NRC's June 27 letter notes, Westinghouse has been forced to withdraw key technical documents from the regulatory process. The NRC says this means design approval for the AP-1000 might not come until 2012. The problem extends to other designs. According to Michael Mariotte of the Nuclear Information & Resource Service, the "Evolutionary Power Reactor" proposed for Calvert Cliffs, Maryland, "is way behind in certification" causing delays in the licensing process. Similar problems have arisen with the "Economic Simplified Boiling War Reactor" design proposed for North Anna, Virginia and Fermi, Michigan. "All of these utilities seem to want standardization for the other guy, not for themselves, so most of them are making changes to the 'standardized' designs, says Mariotte. "Even the ABWR," being planned for a site in south Texas, which has actually been built before, "has design issues" that have caused delays. The problem, says Mariotte, "is that the NRC is still trying to go ahead and do licensing even with the designs not certified. This is going to lead to a big mess later on." But in the meantime, Public Service Commissions like the one in Florida, have given preliminary approval to reactor proposals whose projected costs have more than doubled in just one year. Florida Power & Light's two proposed reactors at Turkey Point, on the border of the Everglades National Park, are listed as costing somewhere between $6 billion and $9 billion. FP&L refuses to commit to a firm price, and is demanding south Florida ratepayers foot an unknowable bill for gargantuan projects whose costs are virtually certain to skyrocket long before the NRC approves the actual reactor designs. By contrast, the "huge" preliminary deal just reached between Florida, environmentalists and U.S. Sugar to buy some 180,000 acres of land to save the Everglades is now estimated at less than $2 billion, less than one-sixth the minimum estimated cost of the two reactors proposed for Turkey Point. In the larger picture, the depth of this scam is staggering. With no finalized design, and no firm price tag, a second generation of nuclear power plants is now being put on the tab of southeastern citizens whose rates have already begun to skyrocket. These reactor projects cannot get private financing, and cannot proceed without either massive federal subsidies and loan guarantees, or a flood of these state-based give-aways. They also cannot get private insurance against future melt-downs, and have no solution for their radioactive waste problem. Current estimates for finishing the proposed Yucca Mountain national waste repository, also yet to be licensed, are soaring toward $100 billion, even though it, too, may never open. By contrast, firm costs for proposed wind farms, solar panels, increased efficiency and other green sources are proven and reliable. These projects are easily financed by private investors lining up to become involved. Some $6 billion in new wind farms are under construction or on order in the United States alone. They are established and profitable, and can in many cases can be up and running in less than a year. The high-profile campaign to paint atomic energy as some kind of answer to America's energy problems has hit the iceberg of its economic impossibilities. The atomic "renaissance" has no tangible approved design, and no firm construction or operating costs to present. There are no reliable new reactor construction schedules, except to know that it will be at least ten years before the first one could conceivably come on line, and that its price tag is unknowable. In short, the "nuclear renaissance" is perched atop a gigantic technical and economic chasm that looms larger every day, and that could soon swallow the entire idea of building more reactors. Harvey Wasserman, a co-founder of Musicians United for Safe Energy, is editing the nukefree.org web site. He is the author of SOLARTOPIA! Our Green-Powered Earth, A.D. 2030, is at www.solartopia.org. He can be reached at: Windhw@aol.com
|
Now Available from CounterPunch Books!
RED STATE REBELS: Edited by ![]() Buy End Times Now! CounterPunch Books of the Crossroads: HOW THE IRISH INVENTED SLANG By Daniel Cassidy AMERICAN BOOK AWARD! ![]() Click Here to Buy! Click Here for Dates & Venues Michael Neumann's Devastating Rebuttal of Alan Dershowitz ![]() Click Here to Buy! Saul Landau's Bush and Botox World with a Foreword by Gore Vidal ![]() Click Here to Order! How They Made a Killing on the War on Terrorism ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
![]() Humanitarian Imperialism By Jean Bricmont ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() CITY BEAUTIFUL By Tennessee Reed ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |