To Advertise On Our Website Click Here

BP & YUCCA: WILL THE GULF OIL SPILL FUND EVER BE SPENT AS INTENDED?

Nuclear Townhall welcomes opinion pieces from its readers, which will be published as quality, space and interest allow. Please submit all writings to info@nucleartownhall.com.

By Yucca Johnny
For most of those listening to the President's Gulf Oil Speech last week, the idea that BP would be providing $20 billion to pay claims related to their oil spill seems like a good thing.

However, there are some 120 communities in 39 states around the country that were left wondering if this is another $20 billion being teed up to be poured down a proverbial black hole.

Those are the communities in which the federal government has long promised to meet its obligation to clean up spent fuel and nuclear waste by moving the material to a central national repository.   Indeed, the government has already collected more than $30 billion including interest to do so.

Or as Jim McTague notes in a Barrons piece on the Yucca Mountain termination decision:  Obama’s Other Disaster, the President has ‘triggered a less publicized environmental mess with costs that rival BP’s deep-water oil spill.  The difference is that taxpayers –not some energy company – will foot the bill.  The legal costs could top $50 billion.   And if Democratic Sen. Harry Reid of Nevada loses his tough re-election bid come November, then to borrow a phrase from an Oval Office operative, it will be money down the toilet.”

In fact the federal government has spent over $10 billion in scientific and technical studies to verify that the Yucca Mountain repository located in Nevada is scientifically suitable to store nuclear materials.

Notwithstanding all this, the Energy Department without any scientific justification and without a "Plan B," has cancelled the Yucca Mountain repository, stranding, in all likelihood, nuclear waste in these communities for the better part of a century.  Adding insult to injury, the Department says it will continue to collect annually the roughly $800 million mandated by the Nuclear Waste Policy Act, without any clear plan or need for the money.

Will the BP oil fund go the same way? The federal government is desperate to reduce the federal deficit and could very well collect and reroute this money away from its original mandate for years by stretching out claim payments. 

 Caveat Emptor!

Tags: , , ,

15 Responses to “BP & YUCCA: WILL THE GULF OIL SPILL FUND EVER BE SPENT AS INTENDED?”

  1. Battle Born Says:

    It’s good to see Yucca Johnny back in action!

    Let the buyer beware indeed. The only winners in the Yucca debacle to date have been the lawyers. The BP escrow set-aside — however well intentioned — promises to be more of the same e.g. a lawyers full employment fund.

  2. Battle Born Says:

    It’s good to see Yucca Johnny back in action!

    Let the buyer beware indeed. The only winners in the Yucca debacle to date have been the lawyers. The BP escrow set-aside — however well intentioned — promises to be more of the same e.g. a lawyers full employment fund.

  3. Battle Born Says:

    It’s good to see Yucca Johnny back in action!

    Let the buyer beware indeed. The only winners in the Yucca debacle to date have been the lawyers. The BP escrow set-aside — however well intentioned — promises to be more of the same e.g. a lawyers full employment fund.

  4. NuclearPundit Says:

    Yeah for the rule of law and the decision of the New Orleans Federal Court to issue an injunction to block the moratorium against drill in the Gulf.
    It just to bad that the U.S. Court of Appeals did not issue an injunction against DOE’s unlawful termination of Yucca.
    But maybe the Court this fall will direct DOE reactivate Yucca.
    The Courts are the best hope since this Congress has become completely dysfunctional over this issue.

  5. NuclearPundit Says:

    Yeah for the rule of law and the decision of the New Orleans Federal Court to issue an injunction to block the moratorium against drill in the Gulf.
    It just to bad that the U.S. Court of Appeals did not issue an injunction against DOE’s unlawful termination of Yucca.
    But maybe the Court this fall will direct DOE reactivate Yucca.
    The Courts are the best hope since this Congress has become completely dysfunctional over this issue.

  6. NuclearPundit Says:

    Yeah for the rule of law and the decision of the New Orleans Federal Court to issue an injunction to block the moratorium against drill in the Gulf.
    It just to bad that the U.S. Court of Appeals did not issue an injunction against DOE’s unlawful termination of Yucca.
    But maybe the Court this fall will direct DOE reactivate Yucca.
    The Courts are the best hope since this Congress has become completely dysfunctional over this issue.

  7. Neutron Nerd Says:

    Great to have this forum and dialog. I am guessing Yucca Johnny is the Lone Ranger or Zorro. Unmask yourself!

    In the meantime, perhaps the Federal Election Commission should insist that the Energy Department’s $50 billion contribution to the Reid re-election campaign be reported on his next political contributions filing. So much for hope and change.

  8. Neutron Nerd Says:

    Great to have this forum and dialog. I am guessing Yucca Johnny is the Lone Ranger or Zorro. Unmask yourself!

    In the meantime, perhaps the Federal Election Commission should insist that the Energy Department’s $50 billion contribution to the Reid re-election campaign be reported on his next political contributions filing. So much for hope and change.

  9. Neutron Nerd Says:

    Great to have this forum and dialog. I am guessing Yucca Johnny is the Lone Ranger or Zorro. Unmask yourself!

    In the meantime, perhaps the Federal Election Commission should insist that the Energy Department’s $50 billion contribution to the Reid re-election campaign be reported on his next political contributions filing. So much for hope and change.

  10. Affilate Program Says:

    Affiliate marketing programs affiliate marketing tips affiliate affiliated foods

  11. Eleanor Arif Says:

    Couldnt agree more with that, very attractive article

  12. Pink Friday Says:

    I was just chatting with my coworker about this last week over lunch . Don’t remember how in the world we got on the topic actually , they brought it up. I do remember having a wonderful fruit salad with cranberries on it. I digress…

  13. genital warts removal Says:

    Many thanks for another wonderful article. Where else could anyone get that kind of information in such a perfect way of writing? I have a presentation next week, and I am on the look for such information.

  14. Cell phone Forums Says:

    You completed several good points there. I did a search on the issue and found mainly people will consent with your blog.

  15. Sharie Hamiter Says:

    I really like the way in which you write and also the theme in your weblog. Did you code this yourself or was it done by a expert? I’m extremely very impressed.