Above $44 billion collected by the Federal Government for a permanent nuclear waste dump, but why do we still have none

Above $44 billion collected by the Federal Government for a permanent nuclear waste dump, but why do we still have none

Highlights:

  • Since the 1980s, the federal government has collected more than $44 billion from energy users to construct a permanent nuclear waste disposal facility in the United States.
  • Nuclear waste is currently kept in dry casks at current and former nuclear power station sites across the country.
  • The US Nuclear Energy Department of Energy Office took a preliminary step toward building an interim deposit especially for nuclear waste on Nov. 30. Some see this as cause for celebration, while others see it as kicking the can down the road.

Fund for permanent nuclear waste disposal earning interest

A $44.3 billion fund has been set up by the federal government for the construction of a permanent nuclear waste disposal site in the United States.

In the 1980s, it began collecting money from energy customers for the fund, which today earns roughly $1.4 billion in interest each year.

However, state and federal politics thwarted efforts to create a facility in Yucca Mountain, Nevada, and there has been a lack of political will to pursue alternative options. As a result, the United States lacks the infrastructure necessary to properly dispose of radioactive nuclear waste. The disposal might have taken place in a deep geologic repository, where the radioactivity would gradually decay over thousands of years without causing harm.

However, as the implications of climate change become more apparent, investors and even political activists are rekindling their interest in nuclear power as an energy source. It does not produce carbon dioxide, which contributes to global warming. As a result, proponents are once again forced to tackle the vexing issue of waste.

Why is Nuclear Regulatory Commission positive?

The federal government has resorted to paying utility firms to keep its hazardous nuclear waste because it does not have a permanent repository. Nuclear waste is currently kept in dry casks at current and former nuclear power station sites across the country. So far, the system has worked, and the Nuclear Regulatory Commission (NRC), the industry’s top regulator, stated in 2014 that current storage technology will be sufficient for 100 years.

“Since 1986, we’ve loaded more than 3,000 systems.” And we haven’t registered any problem. And there have been zero mishaps. “There has been no emission of radioactivity,” said McCullum.

“Since 1986, we’ve loaded over 3,000 of these systems.” And we haven’t encountered any issues. And there haven’t been any mishaps. “There has been no radiation leakage,” the reporters noted.

“It’s important to remember that just because NRC projected the storage systems will be replaced in 100 years doesn’t mean they will,” McCullum added. If a utility applies to the NRC for a license that lasts longer than 100 years, the NRC will have to redo its analysis. “Thank goodness we have until 2086 to figure it out.” I sincerely hope that by then, the disposal will be ready.”

The government had paid $9 billion to power firms for interim storage charges as of September 30th. According to the Department of Energy’s Agency Finance Report, it will take an additional $30.9 billion to complete a permanent waste disposal option in the United States.

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