Karen Hadden

Heavily subsidized by taxpayers and rate-payers, nuclear power is susceptible to delay, cost overruns and significant environmental risks. Investing billions into more nuclear power threatens to derail funding that would be better spent on energy efficiency and safer, cleaner renewable energy.

Moody’s advises investors that nuclear projects frequently lead to financial crunch and credit rating drops. The two South Texas Project reactors proposed for the existing Bay City site were supposed to lead the so-called “nuclear renaissance,” but there has been strong citizen and legal opposition and the cost has already skyrocketed. Estimates now exceed $18 billion, three times original projections. No shovel has yet been turned and no license granted.

Maybe you remember the massive boondoggle when the South Texas nuclear reactors ran six times over budget; were eight years late coming online; and plagued with mismanagement, construction problems and lawsuits. Think déjà vu.