The epic tragedy unfolding in Japan is heating up the debate on
nuclear power. What will this mean for the future of nuclear
worldwide and in the US? There are significant risks, costs, and
benefits. Does 1 in 74,176 sound like good odds? I’m really not
sure. Bill Dedman, of msnbc.com, writes that the U.S. Nuclear
Regulatory Commission has calculated the odds of an earthquake
causing catastrophic failure to a nuclear plant and at the
typical nuclear reactor in the U.S., “there’s a 1 in 74,176
chance that the core could be damaged by an earthquake, exposing
the public to radiation. That’s 10 times more likely than you
winning $10,000 by buying a ticket in the Powerball multistate
lottery, where the chance is 1 in 723,145.” What does nuclear
power cost? Does $100+ per MWh cover the costs? Federal supports
to foster the industry are costly; tax credits, R&D funding
($853 million requested for 2012), loan guarantees (currently at
$18.5 billion, and up to $36 billion in 2012), as well as limits
on legal liability