Australian nuclear news for the past week

a-cat-CANClimate change. It is a worry that Australia’ s scientifically illiterate Prime Minister Tony Abbott has, for his chief business adviser, one of the country’s leading climate change denialists. Maurice Newman makes even Tony look well-informed. Sadly, Tony has surrounded himself with yes-men. Notably, Greg Hunt , Minister Against the Environment has really sold out.  Hunt did his PhD on climate change, but is now the strongest advocate for coal mining.

Maverick politician Clive Palmer calls Tony Abbott’s Direct Action policy – a “token gesture” and a waste of money, and he won’t vote for it.

Small Modular Nuclear Reactors (SMRs) Just as Westinghouse, Babcock & Wilcox, and top investor Warren Buffett pull the plug on this uneconomic project, nuclear lobbyists seem to be succeeding in getting the Australian government to move in this direction. The government would need to overturn existing law against nuclear power, and make a massive order for a heap of these little gimmicks, that nobody else will buy.

Uranium mining.  Now here is an Australian mystery. Uranium prices continually topple yet  all the business pages tout up what a good investment is uranium. It really does look more like some kind of religious faith, rather than any sound economic analysis.

  • Four Mile uranium mine The Australian pronounces The Sun Will Rise On  Uranium, but then proceeds to describe all the problems facing South Australia’s Four Mile uranium project – warning that this new mine will be “no earnings bonanza”.  Four Mile uranium mine is supposed to start production soon, despite a coming court case.  It is largely owned by USA’s General Atomics, nuclear weapons maker, and big lobbyist of Australian State and Federal politicians.
  • Ranger mine. No resolution about who will pay to rehabilitate the radioactive mess created in Kakadu National Park.ERA desperately trying to restore investor confidence in Ranger.
  • Paladin uranium company continues in its downward spiral, with declining production and falling revenue

Finally, despite all the glowing predictions for uranium investment, the energy analysts do tell it as it really is. Greg Peel of FN Arena  is ” becoming increasingly bearish on the outlook for uranium prices, and just to add to global oversupply. Australia’s Four Mile mine in South Australia… is expected to commence production”

Joint Strike Fighter jets $12 billion purchase. Not only the Greens, but  even a Liberal MP is against this. 

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