President Trump this week announced a huge deal to build lots of new nuclear power plants. It’s an $80 billion plan involving a company called Westinghouse Electric. Two Canadian companies own Westinghouse: Cameco and Brookfield Asset Management.
Here’s how it works: The American government helps the company get permits approved faster and arranges money for constructing the reactors. In return, the government gets to keep 20 per cent of whatever profits come later. If Westinghouse becomes super valuable by 2029, for example, the government might own a fifth of the whole company. Trump wants these plants built quickly because computers running artificial intelligence need huge amounts of electricity.
Why Some People Are Nervous
A lot of safety experts don’t like this arrangement. Their concern is simple. If the government makes money when these reactors get built, will it still check them properly for safety problems? Greg Jaczko ran the Nuclear Regulatory Commission before. That’s the group responsible for making sure nuclear plants don’t cause disasters.
Jaczko brought up three bad nuclear accidents everybody knows about. There was Three Mile Island in Pennsylvania. Chernobyl happened in what’s now Ukraine. And Fukushima happened in Japan a few years back. He says all three happened partly because the people checking safety weren’t truly independent. When someone has skin in the game, they might not want to slow things down even if they spot warning signs.
Last Big Project Went Badly Wrong
There’s another reason people are uneasy. Not long ago, Westinghouse tried to build two big reactors in Georgia at a place called Vogtle. It was a complete disaster. The company went bankrupt in 2017 because costs spiralled out of control. Those reactors were supposed to take a certain amount of time and cost $14 billion. Instead, they finished seven years late and cost $35 billion.
Workers Found All Kinds of Problems
Parts would arrive on the construction site with the wrong measurements. Things didn’t fit together like they were supposed to. Patty Durand spent years watching that mess unfold. She works with a group called Georgians for Affordable Energy. Now she’s afraid that if permits get rushed through, important stuff gets missed. She mentioned droughts as one example. When there’s not enough water and it gets too hot, nuclear plants have to shut down or risk overheating.
The White House says those who worry are flat wrong. They put out a statement saying the safety rules stay the same. Nothing in this deal changes how regulators do their job. Some experts back them up on this. Patrick White works on nuclear issues and he thinks regulation can move faster without cutting corners.
But Edwin Lyman isn’t convinced. He’s a physicist who studies these things. His fear is that the White House will lean on the Nuclear Regulatory Commission too hard. He thinks they might push regulators to say yes to permits even when there are real safety questions that need more time to answer properly.
News At Glance
- Trump made $80 billion deal to build Westinghouse nuclear reactors with the government helping with permits
- The government gets 20% of profits creating worry that they won’t check safety properly
- Westinghouse’s Georgia project went bankrupt, ran 7 years late and cost double the original price
- White House insists all safety rules stay the same and critics are wrong
FAQs:
Q: Why does Trump want so many nuclear plants?
A: Computers that run artificial intelligence use lots of electricity. Trump wants enough power to keep all those data centres running.
Q: What’s wrong with the government making money on this?
A: Critics worry that if regulators know the government profits when reactors get approved, they might feel pressure to say yes even if there are safety problems.
Q: Didn’t Westinghouse mess up before?
A: Yes, their Georgia project was a disaster. It went bankrupt, finished way late and cost twice what they promised. Parts didn’t fit right.
Q: Could another Fukushima happen?
A: Former regulators say when safety checkers aren’t independent, bad accidents become more likely. That’s what they’re worried about here.
Q: Is this deal alright with anybody?
A: Some experts say that moving faster on permits does not necessarily mean less safe. The White House says all the safety rules are still in place.
___________
Stay Inspired. Stay Informed. For more breaking news and leadership insights, explore Inspirepreneur Magazine and subscribe to our newsletter.
