The Credit Crunch and Nuclear Power
November, 2008
Professor Steve Thomas, PSIRU, Business School,
University of Greenwich
DRAFT
Since the decline following nuclear power's golden era of the mid-70s, there have
been frequent predictions of an imminent nuclear revival, but all came to nothing. The
latest revival, widely known as the ‘Nuclear Renaissance' and dating from 2002-03, is
being pursued with greater determination than its predecessors. But after five years,
the absence of any new orders in key markets such as USA and UK and the
unresolved issues, for example on finance has led to increasing doubts, even before
the extent of the impact on the world economy of the ‘Credit Crunch' is apparent, as
to whether the renaissance will again be still-born. While the ‘Credit Crunch' will not
be good for most large scale projects, will it be the last straw for the prospects of a
Nuclear Renaissance?
For more information, please visit the Nonproliferation Education Policy Center website at: http://www.npec-web.org/Frameset.asp?PageType=Single&PDFFile=20081112-Thomas-CreditCrunchNuclearPower&PDFFolder=Essays
Professor Steve Thomas, PSIRU, Business School,
University of Greenwich
DRAFT
Since the decline following nuclear power's golden era of the mid-70s, there have
been frequent predictions of an imminent nuclear revival, but all came to nothing. The
latest revival, widely known as the ‘Nuclear Renaissance' and dating from 2002-03, is
being pursued with greater determination than its predecessors. But after five years,
the absence of any new orders in key markets such as USA and UK and the
unresolved issues, for example on finance has led to increasing doubts, even before
the extent of the impact on the world economy of the ‘Credit Crunch' is apparent, as
to whether the renaissance will again be still-born. While the ‘Credit Crunch' will not
be good for most large scale projects, will it be the last straw for the prospects of a
Nuclear Renaissance?
For more information, please visit the Nonproliferation Education Policy Center website at: http://www.npec-web.org/Frameset.asp?PageType=Single&PDFFile=20081112-Thomas-CreditCrunchNuclearPower&PDFFolder=Essays