The multi-billion dollar benefits of establishing a local nuclear waste dump were grossly exaggerated in last month’s royal commission tentative findings, according to a response by the Australia Institute released today.
The left-wing think tank, which has long railed against expanding Australia’s involvement in the nuclear fuel cycle, has published its response to the tentative findings of Kevin Scarce’s inquiry, “Digging for Answers”, which argues the economic assumptions underpinning the pro-repository conclusion were fundamentally flawed.
As InDaily revealed last week, the institute’s chief economist Richard Denniss will today brief MPs in state parliament on the report’s findings, in a seminar convened by Greens MLC Mark Parnell and Labor backbencher Steph Key.
The report argues the primary beneficiaries of a nuclear storage industry would not be South Australian taxpayers, but “companies involved in the international nuclear industry, [which] are anxious to reduce financing and other costs, as nuclear power is already uncompetitive with most other generation technologies”.
The Australia Institute is scathing about the methodology of consultancy firm by Jacobs MCM, which provided the data underpinning Scarce’s conclusions
22 March, 2016, by Tom Richardson, InDaily, as posted at http://indaily.com.au/news/2016/03/22/economic-benefits-of-nuclear-dump-exaggerated-report/