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Market News

 August 02, 2009
Australia Dumps Nuclear...For Renewable Energy

 Last week in Australia, mining company, Rio Tinto, along with the Nuclear Science and Technology Organization, declared that Nuclear energy was the cleanest, safest, and cheapest form of alternative energy to lower Australia’s greenhouse gas emissions by 60% before 2050.

However, Minister for Climate Change and Water, Penny Wong, disagreed with this, instead calling for a focus on renewable energies to meet reduction targets.  Wong demanded a focus on developing renewable technologies by helping to drive investment.

The myth of cheap nuclear energy was debunked last month by a study from economist, Dr. Mark Cooper who concluded that one kilowatt hour of nuclear energy would cost 10-12 cents, whereas energy developed from renewable sources would cost around 6 cents per kilowatt hour.

To read more click the following link:

http://www.energymatters.com.au