Red tape and government bureaucracy is killing the U.S. nuclear industry by costing the average power plant $63 million annually, according to a new study by the American Action Forum.
The study found that government regulations cost the nuclear industry $15.7 billion or about $219 million per power plant. Most of this cost was in complying with government regulations about the safe disposal of nuclear waste, but government mandated paperwork alone accounted for $63.3 million annually.
”Nuclear power faces growing regulatory hurdles that do not reflect the improving safety and innovation within the industry,” Philip Rossetti, an energy data analyst involved in the research, told The Daily Caller News Foundation. “A good federal policy should be focused on addressing the more significant issues, like licensing a nuclear waste repository, rather than just doubling down on regulation.”