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Old May 2nd, 2011 #60
Kennewickman
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GODOLLO JUNKET OF ENERGY EUROKLEPTOCRATS MIXES MUMBOJUMBO WITH CAVIAR

The junket of energy ministers of Fourth Reich held in Godollo of Hungary on 2-3 May, discusses two items on the agenda: the Energy Roadmap 2050, and the EU's external energy relations. Both items are key subjects and initiatives that will decide the future of the EU's energy policy for decades to come. This is what makes the informal meeting an important stage of Hungary's term of EU Presidency.

Kleptocrats are often taking very expensive junkets, taking advantage of their positions and access to public funds to undertake pleasure trips thinly disguised as being of political importance. For example, a keptocrat might travel to Greece, claiming to attend a conference there, but leaving plenty of days to explore the Greek islands and Greek delights at leisure.

Kleptocrats, accompanied by their kith and kin, are going to junkets because they cannot miss a good party at taxpayers' expense. The worst thing that could happen in a junket is running out of caviar and hookers. Many junketeers use military jets that cost 10,000 euros per hour! Deputies of the European Parliament(EP), aka Eldorado of Prostitutes, love junkets! http://venitism.blogspot.com

Hoi polloi fear that a nuclear reactor might become an atomic bomb. But this is impossible. Reactor grade uranium is 5% U-235 that produces slow chain reaction. In order to get to bomb grade uranium, the kind that will explode with an instantaneous chain reaction, uranium must be enriched to 90% U-235.

With energy prices so high, nuclear reactors bring windfall profits! On the other hand, a reactor can melt down. This is what happened at Three Mile Island. A valve stuck open and a series of mistakes led the operators to think the core was overflowing when it was actually short of cooling water. They further drained the core and about a third of the core melted from the excess heat. Americans were at shock and awe, because they were not sure what was happening. At the end, the melted fuel stayed within the reactor vessel.

Critics had predicted a China syndrome where the molten core would melt down into the earth where it would hit groundwater, causing a steam explosion that would spray radioactive material across a huge area. Three Mile Island was an industrial accident, but no one was injured. This was not the case at Chernobyl, where a cheap Soviet design did not provide a concrete containment structure around the reactor vessel. A stupid mistake set fire to the carbon moderator, which controls the flow of neutrons. The result was a four-day fire that spewed radioactive debris around the world. More fallout fell on Harrisburg, Pennsylvania, from Chernobyl than from Three Mile Island!

Nuclear power is risky for investors, because it ties up more capital for longer periods of time than its main competitor, natural-gas-fired generation. Nuclear power makes economic sense only if natural gas prices are very high. Then, over time, the high initial costs of nuclear power would be offset by nuclear power's lower fuel costs. Renewable energies should supply half of all energy needs by 2050 and that nuclear and coal power would continue until supplies could be met entirely by clean energy.

The Energy Roadmap 2050 initiative will be a decisive energy policy document, and it will draw up a schedule for the establishment of a low-carbon energy system by 2050. Fourth Reich mumbojumbos that an 85-90% cut of emissions, compared to their 1990 level, is not only a challenge, but can also become a means of enhancing employment, productivity and welfare, by a set of measures including the encouragement to using new, and innovative technologies.

It's a classic economic fallacy, identified as early as 1850 by French economist Frederic Bastiat. Is it a good or a bad thing, Bastiat asked, if someone breaks a shopkeeper's window? Superficially, it's a good thing: more work to keep the glaziers busy and paid. But that work comes at the expense of other goods and services the shopkeeper would have bought if he didn't have to pay for the window. And, while those other goods and services actually would have improved the lot of the shopkeeper and his customers, breaking and replacing the window enhances nothing.

It's an obvious point, but one that is constantly overlooked. Eurokleptocrats have consistently fallen into the broken windows trap, arguing that climate change rules would create millions of "green jobs" by increasing demand for new technologies. But this new demand comes at the expense of other expenditures that would have been made, and the jobs that would have been created elsewhere. Rather than a boon, the new green jobs are just so much broken glass.

During the meeting, Eurokleptocrats discuss the Roadmap in general and also in specific terms. Along with plenty of caviar and champagne, they discuss important approaches, such as the Roadmap's potential effects on competitiveness, research and development, markets and consumers. They also touch upon the possible social and economic effects. http://venitism.blogspot.com