Yes, regulatory. Taxonomy of regulatory costs. (You can read all about it by search on B&W mPower reactor). The scope of this guidance is restricted to the analysis of substantive compliance costs. Governmental and regulatory bodies often enact new regulations or update old ones. Nuclear blogger Rod Adams has the devastating details of how the study came to public attention and its rapid fall from grace. Investors and business people are not the only individuals concerned about regulatory risk. Regulatory costs are an essential aspect of the efficiency and quality of regulations. http://smartech.gatech.edu/bitstream/handle/1853/42061/tedder_abel_cahill_streaming.html?sequence=2 13771 was issued by President Donald J. Trump in 2017. Now, Mr. Free Market advocate, do you understand why a nuclear fission heat engine that uses almost exactly the same kind of machinery as a fossil fuel combustion heat engine might cost several times more than it should in initial capital investment largely BECAUSE the fossil fuel-influenced US government has layered so much restraining regulation that I personally feel a little like Gulliver waking up in the land of the Lilliputians. Regulatory Costs means the costs and expenses incurred by Licensee or its Affiliates attributable to, or reasonably allocable to, the preparation, obtaining or maintaining of Regulatory Materials and Regulatory Approvals for the Product (other than Manufacturing-related Regulatory Approvals), including any filing fees and such costs and expenses incurred by Amarin or its Affiliates to the extent requested by … To me, nuclear is a great backstop technology whose time is sometime in the future in a fossil-fuel-rich world given relative economics. Other estimates have found even higher benefit-to-cost ratios, he said. From reading Ted Rockwell’s work over the years, his effort is in keeping and is consistent with the natural world view. Surprisingly, regulatory costs are often neglected or misinterpreted in regulatory assessments, except—though only recently—for administrative compliance costs. All bets and estimates are off if the applicant decides to be innovative and use one of the half dozen or more other technologies that have been proven at demonstration scale through several decades of testing here and abroad. How much does it cost the average small business to comply with government regulations? Producing each page requires several hours worth of engineering and technical labor to ensure technical accuracy of the numbers and words. Even with all its warts and foibles, the NRC might be the better mousetrap. The Academy, when advised of the lack of scientific rigor in the materials it published, was so embarrassed it returned the copyright to the authors and removed the work from its website. Not bloody likely when you put $$$ on a carbon emission unit. “The idea is to be very low cost, very safe and generate very little waste,” said the billionaire during a talk at China’s Ministry of Science and Technology. Regulatory risk is the risk that a change in regulations or legislation will affect a security, company, or industry. (For example, Rod here favors a carbon tax over a cap-and-trade scheme.) Rod, I think he’s referring to this article, which I think you tweeted a link to earlier this week. We are currently projecting that we will be ready to turn in our design certification application by the end of 2013 and have estimated that it will take about 42-48 months for the NRC to review that application. I wanted to learn more about the economics of different power sources, and realized I didn’t know much about economics. That link is also where I had seen that GE-Hitachi had made a proposal for the Sellafield site’s plutonium. In the case of fossil fuels. eurlex-diff-2018-06-20 (19)Businesses are burdened with high regulatory costs. If larger existing firms can overcome the costs of complying with regulations more easily than new, small firms, the startups that often drive … Our current timeline shows the first unit in operation by the end of 2020, but the NRC chairman, an Ed Markey and Harry Reid protege, just told the Washington Post that his agency will have to slow down its review of licenses because it does not have enough resources to pay for a sufficient staff for an efficient process. The estimated cost in NRC fees of obtaining a design certification is $50-$100 million IF the application is based on light water technology that has a 55 year history on which to base decisions. 0 It was smart. Here's an example of the probability distribution of a cost estimate for a project. Superficial actions and persuasive rhetoric used to make it seem as if the industry resists vacuous change are, not the answer. How are the federal regulators-watchdogs financed ? shows in figure 3.7 the trend in domestic production vs consumption. Financial controls are processes, policies and procedures that are implemented to manage finances. It is natural, it is the “invisible hand”, it is what drives human action and it is what drives action in the world around us. Gates has largely funded a Washington state-based company, TerraPower, that is developing a Generation IV nuclear reactor that can run on depleted uranium. Nuclear blogger Rod Adams has the devastating details of how the study came to public attention and its rapid fall from grace. I chose IFR because of its maturity and because the fissile material production and fuel fabrication infrastructure is scaled as capacity is built allowing a faster implementation of the technology. You bet. Burning stuff for heat or process heat applications generates carbon-dioxide too. There is some debate on the amount of “overhead” at NRC compared to other agencies. With nuclear power it all comes back down to the LNT model is the fundamental constraint that is hampering the benefit that nuclear power can create for our society. :;�I�].� ��^��j��!/�2�hR��4�HU��&���U��t�� 107 0 obj <>/Filter/FlateDecode/ID[<4D9990D95B0D958E1099E51201CBB912>]/Index[100 22]/Info 99 0 R/Length 56/Prev 65588/Root 101 0 R/Size 122/Type/XRef/W[1 2 1]>>stream These are important questions. http://web.mit.edu/mitei/research/studies/naturalgas.html Natural Gas is not some energy savior, it is merely an energy source just like everything else. The combustion of coal to produce electricity is a good example of this. I have no problems with either of those technologies, just that the entire costs need to be included in the price of the product. Here are some examples of regulatory changes that may affect companies or industries: This creates a significant loss in efficiency that is quadratic in its growth. The tradeoff has been an increase in regulatory cost. The times I have been wrapped up with the nuclear regulation tarbaby, it always seemed to come down to a go-along-to-get-along attitude on the part of management for one basic reason: it was “easier”. The producers are taking a portion of the consumer welfare for increasing their profits (producer welfare). It is the tool of guilt that is being held over our heads. Regulations cost $1.9 trillion in lost economic growth. Cal, once you get finished with exams for the semester, you might want to check out this lengthy post expounding on Weinberg’s intended meaning when he called nuclear power a “Faustian bargain”. Host and producer, The Atomic Show Podcast. The top-down approach estimates regulatory costs using econometric modeling and proxy measures of regulation. That’s a mouthful of complicated language. Being anti-nuke to start with any carbon tax legislation will treat nuclear unfairly, thus some silly exclusions will be included to force nuclear down. 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