> because no company can take on board liability for disasters which nuclear is demonstrably capable of but fortunately have avoided to date
Recognising that this is a minor portion of a larger post - there are a lot of industrial companies that couldn't possibly cover the damage if something goes badly wrong (eg, explosives supplier flattens a major port, 3rd world mining accident, electrical utility causes wildfire, most mid-sized building companies if a skyscraper collapses, etc). Even many insurance companies won't pay out if a flood or fire hits a city, because they can't afford to cover large-scale disasters. Contamination in drinking water is also a pretty big risk. At that level of probability, the only way of dealing with these threats is government. No other organisation else has the manpower or resourcing to deal with rare catastrophes.
It is a fact that liability for a nuclear catastrophe would overwhelm a companies ability to pay. However, we do a lot of things that are more risky and more costly at that level of probability. The fact that there is risk is a very real consideration. That fact we can't insure it is not - there are too many things where, if a rare event happens, the liability cannot be shouldered by a corporation.
Fukushima cleanup, one of the worst disasters we've seen in 30 years, seems to have cost about $15 billion damages + $60 in compensation [0][1] vs $250 billion due to the actual disaster that caused the nuclear plant to fold (the tsunami). And this is as an unexpected, low probability, cost. If a corporation can't handle this, it is tiny bikkies to a government to cover the $15 billion in actual cleanup. And the probability of the government needing to act is tiny to start with. The risks here are so small we don't even talk about them outside the context of nuclear power.
> there are a lot of industrial companies that couldn't possibly cover the damage if something goes badly wrong (eg, explosives supplier flattens a major port, 3rd world mining accident, electrical utility causes wildfire, most mid-sized building companies if a skyscraper collapses, etc)
Of course this is why in developed countries they are required to buy insurance. Insurance companies exist which can take on extremely large liabilities for industry, the point is that Nuclear has never been able to afford the size of premiums which would make the full risk of its liabilities profitable to cover.
Fukushima was by no stretch an example of the worst nuclear event liable to occur. A bad accident or attack on any one of the worlds hundreds of nuclear plants CAN seriously irradiate many thousands, even millions of people in some locations, poison water tables and make land unlivable for decades - continuing harm to many creatures even if people are able to avoid it.
After each disaster like Chernobyl or Fukushima we don't just have a new "rate of deaths so far" line to work with, that average line is a one dimensional extremely simplistic measurement. Scientists and engineers who have taken it and as a valid summary of hazard should really know better.
Recognising that this is a minor portion of a larger post - there are a lot of industrial companies that couldn't possibly cover the damage if something goes badly wrong (eg, explosives supplier flattens a major port, 3rd world mining accident, electrical utility causes wildfire, most mid-sized building companies if a skyscraper collapses, etc). Even many insurance companies won't pay out if a flood or fire hits a city, because they can't afford to cover large-scale disasters. Contamination in drinking water is also a pretty big risk. At that level of probability, the only way of dealing with these threats is government. No other organisation else has the manpower or resourcing to deal with rare catastrophes.
It is a fact that liability for a nuclear catastrophe would overwhelm a companies ability to pay. However, we do a lot of things that are more risky and more costly at that level of probability. The fact that there is risk is a very real consideration. That fact we can't insure it is not - there are too many things where, if a rare event happens, the liability cannot be shouldered by a corporation.
Fukushima cleanup, one of the worst disasters we've seen in 30 years, seems to have cost about $15 billion damages + $60 in compensation [0][1] vs $250 billion due to the actual disaster that caused the nuclear plant to fold (the tsunami). And this is as an unexpected, low probability, cost. If a corporation can't handle this, it is tiny bikkies to a government to cover the $15 billion in actual cleanup. And the probability of the government needing to act is tiny to start with. The risks here are so small we don't even talk about them outside the context of nuclear power.
[0] https://en.wikipedia.org/wiki/Fukushima_disaster_cleanup#Cos... [1] https://www.forbes.com/sites/jamesconca/2016/03/10/after-fiv...