Vermont lead by corporate lapdog
Rep. Chris Pearson May 8th, 2008
I don’t know what my problem is, but I keep expecting that Jim Douglas operated under some onus of decency. Sure I know he’s close to the big wigs at Entergy. And I knew the decommissioning bill didn’t make him happy. Still, somehow I expected he would do the right thing. Who would want to explain over and over again that he is comfortable with Vermont taxpayers bailing out the Yankee owner when it comes time to shut the plant down? Surely not a savvy politician like Gov. Jim.
Wrong again. I give him the benefit of the doubt and he just re-affirms his status as Vermont’s top corporate lapdog.
In the Free Press today, Terri Hollenbeck points out that IBM didn’t like this bill either for fear it would increase their $34 million energy bill. Yikes - you can see how that would be a concern. It’s a wonder we don’t see a faint glow from over in Essex.
On the other hand, it’s reasonable to assume IBM’s Essex facility is a multi-billion dollar producer. Let’s say their annual earnings are $5 billion. That makes $34 million less than 1% of their operating costs.* IBM, Yankee and Governor Douglas consistently scream foul when anyone comes close to brushing up against their profits. It’s the job of IBM and Yankee to make money. Isn’t it Douglas’ job to protect Vermonters?
He’ll be long gone when this decision comes back to haunt us. Current estimates show the decommissioning fund is $400 million shy of what it will cost to dismantle the plant. The brilliant scheme Entergy suggests, and I can only assume Douglas favors, is to hold the plant in so-called SAFEMODE for many years after it goes off line. This keeps the high-level radioactive waste cool while the fund builds enough equity to pay for dismantling. Charming! Thanks for the leadership, Governor.
*Thanks to Doug Hoffer for this analysis