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Friday, May 04, 2007
Victor Davis Hanson :: Townhall.com Columnist
Hooked on trivia
by Victor Davis Hanson
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Will Congress pass Obamacare by the end of the year?

Americans for weeks woke up and went to bed to news updates about Anna Nicole Smith's death and the fate of her daughter.

Then, we seemed to go into near national paralysis over Don Imus' "hos" slur - yes, including this writer, who wrote half a column on his arrogance.

But then actor Alec Baldwin came to the rescue screaming, "Pig!," at his poor 11-year-old daughter - and, of course, accepting Dr. Phil's televised offer of intervention.

The media run with this trivia because they know it will hook viewers. But why do we care about this transient fluff? After all, it's not as if there hasn't been real news this spring.

To recap just some of what's been going on while we waste our time following spats between Rosie O'Donnell and Donald Trump:

We are reaching the 11th hour in Iraq, as Gen. David Petraeus surges troops to secure Baghdad and stabilize a fragile democracy before the Democrats cut off funds for the war effort. Al-Qaida in Iraq tries to pull off as many spectacular attacks as possible to demoralize Americans. The future of much of the Middle East hangs in the balance.

Last week, jihadists who were planning to blow up an oil field in Saudi Arabia were arrested. And according to a leaked memo from British intelligence, others plot new major attacks.

Our erstwhile ally Europe is experiencing the best and worst of times. A strong Euro cannot hide static economic growth, high unemployment, unassimilated minorities and little defense capability. Europeans have little confidence in either their spiritual or material defenses to protect against an unpredictable Russia, a nuclear Iran or al-Qaida's next-generation plans for mass destruction.

Speaking of Russia, it is suddenly rich beyond belief. It may soon pump 10 million barrels of oil per day - much of it sold on the world market at sky-high prices. Russia already supplies Europe with half of its daily natural gas needs.

And as the Russian government becomes more repressive at home, it showcases its new energy clout abroad. A bullying Vladimir Putin threatens former Soviet republics with gas cut-offs and Estonia with diplomatic isolation. He warns NATO countries not to participate in American led-missile defense. Russian dissidents mysteriously are murdered at home and abroad. Why reform its politics or the economy when Mother Russia can grow rich hawking oil?

Iran is even more dangerous, vowing both to become a nuclear power and wipe out Israel. Until then, it is busy supplying Hezbollah and Hamas terrorists, kidnapping sailors, and fabricating bombs to kill Americans in Iraq. Continued...

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About The Author
Victor Davis Hanson is a classicist and historian at the Hoover Institution, Stanford University, and a recipient of the 2007 National Humanities Medal.

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To Gabby
I have been out of the industry now for about 1.5 years so I may be behind on some things. My knowledge of the Pebble Bed Reactors leads me to believe that they probably will not be any cheaper than the current reactors. Both Westinghouse and G.E. have advanced models of their reactor systems with designs already approved by the NRC (Westinghouse used the standard PWR model while GE uses the BWR).

Several utilities have already filed a notice of intent to build a new plant which is the first step in the process. (That was as of when I was still there).

Don't expect to see a massive building effort though. The libdolts screen that Nuclear Power is subsidized but it is not. When you ask them how, the common answer is the Price-Anderson Act which limits the liability of a company in the event of an accident and provides an insurance company (ANI). The insurance is about like Flood Insurance, it is EXPENSIVE and it varies dependent on your rating with INPO and the NRC. In short, it is not a subsidy that is measurable.

The biggest holdup for building new plants is the ability to recover costs from the State PSCs and the uncertainty on the waste. During the last building boom PSCs were not allowing full recovery of costs in the rate base. As to burial of waste, Yucca Mountain was supposed to open 10 years ago and no end is in site. And BTW, Yucca Mountain was paid for (and is still being paid for) by the utilities.

Government and capitalism
The A-bomb is a special case because of the need for secrecy. Not exactly the sort of project that you want 15 defense contractors to bid on during a war.

Government can invent stuff, but the market is needed to make it commercially feasible. The computer is a prime example; it originated from government programs, capitalists built mainframes feasible for businesses, and microcomputers that just about anyone can buy.

Space flight is another. NASA could put a man on the moon and dock an American capsule with a Commie capsule, but capitalists brought costs down sufficiently to make the commercial satellite industry a reality, and other capitalists are taking baby steps to establish space tourism. Yeah, that industry caters to the rich, but that's true of all infant industries - I remember when VCRs cost 700 bucks (in early 1980s dollars) and the DVD for the box office megaflop "Heaven's Gate" went for $60.
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