• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy US regulators delay decision to license New Mexico nuclear facility
Economy

US regulators delay decision to license New Mexico nuclear facility

by March 23, 2023
by March 23, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

U.S. regulators say they need more time to wrap up a final safety report and make a decision on whether to license a multibillion-dollar complex meant to temporarily store tons of spent fuel from commercial nuclear power plants around the nation.

The Nuclear Regulatory Commission issued a new schedule Monday, citing unforeseen staffing constraints. The agency was initially expected to issue a decision by the end of March. It will now be the end of May.

The announcement comes just days after New Mexico approved legislation aimed at stopping the project. It’s expected that supporters of the storage facility will take the fight to court, but New Mexico Gov. Michelle Lujan Grisham on Tuesday asked the NRC to suspend its consideration of the license application.

New Jersey-based Holtec International already has spent an estimated $80 million in its pursuit of a 40-year license to build and operate the complex in southeastern New Mexico. Company officials said Tuesday that the delay in licensing would have only a minimal impact on the original timeline.

‘With a project of this complexity, we understand the need for the regulating and licensing authority to have all the time and resources necessary to issue a licensing decision,’ Holtec spokesman Patrick O’Brien said in an email.

Holtec, elected officials from southeastern New Mexico and other supporters have been pushing hard to offer what they call a temporary solution to the nation’s problem of spent nuclear fuel, which has been piling up at commercial reactors for years.

Since the federal government has failed to build a permanent repository, it reimburses utilities to house the fuel in either steel-lined concrete pools of water or in steel and concrete containers known as casks at sites in nearly three dozen states. That cost is expected to stretch into the tens of billions of dollars over the next decade.

The legislation signed by Lujan Grisham last week requires that the state provide consent for bringing in such radioactive material. Consent from the Democratic governor would be unlikely, as she has argued that without a permanent repository, New Mexico stands to be the nation’s de facto dumping ground.

She reiterated her opposition in the letter to NRC Chairman Christopher Hanson.

‘Thank you for respecting the state of New Mexico’s laws and the voices of our citizens, tribes and pueblos who overwhelming(ly) supported this legislation,’ she wrote.

Similar battles have been waged in Nevada, Utah and Texas over the decades as the U.S. has struggled to find a home for spent fuel and other radioactive waste. The proposed Yucca Mountain project in Nevada was mothballed and a temporary storage site planned on a Native American reservation in Utah was sidelined despite being licensed by the NRC in 2006.

That project would have been located on land belonging to the Skull Valley Band of Goshute. Utah’s governor at the time — Republican Mike Leavitt — was among those fighting the effort. He and others were successful in getting Congress to amend a defense spending bill, essentially landlocking the site by creating the Cedar Mountain Wilderness and blocking a rail spur that would have delivered casks.

But it was only six weeks later that the NRC issued a license for the project.

ADVOCATES ASK NM COURT TO RECONSIDER ELECTRICITY RATE CASE

Don Hancock with the nuclear watchdog group Southwest Research and Information Center pointed to the Utah case.

‘If congressional action doesn’t affect NRC decision making, there’s no reason to think that New Mexico action has an effect,’ he said in an email Tuesday.

Elected leaders in Texas also were unsuccessful in keeping a similar project from being licensed by the NRC in 2021. Integrated Storage Partners LLC’s initial plans call for storing up to 5,512 tons of spent fuel and about 254 tons of low-level radioactive waste for 40 years. Future phases could boost that capacity to 44,092 tons of fuel.

Holtec officials are disappointed in the New Mexico legislation and argue that their project is safe, would be an economic boon for the region and would not affect ongoing operations in the Permian Basin, which is one of the world’s most productive oil and gas plays.

‘Passing a bill that is pre-empted by federal law and will be adjudicated accordingly in the courts is a counterproductive action that inhibits the state’s growth in the area of clean energy,’ O’Brien said, adding that local support has solidified the company’s belief that the project is still viable.

President Joe Biden has received dueling letters from supporters of the project and from Lujan Grisham and others in opposition. The administration has acknowledged the role nuclear power will have to play in reaching its carbon emission goals and earlier this year put up $26 million in grants for communities interested in studying potential interim storage sites.

This post appeared first on FOX NEWS
You Might Also Like
  • FBI says interviews of priest, choir director were part of investigation of ‘an individual,’ not Catholics
  • Squad members Cori Bush, Jamaal Bowman outraised by moderate Democrat challengers, as primary threats mount
  • Biden yet to respond to proposed meeting with Gold Star families, Issa says
  • Hawley calls out Biden campaign for using TikTok after president signed law banning it from federal devices
Share
0
FacebookTwitterPinterestWhatsapp

previous post
House Judiciary report: ‘No legitimate basis’ for Biden admin to target parents at school board meetings
next post
Biden admin concerned about Mexican military seizure of American company’s property, warns of trade impacts

You may also like

Biden policy to release illegal migrants without court dates suffers...

May 17, 2023

Virginia Democratic Sen. Tim Kaine to run for re-election in...

January 20, 2023

Mexicans go to the polls amid record violence against candidates,...

June 1, 2024

Sandra Lee shares breaking point in split from Andrew Cuomo:...

August 6, 2024

Biden classified documents: Republicans react to DOJ seizing more secret...

January 22, 2023

NM GOP leaders to file suit against Dem Gov Grisham...

September 13, 2023

Republicans send letter to Jake Sullivan demanding ‘total figures’ for...

September 26, 2023

Hamas had command tunnel underneath UNRWA’s headquarters in Gaza, Israel...

February 12, 2024

Lawmakers push to stop flow of US tax dollars to...

February 21, 2023

Eye-popping haul amid trials has Team Trump closing fundraising gap...

May 6, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    President Biden pushing for federal employees...

    August 9, 2023

    White House interns mocked for issuing...

    December 7, 2023

    Tesla (TSLA) Stock: Revenue Hits $25.18B,...

    October 24, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here