Friday, February 27, 2009

Huge Ontario Deficit, New Nuclear Nickled


BBC Tone: Ontario has thrown up the black curtains to hide a 13 billion dollar deficit. They are vying for first place with the Harper gov't for 'Least Transparency in the World Award'.

Some bloggers have speculated that the only way to waste sufficient money for new nuclear is to go back to the old way of Ontario Hydro gov't guaranteed bonds. The public is used to paying a 'deficit charge'. This huge deficit makes it more difficult to raise the money, and investors will rightly demand a pound of flesh. Ontario may be considering the use of Nigerian salesmanship to push these bonds, since they hold a sistership in the Transparency International rankings.

Less money for new nuclear will most likely result in a reduced scale, perhaps involving the use of a considerable amount of cardboard. Or perhaps the French specialty of more water in the concrete. Naturally, all geology and seismicity will be put on the back burner in these dire financial times.

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