Hedge Fund Managers Back Move to Close Entergy Nuclear Plant (Indian Point Alert)

Bloomber Terminal | 2003-05-02

[WaveThatFlag]

More enviornmental extremist propaganda. Indian point is so well guarded it is the closest thing to impossible to attack. And the worst nuclear power plant disaster in history, Chernobyl, killed 35. An attack at Indian Point is a concern, but the situation is under control. Meanwhile, the enviornmentalist spin job continues. They care not about citizens or terrorism. They don't like nuclear power and they have repeatedly tried to capitalize on 911 by linking thier cause to it. A closed Indian Point would decimate the already fragile NY economy. And from the looks of things, at least one hedge fund manager has been taken in. I for one would not want my money in a hedge fund that makes decisions based on the advice of wacky enviornmentalists. Despite the author's niavete, I doubt many managers will fail to grasp that most investors feel the same.

[AdamSelene235]

Currently long Entergy and will buy more if she dips.

There is simply no viable power source on Earth that is safer or more environmentally sound than nukes.

[gridlock]

Power plants rejected on environmental grounds recently in the region of Indian Point include gas turbines, coal-fired, gas-fired, waste-to-energy, hydroelectric, oil fired, geothermal, wind farms and solar. There is no acceptable way to generate energy in this area. Oh, and BTW, you cannot site new transmission lines, either.

These people won't be happy until we are all living in caves without even a wood fire to keep us warm.

[AdamSelene235]

Power plants rejected on environmental grounds recently in the region of Indian Point include gas turbines, coal-fired, gas-fired, waste-to-energy, hydroelectric, oil fired, geothermal, wind farms and solar. There is no acceptable way to generate energy in this area. Oh, and BTW, you cannot site new transmission lines, either.

Energy is the foodstuff of civilization. Attacking it is nothing short of an assault on the foundations of civilization.

This is, of course, the entire point of the exercise.

[John O]

Indian Point, located on the Hudson River 33 miles north of New York City's Times Square, is about 20 miles west of Greenwich, Connecticut, home to Jones's Tudor Investment Corp

Can you say NIMBYism? I knew you could.

How did this guy get to be a successful money manager when he's obviously a communist?

[gridlock]

This is, of course, the entire point of the exercise.

You're right about that.

But what will really happen is the NY Utilities will buy energy from Western PA, Ohio and Indiana generators, who will generate power by burning low-grade coal. And where will the smoke from those coal-fired plants wind up?

You get three guesses, and the first two don't count.

[AdamSelene235]

But what will really happen is the NY Utilities will buy energy from Western PA, Ohio and Indiana generators, who will generate power by burning low-grade coal. And where will the smoke from those coal-fired plants wind up?

Oddly, there is more energy in the radioactive waste produced by coal burning plants than there is in the coal itself!

If a nuke dumped equivalent amounts of radium, thorium and uranium straight into the atmosphere, it would be shut down and sued into oblivion.

[ninenot]

Looks like they are 'shoving it' right at Dick Cheney, who is preparing a big offensive shortly to UP the amount of Nuke Power generated in the USA.

[chimera]

Another one that was rejected in the Hudson River Valley area is that darling of the solar energy crowd, the pumped storage reservoir. In fact, many sociologists are inclinded to trace the origins of the modern environmentalist movement to the opposition by wealthy landowners along the Hudson River to the planned Storm King Mountain pumped storage reservoir. The idea was to take excess power and use it to pump water uphill to a reservoir, then recover the energy it by letting the water fall through penstocks and generate hydropower, very much like some proposed storage systems for solar generation (so you'd have power at night). Seems the well-heeled landowners along the valley didn't want their picturesque views spoiled by transmission lines and high-tension towers.

To this day if you ask most people and politicians in the NY area what the Storm King Mountain project was all about, most of them will say it was a nuclear plant. So not only are they ugly up there, but they're stupid as well.

I find it ironic when I see these jean-clad, ponytailed, greasy, dirty, slimey environmentalist wacko types demonstrating for "the environment", when in fact the genesis of "their movement" was the protection of the interests of privileged and wealthy landowners.

[OldFriend]

Her heinous and cristie brinkley, among other left wing activists have been agitating for the closure of Indian Point.

There's brinkley, with her huge home, lighted tennis court, pool, etc. not caring a bit about the cost of electricity to the rest of the folks.

[Conservative til I die]

I live in Westchester, about 25 miles down from Buchanan. I'm not troubled by the plant one bit, nor is anyone else I know. I've always said this wasn't about safety, it was about environmentalists using 9/11 for their outdated, early-80's agenda.

[CaptRon]

I'm across the river and south a bit but I am not bothered about it either.

I have found that, when asked, those opposed to Indian Point cannot tell you why other than "Its' dangerous". Forget about asking them how a plant works.

[chimera]

There's brinkley, with her huge home, lighted tennis court, pool, etc. not caring a bit about the cost of electricity to the rest of the folks.

Typical self-absorbed airhead celebrity. Doesn't care about anybody but herself, especially not the "little folk" who will lose their jobs and homes and families if the plant shuts down.

Christie (and Alec Baldwin) were responsible for the destruction of the incredibly productive (from a research viewpoint) and valuable High Flux Beam Reactor at Brookhaven Lab back in 1999. A good many brilliant and productive scientists abd technicians lost their jobs and careers as a result, but Christie and Alec didn't give a crap about them. They just wanted to advance their cause (anti-nuke). Clinton Crony Bill Richardson was DOE secretary at the time and made the decision to bulldoze the HFBR in a typically Clintonesque manner. He did a lot of jawboning about doing an environmental impact study and seeking "consensus", but then trashed the place a few weeks after having a "private meeting" with Christie Brinkley. Given the Clinton Administration proclivities, one can't help but wonder what kind of "payments" or "servives" were rendered during that meeting.

Now the scumbums in New Mexico have elected this waste-of-human-flesh buttwipe as their Governor. May he (and they) rot in hell for the pain and harm he brought upon innocent and honest persons and families.

[MD_Willington_1976]

Stupid is as stupid does huh..You are right about them not knowing how the plant works...they just hear the BS and take it as gospel...

I have always thought that the government should just build a couple TerraWatt powerplants some were out in the middle of some government held land, groom lake etc..

[gridlock]

Opponents of Indian Point are blissfully unaware that even if the plant is shut down, the nuclear material will not move from the site. In fact, the fuel would probably be moved from the extremely secure reactor containment vessel to the much less sturdy and secure "temporary" waste holding facility.

These "temporary" waste holding facilities will be required to store the nuclear fuel until permanent disposal facilities are available at Yucca Mountain, Nevada, or some other location. Unfortunately, it is impossible to open up Yucca Mountain because of opposition from the very people who are so up in arms about nuclear fuel at Indian Point.

Then, if permanent disposal, by some miracle of politics, becomes available, there will be the Battle Royale when the times comes to move the nuclear fuel on public roads or by railroad...

[WaveThatFlag]

How did this guy get to be a successful money manager when he's obviously a communist?

Hey, Bill Gross, perhaps the most well known fixed income manager on the planet was very vocally against the war two months ago. But just because you HAVE a hedge fund doesn't mean you are good at it. I know at least one guy who I am convinced is slightly retarded who runs a hedge fund. And know he is not a numbers savant like Rainman. He's stupid accross the board.

[CaptRon]

I've already heard grumblings about transporting the stuff here in my neck of the woods.

[chimera]

I've already heard grumblings about transporting the stuff here in my neck of the woods.

Which is totally stupid anyway. These jackasses say they don't want nuclear plants around. But then they say they don't want to move nuclear material. So what to do with it? Why, just leave it at the plants. Well, then, why not use it there to do something useful while burning it up in the process? No, can't have that, either. Rotten jerks.

[tcostell]

As an interesting little side note, the people in Cortland Manor (the town where Indian point is located) have been told that if the plant is closed their local (property) taxes will have to increase 75% to maintian the current town and school system budget.

they are a few miles from me and I have a good friend and co-worker who lives there.

[CaptRon]

Yes, but they're wrong with the righeousness of the ignorant.