Public should not fund nuclear plant

The Iowa Legislature is working on a bill that would allow MidAmerican Energy to collect money from its customers for the possibility of a new nuclear generator facility. If the money is collected and the plant is not built, MidAmerican keeps the money.

Why not have MidAmerican shareholders finance the project? If the plant is built, won't the share value increase from it? If it's built, rates will definitely increase because of higher generation costs. The company should ask Warren Buffett of Berkshire-Hathaway to finance the project. We have the technology for clean burning, and the operational cost would be economical. Times are hard enough without the burden of financing a company's facility. That is what banks, investment firms and billionaires are for.

Unless a politician expects the plant to be possibly built on his or her area of representation or there is an expectation of campaign funds, I can't understand the support for such a proposal.

Ronald Johnson

Iowa City