Nuclear Implosions tells the story of a state government agency’s failed attempt in the 1970s to build five large nuclear power stations in the Pacific Northwest of the United States. Facing huge cost overruns and long construction delays, the agency completed only one plant and found itself unable to repay a $2.25 billion of municipal bonds. These projects reflect the tangled relationships between American nuclear power and nuclear weaponry, the emerging era of limits, and the nation’s troubled attempts to resolve conflicts through complex legal cases.
I have long been interested in the failure of the Washington Public Power Supply System (WPPSS) to build of nuclear power plants in my home state that led to the largest municipal bond default in U.S. history (I still remember the headline that announced "WPPSS goes Whoops" when the default was announced in 1983). In this book Daniel Pope carefully untangle the long and at times complicated history of this effort.
In the 1960s and early 70s nuclear power was viewed as the future supplier of electricity to the nation, plants were proposed and built in many locations. In the Pacific Northwest where hydroelectric power supplies most of the region's electricity added nuclear power represented an unique challenge. Anticipating a future electricity shortfall 3 nuclear plants were commissioned in the early 70s and 2 more were added to the project a few years later, of these 5 plants only 1 was ever finished and brought online. The rest became entangled in delays, funding issues and poor oversight by an agency that never questioned the basic assumptions behind the project and became determined to finish it come hell or high water.
Another issue was the belief that bigger plants could be built quickly by scaling up without consideration of the addition challenges of building a larger version of the existing plants. In the end WPPSS simply overreached, tried to do too much too fast and failed to properly understand the full scope of what was needed for such an undertaking.
Pope does a great job of explaining how WPPSS failed and navigating the legal fallout that followed as bond holders and other investors tried to recoup their losses.