Sunday, October 08, 2006

Buffet to Iran - Come Get Your Nuclear Fuel

I can't tell if this is totally brilliant or totally stupid. Warren Buffet promises Iran to be supplier of last resort for nuclear fuel.

As tensions continue to creep higher between the United States and Iran concerning access to nuclear power, one thing is becoming very clear, and that’ that it will be very difficult to impede Iran’s efforts diplomatically with or without the United Nations. This is because the Nuclear Nonproliferation Treaty guarantees all members in good standing the right to produce their own nuclear reactor. However, an ominous cloud still remains intact: no matter how you slice it, the same technology that can generate fuel for a nuclear reactor can also produce the core of a nuclear explosive.

A new twist has been added to this potentially dangerous situation as the second richest man on the planet, Warren Buffet, who is also known for his philanthropy, recently pledged $50 million for a fuel bank. The bank would be managed by the International Atomic Energy Agency to be a supplier of last resort for any nation that elects not to endeavor into the risky and dangerous reactor fuel business and gets the agency’s seal of approval.

Currently, nations argue that if they do not possess their own fuel facilities, they can easily be coerced or blackmailed by foreign suppliers with whom they may have political unrest. Despite Iran clearly being exposed in lies about their program, any suggestion about a nuclear cartel still resounds loudly in the nuclear have-nots corner.

Warren Buffet who has put in a lot of work for the nonprofit organization Nuclear Threat Initiative, which is headed by former longtime Senator Sam Nunn indicated that his $50 million would not be turned over unless governments around the globe come up with $100 million of their own either in cash or fuel.
So despite Iranian lies there are still well meaning people who want to give Iran nuclear fuel. What are these fools thinking? And Sam Nunn? He ought to know better.


Duchess Of Austin said...

Maybe Buffet is going back to the old cold war MAD strategy.....and I'm not so sure that it isn't a bad idea. Sort of along the lines of the gun control argument that an armed neighbor is a polite one?

In other words, if they all have nukes, will they take the risk and actually launch at each other?

Maybe global mutually assured destruction is the way to go. If everybody has nukes, then nobody will use them for fear of retaliation....

One more thing....I was reading something where the writer made the point that most of these guys have never witnessed an atomic explosion in all it's glory...they've only seen movies, which, although they give a representation of the destructive power, it's like looking at a picture of the Statue of Liberty, for instance, and then seeing the monument in person. The picture doesn't really give you an idea of the actual SCALE of it, in comparison with your own small self. My point? Well, this writer said what ought to be done is having an atomic bomb set off at 50,000 feet above Tehran, to give the people an idea of what an atomic explosion can REALLY do.

shahar said...

the goal is to remove any excuse the Iranians or any future nonnuc state might have to enrich their own. it's yet another example of citizens taking history into their own hands because govts are either so inept or in this case so unable to trust each other that they are unable to act.

- or -

a naked evil genious attempt to rule the world by being the energy supplier of last resort to an increasingly oil starved and nuclear dependant 2nd and 3rd world. Just look out 20 years and try to imagine some poindexter in Omaha having total control over the world's energy supply.

linearthinker said...

I can see the mullahs taking Buffet's free fuel while continuing their enrichment.

Don't trust Buffet.

Too bad he's not from Topeka. He diminishs Omaha, an otherwise charming city.

M. Simon said...

My family had connections with the Blumkin family (Nebraska Furniture) one of Buffet's early investments.

These day Buffet depends on distress sales of businesses that have to sell due to inheritance taxes. Now you know why the great Buffett is against inherited wealth.

I never figured out how guys like Buffett and Soros ever became anti-capitalists. Perhaps they are projecting their behavior on all businesses.

linearthinker said...

Warren plays on both sides of the street. He also sells insurance to family owned companies enabling them to avoid going to distress sales. And then presents himself as a public minded soul of the Democratic party. He's a son-of-a-bitch.

I used to wear Hathaway shirts when I could find them on sale. They had cool ads, with that dude with the eyepatch.

I hope your family wasn't screwed.

linearthinker said...

IAEA to administer the "bank"?

Buffet would be above the fray, but his role is just providing seed money.

I feel a song coming on.

Where have all the fuel rods gone?
Long time passing.
Where have all the fuel rods gone?
Long time ago.
Where have all the fuel rods gone?
Gone for warheads, every one.

When will they ever learn?
Ohhhhh, when will they ever learn?

M. Simon said...


The problem with everyone having nukes is: what happens when some tribal ruler takes umberage at some outrage done by another tribalist? Thry the Iran - Iraq War with nukes.


We never had enough money to get involved. Fortunate I guess.

Yeah. The IAEA in charge. That is a confidence builder.