SOURCE: Milken Institute

October 22, 2007 09:00 ET

Tax Breaks, Fast-Track Regulation and Climate Change Could Open New Era for Nuclear Power, According to Milken Institute Review

LOS ANGELES, CA--(Marketwire - October 22, 2007) - Nuclear power has all but died in the United States, but according to Paul Joskow, director of the Center for Energy and Environmental Policy Research at MIT, the nuclear industry has a chance to become part of the solution for global warming.

"With natural gas prices in the stratosphere and utilities facing the prospect of caps on carbon dioxide emissions from coal and gas-fired plants, the owners of existing nuclear plants are lining up to apply for 20-year extensions of their operating permits," he writes.

Other highlights from the new Review:

--  Leonard Burman, director of the Tax Policy Center in Washington,
    explores the unintended consequences of a tax designed to collect modest
    amounts of payments from the handful of millionaires who paid none.
--  Georgina Santos, a transportation economist at Oxford University,
    takes a close look at initiatives in London and Singapore to use market
    forces to tame traffic congestion.  Congestion pricing works, she
    concludes.
--  Greg Rushford, the editor of an online newsletter that analyzes the
    politics of international trade and finance, recounts the story of trade
    laws gone wrong -- and how some Louisiana shrimp fisherman who can't
    compete with their counterparts in Vietnam and Thailand, have landed on
    their feet.
--  Diana Farrell and Susan Lund of the McKinsey Global Institute, weigh
    the progress of Latin American development through the lens of "financial
    depth."
--  Philip Martin, an economist at the University of California (Davis),
    sees the rapidly changing wine industry as a metaphor for the risks and
    rewards of globalization.
--  Allan Shampine and Hal Sider, economists at Lexecon, the Chicago-based
    consultants, examine the impact of the fiber-optic cable bubble of the late
    1990s.
--  Ross DeVol and Armen Bedroussian of the Milken Institute estimate the
    incredible economic cost of chronic disease in America.
    

The Milken Institute Review is sent quarterly to the world's leading business and financial executives, senior policy makers and journalists. Its editor is Peter Passell, former economics columnist for The New York Times.

About the Milken Institute: The Milken Institute is a nonprofit, independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations around the world. (www.milkeninstitute.org)

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