Tuesday, September 30, 2008

Nuclear Deal is good for us

The nuclear deal is all but done - today we signed teh cooperation agreement with the French. The US senate is expected to pass approve the agreement. We are expecting a similar agreement with Russia. Many aspects of this agreement are pleasing.
First we got a prime minister who stood firmly by his belief. Who in the political history of India has gone so far as to stake its government for an issue, a belief. He could have easily gave a loud speech and not pressed for the confidence motion. The zeal with which he pursued the deal to implementation is indeed commendable. He is probably my first hero from the political arena.

Nuclear energy is a must, no doubts about it. And we do not have the means to go alone, we dont have enough uranium resources, our reactors are running at 30% load factor, for the lack of nuclear fuel. The world community will not trade with us cause we are not signatory of NPT. The ideal scenario would have been the dismantling of the NPT, total universal nuclear disarmament. But this is not going to happen. So given that we have to deal with the current nuclear order, negotiate with NSG/US.

Now when you negotiate from a weaker position, we need the nuclear deal for our energy security, the world at large benefits financially and they can live without Indian investment in buying nuclear power plants. But we cant, with our population and scarce energy resources, nuclear energy is crucial for our energy security and thereby economic security.

The other argument is, we will be dependent on the US and other countries, they might stop fuel supplies. It is true to a certain extent but here aren't we banking on our individual thorium cycle to have matured so that we dont become totally dependent on uranium cycle. Also our breeder program is expected to have made headway till then. What if our research fails, we dont make any breakthrough, well then deal or no deal we are doomed. The world at large will run out of fossil fuels and progressively it is going to get very costly. The world will have to turn to nuclear power. ANd its better for us to be within the fold than be outside.

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