, Columnist
A Nuclear Lesson For Big Oil (And Vice Versa)
Mega-projects aren't always the best way to secure energy supply.
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It is a reasonable bet that the $24 billion Hinkley Point C nuclear power project in the U.K., due online in 2025, will neither be ready by 2025 nor cost just $24 billion. Indeed, it's so reasonable that, as fellow Gadfly Chris Bryant lays out here, the stock market appears to be making that very same bet.
Leave aside the conspiracy theories about London buttering up Paris and Beijing by approving the project and focus on the ostensible reason for doing it: maintaining security of energy supply.