PARALLELS BETWEEN THE INTRODUCTION OF NUCLEAR POWER AND GENETIC ENGINEERING |
Home EU Enlargement Watch Export Credit Agencies Euratom Loans Nuclear Power Electricity K2R4 Market Concentration European Commission's Nuclear Package You can download the full report 'Parallels Between the Introduction of Nuclear Power and Genetic Engineering' in word format here If you need to download the Acrobat PDF Reader, you can do so here |
In the 1950's the public were promised that the new nuclear technology would provide them with cheap, safe power throughout their lifetimes. As the twentieth century has drawn to a close nuclear power is a discredited and rejected technology, but the public are again being promised a new miracle technology in the form of genetically engineered crops that will feed the world in the twenty-first century. Promises, Promises The genetic engineering industry has also promised huge profits and rapid growth. However, a recent report by financial analysts at Deutsche Bank suggests that this success may be short-lived. The report, entitled “GMOs are dead”, explores the financial consequences of consumer rejection of GE food products. The report analysed the “value chain” on which the economics of genetically engineered crops is based and concluded, “in order for GMO crops to be viable they must be sold at a price that is as good or better than non-GMO options”. Instead the Deutsche reported: We see a two-tier grain market developing with GMO (genetically modified organisms) corn and soybeans at a discount to non-GMO. Very bad news for farmers... If a two-tier market takes hold, we see price premiums for high-value-added GMO seed collapsing. Very bad news for seed companies. If GMO seeds become a liability rather than a driver of growth, we see growth rates and valuations coming down. Very bad news for seed stocks. Interestingly the authors of the report compare the current misfortunes of the GE industry with the beleaguered nuclear industry: Are GMOs safe, good for the environment, and necessary to support the inevitable growth in the world's population? Yes, but the same arguments can be made for advancing nuclear power. Despite the support of the scientific community, it is unlikely that we will add any new nuclear power plants any time soon. Global Benefits? "the consequences for food security and nutrition could be severe for many millions of people in developing countries…Careless policy costs jobs – and lives." But the major development agencies have pointed out that world hunger is not caused by an absolute shortage of food but by conditions such as war, civil unrest and inequitable distribution. A report prepared by Christian Aid earlier this year argued that GM crops are 'irrelevant' to ending world hunger, will concentrate power in too few hands and will strip small farmers of their independence: 'GM crops are . . . creating classic preconditions for hunger and famine. A food supply based on too few varieties of patented crops are the worst option for food security. More dependence and marginalisation loom for the poorest.' Both world hunger and global warming are complex problems and their solutions will involve political, social and economic changes – principally in the developed world, nuclear power and genetic engineering have the apparent advantages of being one-off technical fixes which will sort out these problems whilst maintaining the status quo. At the same time this role then provides the ultimate justification for the acceptance of these technologies in the developed world. |