Word: aec
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Dates: during 1950-1959
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...which the Manhattan Project was launched to build the Abomb. Later Murphree supervised the design of a heavy-water plant in British Columbia and served as chairman of a group that helped develop centrifugal separation of uranium isotopes. Since World War II he has been a member of the AEC's general advisory committee...
...URANIUM SOURCE being developed by Ohio Oil Co. is lignite, or brown coal. The AEC has agreed to buy the uranium concentrate if recovering techniques being tested prove economical. The lignite deposits in North and South Dakotas bear a "significant" amount of uranium, says the AEC...
Last January insurance companies, spurred on by the AEC, formed three syndicates to deal with the problem. The first syndicate offered each company $50 million fire and property insurance on its own facilities. The second offered $50 million public liability coverage on each reactor. The third tendered a $16 million policy for either liability or property damage. Altogether, this was more than double the largest individual liability coverage ever written...
...enough. Said an official AEC report: "This amount will not be deemed adequate by the atomic energy industry to cover the conceivable catastrophe." The insurance men themselves agreed. Last summer ten top insurance executives reported to the AEC: "The catastrophic potential, although remote, is more serious than anything now known in industry. [It] may be beyond the capacity of the insurance industry...
...insurance industry has no guides to go by, no actuarial tables of experience to show possible losses or reasonable premiums. Actually, the AEC has operated atomic reactors for a total of 700,000 hours without a serious accident. In a report to the Atomic Industrial Forum, a group of Columbia University experts also reassured businessmen that "a reactor is not a bomb." On the other hand, it cautioned that "the risk is such that the potential liability cannot be covered by private insurance alone...