Word: reactor
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Dates: during 1950-1959
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Playing and working in Phoenix, Ariz., energetic Inventor Lee de Forest, 82, one of radio's and TV's most illustrious ancestors predicted: 1) the world will run out of fissionable power-producing uranium within several hundred years; 2) a successful fusion reactor, i.e., a tamed H-bomb type of power generator, will never be achieved; 3) it matters not, because solar energy will eventually outshine both fission and fusion sources as man's chief power supply. These,matters settled, Dr. de Forest sounded off on the horrors of present-day radio and TV advertising. "I wish...
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...
...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...
...face of such unknowns, only one U.S. company-Consolidated Edison-has so far announced its willingness to construct and operate a reactor without waiting for the insurance question to be settled. The rest were waiting last week for a solution...
...went to Geneva as a member of the U.S. delegation to the atoms-for-peace conference last summer, is president of Nuclear Power Group, Inc., a utility-backed atomic research organization that is contributing $15 million in research and development to Commonwealth Edison's 180,000-kw. reactor outside Chicago. Says he: "The power industry is in a terrifically dynamic phase...