It’s an important question because although the dump’s profits flow to its owner, Dallas billionaire Harold Simmons, the state and federal governments will eventually own the dump and its millions of cubic feet of radioactive waste. In other words, the taxpayers could be on the hook for a lot of dough. What’s to guarantee that Waste Control won’t take the profits and run? What if the dump leaks? What if the company goes belly-up? That’s where, in theory, financial assurance comes in. Typically, high-risk facilities like those for hazardous and radioactive waste are secured with a bond, letter of credit or insurance. But in November 2011, TCEQ allowed Waste Control to use 12 million shares of Titanium Metals Corp., another Simmons company, to provide financial assurance for the dump. texasobserver.org/problems-with-a-west-texas-radioactive-waste-dump-get-buried/
Posted on: Sat, 06 Jul 2013 03:41:31 +0000
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