Business
GUARDIAN Warned of Fizzled Fission Three Years Ago
December 17, 2010 
Thursday’s story by Rocky Barker in the DAILY PAPER about an alleged scam involving the SEC investigation of Alternative Energy’s proposed nuclear power plant near Payette didn’t really surprise us.
The GUARDIAN, along with readers and writer Jo Kirkpatrick warned folks of the “smooth operator” in this NUKE STORY. Our hat is off to the Snake River Alliance, the Securities Exchange Commission Investigators, and the Idaho Finance investigators on this one. Looks like fission fizzled.
Just like some of the local government efforts of late, it appears this deal was based on massive public relations and press release campaigns rather than substance. One of the flaks has already fallen victim to his own prose, jumped ship and is now stuck with what he professes to be worthless stock. It is just a matter of time before the other former newsies see the light and leave Alternative Energy as well.
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Comments & Discussion
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Dec 18, 2010, 3:01 pm
My only regret here is that when someone comes forward with a meaningful and sincere effort to develop nuclear power, which we actually need, the hue and cry will be “remember Alternative Energy”!!
Dec 19, 2010, 6:36 pm
I have absolutely no regrets. In todays paper was an article about the massive amount of power generated by so called “alternative” energy. So much power, ID Power would like to not have to pay them under the PURPA rules.
Idaho does love to fall for a good scam.
Dec 20, 2010, 1:55 am
That’s really not a surprise considering all the corruption in our nation. But it is hugely disappointing that such a futuristic power source, which we invented/perfected, is not used by us except in the navy. Instead we breath smog and make Arabs rich for fear of a radiation leak… Our policy on this topic is deeply effected by Hollywood stars, and a foot doctor…
As far as the scammers, they will get what kind of punishment? I do think we could learn a lot from China as far as what to do with someone running a scam.
America is in fail mode.
Dec 20, 2010, 10:47 pm
The deal on nuclear power is it costs around $0.13/kwh to produce on a national average cost. The producer has to sell it for more than it costs to produce to stay in business.. perhaps$0.18/kwh to provide a ROI to investors.
Idaho power makes a profit and sells to its customers at around $0.06/kwh. People are not going to step up and pay an additional average monthy cost of $120/month more than the $60/month they now pay for 1,000kwh/month.
It is not yet cheap enough to get beyond fantasy for most people.
Dec 22, 2010, 4:36 pm
Good on ya Guardian, but my biggest kudos go to the good folks at the Snake River Alliance who also called an early BS on Gillispie and crew and dogged it every step. It was just a scam keeping him in Maseratis.
And it wasn’t only shareholders duped. Our political leaders from the Governor to the County Commissioners displayed no skepticism on Gillispie’s claims when doing their jobs for the people of Idaho. Just the week before the complaint one snarky commissioner yelled at the SRA: “Look here,” Rawlings lectured. “Our governor is in favor of this. Every mayor in our county is in favor of this. Our chamber of commerce is in favor of this. I’m offended that there’s not one positive thing that you and your group has contributed to this discussion.”
When Gillispie told commissioners, “This county will have more money than you’ll know what to do with,” many of the commissioners beamed.
http://www.43sb.com/?q=node/5742
The guy sounded just like Professor Harold Hill and our pols lapped it up like a thirsty hound dog.
EDITOR NOTE–We often joke that if a bordello were to promise “jobs” and boost the economy, the politicos would battle to cut the ribbon.
Dec 22, 2010, 8:19 pm
A bordello is a very safe investment. “The oldest profession” has proven its business-soundness and value since prehistoric times.
Dec 22, 2010, 11:19 pm
Idaho Power sells electricity to residential customers at a price anyone paying for nuke power would only dream about. Nuke power is affordable only with massive government subsidies. The Navy can afford it because they are funded 100% by subsidies.
Dec 24, 2010, 3:31 pm
Just dont build Nuclear Plants on top of Idaho’s huge underground aquifers, you may end up with a mess that’s bigger than anyone wants