Rich, Richer

Dear Lord,

Actually, I feel dumb, dumber. In my Honesty prayer I wondered whether Entergy is hiding profits in its Cayman Island subsidiaries.

What I really should have wondered is whether Entergy is hiding debt in its Cayman Island subsidiaries. The public recently learned that the decontamination fund is nowhere near as robust as Entergy claimed in testimony to the Vermont State Nuclear Advisory Panel only a few months ago. What if Entergy's assets are nowhere near what they claim them to be?

One way for owners of a nuclear power plant to get rich is to avoid taxes. But one way to get really rich is hide corporate debt during a relicensing application. In that way, no one would know that insufficient money is at the ready to clean up any disasters created by pushing an aging plant well beyond its limit.

Of course, Lord, I don't know that Entergy's assurances about its financial health are false. Maybe Entergy is as rich as it claims to be in its relicensing application. Similarly, maybe it's as poor as it claims to be on its tax returns. Maybe Entergy isn't hiding anything in those Cayman Island subsidiaries except for maybe some beach umbrellas. Still, I wonder….

Fake-Rob