WEDNESDAY, OCTOBER 31, 1979
- 13
PROBE ON BUILDING NUCLEAR POWER PLANT SHOULD BE RE-OPENED *****
THE HON. S. L. CHEN SUGGESTED TO THE GOVERNMENT THAT IT SHOULD RE-OPEN THE INVESTIGATION INTO THE POSSIBILITY OF BUILDING A NUCLEAR POWER STATION FOR HONG KONG.
HE WAS COMMENTING ON HONG KONG'S ENERGY SUPPLY IN RESPONSE TO THE GOVERNOR'S REVIEW OF THE ECONOMY IN HIS ANNUAL ADDRESS TO THE LEGISLATIVE COUNCIL.
+WHILE WE ANTICIPATE THAT FROM 1982 COAL WILL BE INCREASINGLY USED FOR THE PRODUCTION OF ELECTRICAL ENERGY, THUS PROGRESSIVELY REDUCING OUR RELIANCE ON OIL, A LONGER TERM SOLUTION TO THE VITAL QUESTION OF ENERGY HAS YET TO BE FOUND, HE SAID.
HE RECALLED THAT IN 1975, UNDER THE AUSPICES OF THE GOVERNMENT AND THE TWO POWER COMPANIES, À STUDY WAS MADE ON THE POSSIBILITY OF CONSTRUCTING A NUCLEAR POWER STATION,
WITH THE ASSISTANCE OF THE INTERNATIONAL ATOMIC ENERGY AGENCY IN VIENNA, A REPORT ON THE STUDY WAS COMPLETED AND PRESENTED TO THE GOVERNMENT IN 1977 BUT THE MATTER WAS PUT IN ABEYANCE PARTLY DUE TO ENVIRONMENTAL CONSIDERATION AND PARTLY BECAUSE IT WAS CONSIDERED THAT THE ECONOMIC SIZE OF COMMERCIALLY AVAILABLE REACTORS WOULD HAVE A CAPACITY IN EXCESS OF HONG KONG'S NEED.
HOWEVER, IN THE LIGHT OF THE EXCELLENT RELATIONS BETWEEN CHINA AND HONG KONG AND CHINA'S NEW ECONOMIC POLICIES, IT MAY BE POSSIBLE TO BUILD A PLANT TO SUPPLY BOTH GUANGDONG AND HONG KONG. THE COMBINED DEMAND OF THE TWO SYSTEMS WOULD BE SUCH AS TO MAKE THE SCHEME PRACTICABLE, HE SAID.
MR. CHEN BELIEVED THAT, WITH GOODWILL AND CO-OPERATION, SUCH A SCHEME IS NOT BEYOND THE REALMS OF REALITY AND WOULD PROVIDE OPPORTUNITIES FOR MUCH OF THE MONEY IN HONG KONG THAT IS AT PRESENT BEING CHANNELLED INTO FUELLING THE ALREADY OVER-HEATED PROPERTY CASINO..
HE POINTED OUT THE SERIOUSNESS OF THE SITUATION. BECAUSE WE HAVE TO RELY ALMOST ENTIRELY ON OIL FOR OUR SUPPLY OF ENERGY, THE PROBLEMS ARISING FROM THE RECENT UNCERTAINTY OF OIL SUPPLY HAVE BEEN MORE ACUTE FOR US THAN FOR MOST OTHER COUNTRIES. HAD THE OIL PRICE IN 1978 BEEN AT TODAY'S PRICE, THAT IS ABOUT $700 INSTEAD OF $370 PER METRIC TON, OUR TRADE GAP THAT YEAR WOULD HAVE BEEN WIDER BY A WHOPPING $1 300 MILLION+.
HE SAID HE HAS REASON TO SUSPECT THAT HONG KONG IS NOT GETTING A FAIR SHARE OF THE AVAILABLE FUEL OIL AND SO HAS NO OPTION BUT TO MAKE UP THE SHORTFALL BY BUYING FROM THE SPOT MARKET AT A MUCH HIGHER PRICE.
+THE GOVERNMENT MAY WISH TO INVESTIGATE AND CONSIDER WHAT MEASURES, IF ANY, SHOULD BE TAKEN TO SAFEGUARD OUR INTERESTS, + HE SAID.
/ON THE