Shifting liabilities from corporations to the public coffer is what companies do. You'll often hear this described as "privatizing profits and socializing losses". Let me introduce you to the Price-Anderson Act of 1957 [1]. It's been repeatedly extended, most recently with the ADVANCE Act [2]. This limits liability for the nuclear power industry in a whole range of ways:
- It removes jurisdiction from state courts to the federal court. In recent weeks, the part of "states' rights" is doing similar to stop states regulating prediction markets, as an aside [3];
- All actions are consolidated into a single claim;
- That claim has an inflation-adjusted absolute limit, which is somewhere around $500 million (I'm not sure of the exact 2026 figure);
- Any damages beyond that are partially sharead by the industry and an industry self-funded insurance program;
- The industry as a whole has a total liability limit, also inflation-adjusted. I believe this is around $10 billion.
For context, the clean up from Fukushima is likely to take a century and the cost may well exceed $1 trillion for a single incident [4]. So if this happened in the US, the government would be on the hook for almost all of it.
So I have two points here:
1. If you oppose any effort to shift liability from AI companies to the government (as I do) with legislation such as this, how do you feel about the nuclear industry doing the exact same thing? and
2. Minor point but I noticed in searching for the latest details, Gemini made factual errors, stating that "the Act is set to expire in 2025" when it was extended in 2024 until 2045. Always check AI's work, people.
[1]: https://en.wikipedia.org/wiki/Price%E2%80%93Anderson_Nuclear...
[2]: https://en.wikipedia.org/wiki/ADVANCE_Act
[3]: https://www.pbs.org/newshour/politics/federal-government-sue...
[4]: https://cleantechnica.com/2019/04/16/fukushimas-final-costs-...
This is what government should be doing. Figure out how to do something safely, make that a regulation, then shield companies from liability as long as they follow that regulation. In practice you won't extract trillions of dollars from most companies anyways, because they'll go bankrupt long before they manage to pay all that back.