Whoops At Satsop

by Jean OKeeffe Macro Abundance Art

Title

Whoops At Satsop

Artist

Jean OKeeffe Macro Abundance Art

Medium

Digital Art - Photo Digital Art

Description

Near Satsop, Washington sits this enormous, grey monument. It's an unfinished and abandoned cooling tower for a nuclear energy plant that never went into operation. Two such cooling towers sit side by side in the Washington forested landscape, visible from miles away. They are permanent reminders of a very significant whoops.
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Washington Public Power Supply System (WPPSS) was created by the Washington State legislature in1957. The agency endeavored to build five nuclear power plants, one of them near Satsop, WA in 1978. Several factors combined to ruin construction schedules and drive costs far above the original estimates.
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In January 1982, the WPPSS board stopped construction at Satsop, and since this and other plants generated no power and brought in no money, they were forced to default on $2.25 billion in bonds, the largest municipal bond default in U.S. history.
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The agency acronym, pronounced "whoops," came to represent the still negative public opinion since the state taxpayers had to pay back much of the defaulted bond. Whoops indeed.

Whoops At Satsop
by Jean O'Keeffe
Macro Abundance Art
(c) 2014 All Rights Reserved 5:502

Uploaded

April 20th, 2014

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