The country was successful and making a lot of money. Some sources believe that Ferdinand Marcos stole at least $10 Billions US Dollars …show more content…
He ordered his technocrats to look at the nuclear power plant as an alternative. The first thing they discovered was after a one time cost of contructing a nuclear power plant. The main fuel would cost only an average of $7.50 equivalent to a barrel of oil. This is the main reason Ferdinand Marcos decided to build a Nuclear Power Plant. This is true because he should build and build many projects because its not his money to spend. Its the taxpayers. One of the most successful projects he has done is the billion dollar Bataan Nuclear Power Plant. According to the government they paid $650 Million Dollars to Westinghouse, but this project was abandoned. The Yum Kippur war in the early seventies gave the Organization of Petroleum Exporting Countries the Opportunity to increase prices of crude. Ferdinand Marcos must have been emboldened to go nuclear realizing that industrialized countries such as Taiwan, South Korea and Japan were saving money on crude by contructing nuclear power plants. Records also show that there were other much bigger costs that raised the total of $1.1 Billion Dollars. $387 Million Dollars was assingned for escalation and interest. $392 Million Dollars for reimbursable costs and civil works undertaken by Mapco itself. $55 Million Dollars for additional safety features and equipment resulting from the studies of the Pun Commision. Thus the total cost of the turkey project soared up to $1.1 Billion