LONDON -- American utility companies are returning to the idea of building nuclear power stations. They believe they can get approval for licenses to start doing so by 2007, and they also believe, despite bitter past experience, that safety problems can finally be solved and the economics can be justified.

This is bold thinking, but is it realistic? All over the world nuclear power programs have long been in limbo for years and a huge political resistance has developed. Although accidents have been rare and performance generally reliable, America's Three Mile Island incident in 1979 and, even more, the Soviet Union's Chernobyl disaster in 1986 have left an indelible imprint of fear that no amount of statistics showing years of safe operation seem able eradicate.

An even deeper fear focuses on the handling of radioactive waste. The public remains convinced that the super-toxic material left over from nuclear electricity generation cannot be transported, stored or disposed of safely.