Demandbase Connect

May 1, 2009

Birth Pangs of the Nuclear Renaissance

Pages: 123

The much-ballyhooed U.S. nuclear renaissance, with a few exceptions, is running late, thanks to the usual Washington bureaucratic quagmire plus the added risk resulting from crumbling financial markets. The future doesn’t look much brighter. The poor outlook for Yucca Mountain and the new administration’s general indifference to nuclear power have made a rebirth of the nuclear industry an even higher-risk proposition than before.

As the nuclear industry enters its fifth year of the much-heralded but still-awaited "nuclear renaissance," a certain industry ennui appears to have settled in. That was apparent at the Platts 5th Annual Nuclear Energy Conference in February during two days characterized by lots of sun and wind gusts of up to 50 miles per hour. Little energy was captured. There was much treading of policy water.

The local weather went unremarked-upon during the event, but there was plenty of discussion about the inability of wind or sun to supplant the very important baseload characteristics of nuclear power 24/7/365. Much ruminating focused on the uncertain political and regulatory environment for nuclear, despite the clear business and social cases that the industry believes are its underpinnings.

The nuclear industry folks seem to have adopted the "stiff upper lip" characteristic of the British in the latter days of their empire. The conference exuded the industry’s long-standing confidence that the resurgence of atomic power is so desirable — and therefore inevitable (see sidebar). No other technology responds so directly to the fears of global warming. Much has been invested; much more will come. Keep the faith, attendees seemed to say. But there was an undercurrent of doubt.

Pages: 123

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