A decade after Fukushima, nuclear power is getting a fresh look for 3 reasons: the urgency of meeting ambitious climate goals, significant advances in nuclear technology, and national security concerns.
I have a deep dive essay in @ForeignPolicy. See this thread for highlights🧵
First, as the urgency to combat the climate crisis grows, there is growing recognition that the pathway to net-zero emissions will be faster, easier, and cheaper if nuclear energy is part of the mix of solutions.
@Grimezsz got it right re: Diablo Canyon in California: “This is crisis mode, and we should be using all the tools that we have.”
In Washington, nuclear power investment is one of few areas of bipartisan agreement at a time when a promising slate of nuclear technology companies could reduce costs, waste, and safety concerns.
Globally, the need for nuclear power is even greater.
Nuclear power is the world’s second-largest source of zero-carbon energy after hydropower. In its net-zero 2050 roadmap, @IEA projects nuclear power generation globally will nearly double. Two-thirds of new nuclear capacity will be built in emerging markets & developing economies
The second reason for a brighter nuclear outlook is technological advancements that reduce costs, waste, and safety concerns. There is a range of advanced reactor designs for fission under development. And while fusion is still experimental, real progress is being made.
The third reason is nat'l security. If the US exits the nuclear power sector—deliberately or otherwise—it will be Beijing & Moscow building the world's projects & setting future norms for nuclear commerce & safety, w potentially negative consequences for nonproliferation efforts.
To be clear, nuclear power is by no means a silver bullet and brings with it significant challenges and risks. The Q to ask, however, is whether it is easier to address those risks & challenges than to try to achieve net-zero without nuclear in the mix.
Electricity use will grow dramatically as we decarbonize the energy system. Including zero-C nuclear as part of a diverse mix of electricity sources will lower total costs, improve reliability & resilience, & help achieve the rapid decarbonization the world so urgently needs.
These are just a few highlights from the piece, but please read and share the whole thing. If climate action is to match climate ambition, then support for nuclear power should be much higher.
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At the end of a busy day, a few thoughts on today’s SPR release: 🧵 #OOTT
Effectiveness should be measured not by price response today but what it would have been absent the “verbal intervention” of the past few weeks. Expectations of a release contributed (tho not entirely responsible) to drop of $8/b since Oct & helped stem price run up.
It’s notable because it is not an emergency response to a severe supply disruption, as required for a major sale, but (as an exchange) an effort to tame higher oil price expectations amidst deep concerns about inflation.
Just back from @MunSecConf, where @ColumbiaUEnergy organized a side event on energy’s use as a geopolitical weapon, and I moderated a breakfast discussion on #NordStream2. Here are a few reflections from this year’s #MSC2019 & intersection with energy/climate. (Thread)
At a broad level, the dominant theme was concern among participants about the perception that America was retreating from the global stage and its leadership role in the rules-based international order.
It was notable that the US sent its largest contingent ever of members of Congress from both sides of the aisle, perceived by many as an effort to send a signal that the USG is comprised of more than just the White House.
THREAD: We wrapped @Davos#WEF19 today & I want to share my thoughts on the mood this year. Discussions focused on geopolitical & economic risks to the energy sector, #climatechange, optimism abt the pace & promise of technological innovation & outlook for clean energy.
Compared to 2018, the economic mood @Davos was more grim & subdued. Ongoing US-China trade dispute weighed heavily.. Many expect some resolution before March 2 deadline, but thorny issues in relationship will persist & China digging in for long-term. Brexit added to worries.
Last year’s lamenting by world leaders that the U.S. had withdrawn from the Paris climate agreement were replaced w/ deep concern that the U.S. has exited the world stage completely.
A few thoughts on the energy and climate mood in #Davos2018 this year as my train rolls away through the gorgeous Swiss countryside. Three big themes around climate, energy markets, technology.
The most striking thing about the mood in Davos this year is the tremendous optimism business leaders have about the global economic outlook. That's bullish for energy demand and prices (not great for GHG emissions btw)
Many of the most prominent world leaders noted the threat of climate change as among the top challenges the world faces today. Modi placed it first, along with terrorism & globalization backlash. Macron pledged to shut down coal plants by 2021.