A key energy industry nervously awaits its 'rebirth'

One of the biggest question marks in the nation’s energy and climate policy is the future of nuclear power. In the past, the United States has made a major commitment to it. The U.S. nuclear power industry is the world’s largest. The nation’s 104 operating plants produce 20 percent of its electricity, making them, by far, the largest source of electricity that does not result in greenhouse gas emissions.

If a cap and a price are imposed on carbon dioxide emissions, these plants could be among the biggest economic winners in the vast economic shifts that would be created by greenhouse gas regulations.

But the future of the industry may still hang precariously on decisions made by the Obama administration, in which multiple issues remain unsettled. While former President George W. Bush joined the industry’s chorus proclaiming that a “nuclear renaissance” is under way, President Obama has approached the issue with his lawyer’s penchant for nuance, caution and opacity as he listens to conflicting voices within his administration.

“The president needs to show his cards on nuclear energy,” said energy consultant Joseph Stanislaw, a Duke University professor. “He cannot keep this industry, which must make investments with a 50-year or longer horizon, in limbo for much longer.”

To be sure, the “limbo” he refers to isn’t just a policy matter. The industry faces political, legal and technological issues in the disposal of spent nuclear fuel. The economics of nuclear power, including the future costs of new plants, appear to be the biggest current hurdle.

New York Times