Brian Kehm, Financial Research Associate, of The Oxford Club, opines that nuclear energy gets a bad rep. But is it justified? When you ask most folks their opinion on nuclear, they will mention Three Mile Island, Chernobyl or Fukushima Daiichi. The memories of these disasters, and the negative press that followed, have pushed many to think nuclear power is lousy. That it is unsafe. But let us step back and take a look at the facts. It will let us see the opportunity ahead.
First off, nuclear disasters are rare. The worst on record was Chernobyl in 1986. The World Health Organization released a 600-page report on the disaster. Based on the work of hundreds of scientists, economists and health experts, it showed the total number of radiation-related deaths is likely to be around 4,000, but actually only the fireman died who tried to put out the nuclear fires in the core. See other IAEA reports. In the other nuclear incidents, zero people were killed or irradiated.
But next he compared these incidents to deaths from our main energy source today, fossil fuels. According to the WHO, millions of people die from the air pollution caused by fossil fuels each year. The long-term effects on our environment could be even worse. He does not say this because he is pro-nuclear or anti-coal, he mentions these stats only because it is clear nuclear energy is both cleaner and safer than many people believe.
Another common misconception? That nuclear is just a small piece of our energy mix. Yet there are currently 99 operating reactors in the U.S. In 2015, nuclear made up 20% of U.S. electricity. Fossil fuels generated 67% of our power. Interest in nuclear energy is building again. In 2012, the U.S. NRC approved the construction of four new reactors. It is the first time this has happened since the 1970s. Governments across the globe are realizing nuclear is a cheaper, better option. And this should push the price of uranium higher.
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Managed & Built by I2M Consulting, LLC | © 2010-
Managed & Built by I2M Consulting, LLC | © 2010-