Matthew Bohlsen opines that no matter whether you support it or not, it looks like nuclear energy is here to stay. [And in interpreting what Bohlsen is trying to say, it should be obvious to everyone thinking clearly that nuclear power: 1) creates electricity that is quite cheap, 2) is clean, 3) is safe, 4) provides the grid to support renewables in places, 5) can help meet global energy needs, and 6) is supported by many governments around the globe.]. This is mostly because nuclear power emits no carbon. Due to climate change and harmful pollution, many countries are phasing out fossil fuels, especially coal. Since 1971, nuclear has avoided the release of an estimated 56 giga-tonnes of carbon dioxide. That’s almost two years of total global emissions from fossil fuels.
This only leaves a few main climate-friendly energy sources, such as nuclear and renewables (solar, wind, and hydro-electric power). The problem is not all renewable projects are yet capable of carrying the entire energy demand load on their own, [and the O&M costs of the large solar and wind farms are much higher than originally anticipated]. This is why many governments are in favor of nuclear. Unfortunately, President Trump [has supposedly] stated: “Nuclear is a way that we get what we have to get, which is energy. I’m in favor of nuclear energy, very strongly in favor of nuclear energy.", [which may yet be the kiss of death for nuclear because his support only damages nuclear power's reputation by association and is likely only a guise for supporting coal and other fossil fuels.].
Nuclear Power Reactors
Nevertheless, there are about 455 nuclear reactors operating around the world. On top of that, there are another 71 reactors under construction (covering 12 countries), 165 planned, and 315 proposed. Japan recently announced that they will bring back online 15 nuclear plants. China is driving much of the growth, and soon India may follow. For example just last week it was announced that China plans to invest US$12 billion in new reactors. China announced plans to also build up to 20 floating nuclear power plants. One advantage of a floating plant is it will not be affected by earthquakes, tsunamis maybe? More than a dozen countries including the US get over 25% of their energy from nuclear power, and this is increasing. Despite having the most generators in the world, the U.S. is expecting four to six new generators to come online by 2020. More nuclear plants means uranium demand should be strong. Forecasts for the uranium supply go into deficit starting 2019. Recent uranium price increases are starting to support this.
Uranium Demand Versus Supply Forecast
Expect a lot more action from the Trump administration in expanding U.S. nuclear energy programs as one billion dollars has been earmarked for the development of new advanced reactors. Recently, the Trump administration announced $3.7 billion in new loan guarantees to support the completion of the first new U.S. commercial nuclear reactors in a generation, calling the expansion of nuclear energy “the real” Green New Deal. This will be further great news for the uranium miners [but will likely fall on deaf ears in Congress and resisted by some Democrats and the Left of the general public, who are in no mood to believe in one thing that this president supports, and who ignorantly have bought the Green Resolution idea as being only wind and solar, and of course, conservation, which Americans do not do well.]
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