The Obama Energy Policy, like almost all of President Barack Obama’s policies, is grandly visionary, but seemingly lacking in details. I’ll give the guy a break because he’s only been in power for a few months and he’s cranking out big new proposals in a machine-gun manner. As time passes, each of his policies will likely gain more clarity.
Obama hired Dr. Steven Chu to head the Department of Energy. As we looked at in a recent article, Chu has a positive attitude towards nuclear energy. He and Obama both said they wouldn’t ignore nuclear energy as a viable alternative energy, as long as it could be produced safely and the radioactive waste could be dealt with in a secure environment.
Dr. Chu has now announced a new panel to look into those issues.
Obama has already ruled out a radioactive waste repository, like the controversial one that was proposed for Yucca Mountain. Therefore Chu has stated he’ll be selecting a “blue-ribbon panel” of experts to look at viable solutions on what can be done about nuclear waste.
Chu was meeting with the Senate Budget Committee to discuss details of Obama’s immense 3.3. trillion energy spending plan. He said that the nuclear policy and the “blue-ribbon” panel initiatives would become more clear before the end of the current year.
“I don’t want to suggest what this blue-ribbon panel might determine but let me stress this will be done this year,” Chu told the committee.
Chu said that nuclear energy must be used along with solar and wind energy, which seems to be the clear pragmatic solution for helping wean the United States from its insatiable appetite for foreign energy.
20% of the total electrical production in the United States currently comes from nuclear power. In order to increase nuclear energy production, a large investment in nuclear power plants must ensue. Chu hinted at just how the Obama administration could help stoke that fire.
Chu stressed that federal loans worth 18.5 billion dollars were still available. He also said that the government’s Nuclear Regulatory Commission rather than the Department of Energy is the agency that approves licenses for new nuclear plants.
He said that DoE and NRC are now teaming up to offer a stream-lined process that should make getting licenses much easier.
This is great economic news for companies who are big players in next-generation nuclear production capabilities. This includes industrial stalwarts Westinghouse Electric, a division of Japan’s Toshiba Corp., and General Electric. Both companies stand to benefit greatly from a faster licensing process that would encourage speedier deployment of nuclear assets.
As to the waste issue, Chu said it’s not compelling enough to halt the way of increased nuclear production. Right now nuclear waste can be stored at nuclear power plants using “dry cask storage.” That method can store nuclear waste for decades, which will buy us time until the “blue-ribbon” panel figures out a permanent radioactive waste scheme.
There are currently 31 proposed applications for new nuclear power plants that could be quickly ramped up if the storage solution problem is ignored for the time being. Chu said he didn’t think the NRC should be holding up these proposals.
Presumably a new Golden Age of Nuclear is nearing. The keys in coming months will be to see just what the new blue-ribbon panel is about and what solutions they come up with for the radioactive waste conundrum.
With 3.3 trillion dollars in spending to back them. a combination of wind, solar, and nuclear energy production could help the United States make the quantum leap needed to become a 21st century nation with a largely “green economy.” The high paying jobs that will be created based on these 31 plants becoming reality would be enough to help halt employment and even put a dent in the construction crisis.
If the Obama Energy Policy lives up to its potential, America really will be a cleaner, better place for it.



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