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Nuclear Power: Has the Time Finally Come?
Commercial nuclear power emerged in the mid-1950s, to great enthusiasm. The Eisenhower administration promoted it as a major part of its Atoms for Peace program. There was talk about ‘electricity too cheap to meter,’ and about making the world’s deserts bloom via nuclear-powered desalination.
And quite a few commercial nuclear plants were indeed built and put into operation. In the US, there are presently 93 commercial reactors with aggregate capacity of 95 gigawatts, accounting for about 20% of America’s electricity generation. But overall, adoption of commercial nuclear power has not met early expectations. Costs have been much higher than were expected. There have been great public concerns about safety, stemming originally from the association of nuclear power and nuclear weapons as well as by practical concerns and then supercharged by the Three Mile Island accident in 1979 and then by Chernobyl (1986) and the Fukushima disaster in 2011. Permitting and construction times have been long and unpredictable, driven by the public concerns as well as by the general growth of regulation and litigation in the US and the custom, one-off manner in which these plants have been constructed.
The recent dramatic events in Texas are an early warning sign of the disasters that are likely to occur if the Biden administration continues its relentless effort to demonize the use of fossil fuels in the effort to combat climate change.
