Nuclear power has generally been considered an alternative energy source to fossil fuels, and generally considered on the good list due to its clean aspect with no pollution. New technology in the sector has really boosted the future prospects with the ability to generate power using spent fuel rods. Using them longer means less waste by a significant margin thus, making them even more attractive.
However, due to the meltdowns in Japan after their big Earthquake and Tsunami, once again, the powers that be and their citizenry are having second thoughts.
Does this open the door up for other alternative energy projects? Yes, and capital is being re-directed as we speak, as many nuclear power plants in the planning or construction phase have been put on hold and everyone is taking a wait and see approach. "Safety First" is suddenly back in vogue, perhaps to the point of absurdity considering how careful everyone already is in the sector when it comes to designing and building new nuclear power plants.
There have been many very telling articles concerning the challenges going forward for Nuclear Power. In the short-term, this is a complete and utter disaster for the nuclear power generation industry. One article perhaps, a little hard on the industry was in the Daily Bell on March 15, 2001 titled; "The End of Nuclear Power," where the author notes a quote from the "Globe and Mail" stating; "Power utilities had launched proposals for more than 300 new reactors, most of them in Asia, and dozens were under construction," and then indicates it's all a wash now.
Already, Germany had stopped all discussion on the applications for Nuclear Plants and Upgrades pending further review, originally it was postponed after the Japanese nuclear plant meltdowns for three months, now with all the anti-nuclear protests who knows, could be 5-10 years. In the Philippines they've halted a major nuclear power plant project. In the US Lawmakers have postponed the hearings on the latest permits for several new nuclear power plants, and in Sweden a plan to store spent fuel rods is getting cancelled.
In the Wall Street Journal on March 17, 2011 there was an article titled; "China Halts Plant Approvals in New Nod to Safety Issues," by James T. Areddy and Brian Spegele - and it's really hard to say if all these cancellations and deferments are only temporary or may become permanent. China needs more electricity plants, and if they forgo these latest nuclear plants, which are already in the works it could cause a problem in their country economically, which is the last thing they need right now.
Apparently and depending on the final outcome these challenges with the Japanese nuclear power plants is going to have a significant impact on the future of nuclear energy. It's really rocking the industry right now.
In fact, there was another interesting article in the Wall Street Journal's commodities section; "Uranium Tumbles on Japan Crisis" by Carolyn Cui which indicated that much of the run-up (80%) in the last 3 quarters is in severe jeopardy of retreat. Meaning there isn't a lot of confidence out there on the future of nuclear power, especially in the near term. Currently, the article stated there are over 65 new nuclear plants under construction right now in the world - mostly in Russia and China, but this a world-wide issue.
For now Nuclear Energy is out, and perhaps other alternative energy projects will get some breathing room, and a little extra juice with regards to capitalization. Please consider all this and think on it.
Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic.http://www.WorldThinkTank.net - Have an important subject to discuss, contact Lance Winslow.
