The New Power Paradigm Is Nuclear
By Matt Badiali
Fossil fuels are dirty. We know that.
The midterms are finally winding down. And while we’ve seen debates about climate and energy in battleground elections, many of them still ignore nuclear power.
It’s available. It’s reliable. And – though this may surprise you – it’s clean:
Few realize that nuclear produces less carbon than wind, solar, or hydropower per unit of energy produced.
But they soon will.
U.S. Secretary of Energy Jennifer Granholm recently appointed Kathryn Huff to her team.
Huff was a professor and led the Advanced Reactors and Fuel Cycles Research Group at the University of Illinois.
She’s focused on nuclear her whole career. Huff will help develop a full uranium strategy in the U.S.
But this effort isn’t just in the States. Eighty-three countries now have a net-zero carbon emission target:
Governments around the world are getting serious about this issue.
And as the war in Ukraine drags on, the power players in Europe have begun to wake up.
Russia supplies these countries with natural gas to heat their homes and power their businesses in the winter. And Russia has proven that energy is no longer reliable.
So what comes next? Will the world finally realize that nuclear power is the next great boon for clean energy?
We hope so.
In the meantime, onto the news…
Numbers to Know
Inflation’s year-over-year increase in October, according to Bureau of Labor Statistics data released on Thursday. That’s less than the amount economists had expected, which was 8%. The S&P 500 Index rallied 5.5% on the news – its best day since April 2020. (Business Insider)
The world’s population as of Tuesday, according to the United Nations’ estimate. The UN forecasts that the global population will grow to 9 billion in 2036. (The Australian Broadcasting Commission)
The valuation of cryptocurrency exchange FTX in January following a round of new funding. The company declared bankruptcy on Friday amidst a scandal involving CEO Sam Bankman-Fried, who has stepped down. FTX halted withdrawals during the crisis, and many of its customers are still unable to access their funds. (CNBC)
What’s New in Sustainable Investing
Following Republicans’ unexpectedly weak showing – the worst midterm result for an opposition party in 20 years – clean energy advocates are feeling confident. Even if Republicans gain control of the House of Representatives after the votes are all counted, they believe the nation’s first climate law will be able to withstand any assault by a weakened GOP. (Inside Climate News)
President Joe Biden has implored countries to do more to tackle the climate emergency, telling the COP27 summit that time to confront the crisis is running out. Biden told a large crowd of delegates at the talks, held in Egypt, that the “science is devastatingly clear – we have to make progress by the end of this decade.” (The Guardian)
Links We Like
“Could the key to securing the world’s food supply for the future be hidden in the DNA of crops from the distant past?” (Yahoo News)
“India presses rich countries to keep $100 billion climate pledge as smog shuts New Delhi schools” (Euronews)
“A new study published November 14 in the journal Nature Sustainability found that we can drastically cut carbon emissions in airplanes by replacing conventional jet fuel with biofuels, which are made of renewable, biological matter like plants.” (The Daily Beast)