Déjà vuall over again: climate change and the prospects for a nuclear power renaissance

Drawing upon data from congressional statutes, federal agencies, the nuclear industry, and a range of secondary sources, the prospects for a nuclear resurgence in the United States in the aftermath of the Fukushima disaster are evaluated. Before the accident, several factors seemed to favor a nuclear revival: the rise of climate change as an issue; dramatic swings in the price of oil and natural gas; streamlined licensing procedures established in the Energy Policy Act of 1992; a variety of new economic incentives in the Energy Policy Act of 2005; and the shift to new, standardized reactor designs. Despite these changes, the chances of a nuclear revival in the United Stated were slim even before Fukushima; lingering public concerns over nuclear waste disposal, reactor safety and, most importantly, economic viability were serious obstacles. Keywords: nuclear powerclimate changeeconomic viability Notes 1. In October 2010, Constellation Energy announced that it was unable to agree to terms with the Department of Energy on the $7.5 billion loan guarantee (Behr 2010). Following the Fukushima meltdowns, NRG cited financing issues in announcing that it was suspending work on its South Texas project; Tokyo Electric and Power Company, which owns the Fukushima reactors, was one of the investors (Wald 2011).