Tuesday, April 05, 2011

Nuclear Paranoia Grips West

Europe is getting slow in its old age.  Italy has unilaterally approved a one-year moratorium on the construction of new nuclear plants.  That country had a token amount of nuclear power but got spooked by Chernobyl.  The EU is getting timid too, calling for stress tests at the rest of the world's nuclear plants.  If those stress tests are anything like the tests conducted for Europe's banks, they won't mean much.

Hopefully such fears will not infect the U.S.  New nuke approvals here are inching ahead.  Meanwhile, Turkey is undaunted in its plan to build its first-ever nuke plantKenya has an ambitious plan to power 90% of its energy needs with nuclear energy.  It's cool that less-developed countries see nuclear power as the key to their continued development and energy independence. 

The West needs to get over its fear of nuclear power.  The emergency in Japan will pass.  The world's need for baseload power will not. 

Nota bene:  No positions in nuclear-related companies at this time.