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USA’s nuclear industry’s desperate bid for tax-payer money, to save it from extinction

terminal-nuclear-industryFlag-USAU.S. Should Save Nuclear Industry From Fracking Peril: IEA, Jeff McMahon, Forbes, 18 Dec 14, The United States needs to develop clear policies to support its ailing nuclear industry—which is prone to seeing old reactors close rather than new reactors open largely because of the impact on energy prices of cheap natural gas from fracking, the International Energy Agency said in a report released today.

“The domestic nuclear industry is therefore at a critical juncture as a consequence of its declining economic competitiveness, and existing market mechanisms do not favour investment in high capital-intensive nuclear technology,” according to the IEA’s comprehensive review of U.S. energy policy for 2014.

“There is a need, therefore, to develop and articulate a clear strategy for nuclear power, including a statement of how the federal government will provide long-term support. Given the long lead times for construction and the declining share of nuclear power in the energy mix, these considerations should be concluded quickly.”……..

The free market is unlikely to revive the U.S. nuclear industry without government intervention, it says……

The IEA report will embolden efforts by nuclear utilities like Exelon that have sought government support for nuclear energy and reduced support for competitors, such as tax subsidies for wind power. http://www.forbes.com/sites/jeffmcmahon/2014/12/18/u-s-should-save-nuclear-industry-from-fracking-peril-iea/

December 19, 2014 - Posted by | politics, USA

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