Skip to main content

Buffet Keeping "Open Mind" About Investing in Nuclear Energy

Warren Buffet is taking a hard look at the electricity business, including nuclear energy. From a report in this morning's Wall Street Journal (subscription required):
Billionaire investor Warren Buffett said his Berkshire Hathaway Inc. is willing to invest more money in the U.S. energy sector than the $10 billion to $15 billion he previously discussed and said he sees more opportunities in the utilities industry, including nuclear power.

Mr. Buffett -- whose Berkshire vehicle already plans to buy U.S. utility PacifiCorp from Britain's Scottish Power PLC for $5.1 billion -- also said he would invest in power-transmission lines, broaden energy markets and undertake other efforts to improve electricity reliability after the deal closes. Pledging such moves, which would boost the potential value of his power holdings, also could help him win support from Western state officials who must approve the deal.
Further . . .
In the interview, Mr. Buffett said he is keeping an "open mind" about investing in a new generation of nuclear-power plants that wouldn't create air pollution. Even if there is debate about global warming and the power industry's culpability, Mr. Buffett said, "the price of making a mistake [by not acting] is such that you should err on the side of the planet."
These days, it's hard to tell the difference between Warren Buffet and James Lovelock.

Technorati tags: , , , , ,

Comments

Norris McDonald said…
Warren. Call me. Have your people talk to my people. If the U.S. cannot get its act together and build new nuclear plants maybe you and I should meet with Mexico and Canada to see if we can build along the U.S. border. Then all we will need are the transimission lines to deliver the emission-free power. Call me. (301) 265-8185
Rod Adams said…
Warren:
Call me instead. Adams Atomic Engines, Inc was incorporated in 1993 with the epress purpose of designing a new kind of nuclear power system that could be built in smaller sizes to take advantage of serial production.
We believe that our plant designs can adapt to fit into a number of market opportunities that are normally ignored by the nuclear industry, including commercial shipping, power for smaller towns and cities, and power in developing areas or countries.
Rod Adams
President and CEO, Adams Atomic Engines, Inc.

Popular posts from this blog

How Nanomaterials Can Make Nuclear Reactors Safer and More Efficient

The following is a guest post from Matt Wald, senior communications advisor at NEI. Follow Matt on Twitter at @MattLWald.

From the batteries in our cell phones to the clothes on our backs, "nanomaterials" that are designed molecule by molecule are working their way into our economy and our lives. Now there’s some promising work on new materials for nuclear reactors.

Reactors are a tough environment. The sub atomic particles that sustain the chain reaction, neutrons, are great for splitting additional uranium atoms, but not all of them hit a uranium atom; some of them end up in various metal components of the reactor. The metal is usually a crystalline structure, meaning it is as orderly as a ladder or a sheet of graph paper, but the neutrons rearrange the atoms, leaving some infinitesimal voids in the structure and some areas of extra density. The components literally grow, getting longer and thicker. The phenomenon is well understood and designers compensate for it with a …

Why America Needs the MOX Facility

If Isaiah had been a nuclear engineer, he’d have loved this project. And the Trump Administration should too, despite the proposal to eliminate it in the FY 2018 budget.

The project is a massive factory near Aiken, S.C., that will take plutonium from the government’s arsenal and turn it into fuel for civilian power reactors. The plutonium, made by the United States during the Cold War in a competition with the Soviet Union, is now surplus, and the United States and the Russian Federation jointly agreed to reduce their stocks, to reduce the chance of its use in weapons. Over two thousand construction workers, technicians and engineers are at work to enable the transformation.

Carrying Isaiah’s “swords into plowshares” vision into the nuclear field did not originate with plutonium. In 1993, the United States and Russia began a 20-year program to take weapons-grade uranium out of the Russian inventory, dilute it to levels appropriate for civilian power plants, and then use it to produce…

Nuclear Is a Long-Term Investment for Ohio that Will Pay Big

With 50 different state legislative calendars, more than half of them adjourn by June, and those still in session throughout the year usually take a recess in the summer. So springtime is prime time for state legislative activity. In the next few weeks, legislatures are hosting hearings and calling for votes on bills that have been battered back and forth in the capital halls.

On Tuesday, The Ohio Public Utilities Committee hosted its third round of hearings on the Zero Emissions Nuclear Resources Program, House Bill 178, and NEI’s Maria Korsnick testified before a jam-packed room of legislators.


Washingtonians parachuting into state debates can be a tricky platform, but in this case, Maria’s remarks provided national perspective that put the Ohio conundrum into context. At the heart of this debate is the impact nuclear plants have on local jobs and the local economy, and that nuclear assets should be viewed as “long-term investments” for the state. Of course, clean air and electrons …