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

Sneak Peek

There's an invisible force powering and propelling our way of life.
It's all around us. You can't feel it. Smell it. Or taste it.
But it's there all the same. And if you look close enough, you can see all the amazing and wondrous things it does.
It not only powers our cities and towns.
And all the high-tech things we love.
It gives us the power to invent.
To explore.
To discover.
To create advanced technologies.
This invisible force creates jobs out of thin air.
It adds billions to our economy.
It's on even when we're not.
And stays on no matter what Mother Nature throws at it.
This invisible force takes us to the outer reaches of outer space.
And to the very depths of our oceans.
It brings us together. And it makes us better.
And most importantly, it has the power to do all this in our lifetime while barely leaving a trace.
Some people might say it's kind of unbelievable.
They wonder, what is this new power that does all these extraordinary things?

A Design Team Pictures the Future of Nuclear Energy

For more than 100 years, the shape and location of human settlements has been defined in large part by energy and water. Cities grew up near natural resources like hydropower, and near water for agricultural, industrial and household use.

So what would the world look like with a new generation of small nuclear reactors that could provide abundant, clean energy for electricity, water pumping and desalination and industrial processes?

Hard to say with precision, but Third Way, the non-partisan think tank, asked the design team at the Washington, D.C. office of Gensler & Associates, an architecture and interior design firm that specializes in sustainable projects like a complex that houses the NFL’s Dallas Cowboys. The talented designers saw a blooming desert and a cozy arctic village, an old urban mill re-purposed as an energy producer, a data center that integrates solar panels on its sprawling flat roofs, a naval base and a humming transit hub.

In the converted mill, high temperat…

Seeing the Light on Nuclear Energy

If you think that there is plenty of electricity, that the air is clean enough and that nuclear power is a just one among many options for meeting human needs, then you are probably over-focused on the United States or Western Europe. Even then, you’d be wrong.

That’s the idea at the heart of a new book, “Seeing the Light: The Case for Nuclear Power in the 21st Century,” by Scott L. Montgomery, a geoscientist and energy expert, and Thomas Graham Jr., a retired ambassador and arms control expert.


Billions of people live in energy poverty, they write, and even those who don’t, those who live in places where there is always an electric outlet or a light switch handy, we need to unmake the last 200 years of energy history, and move to non-carbon sources. Energy is integral to our lives but the authors cite a World Health Organization estimate that more than 6.5 million people die each year from air pollution.  In addition, they say, the global climate is heading for ruinous instability. E…