Skip to main content

Al Franken Endorses Nuclear Power

Al Franken Senate candidate on energyAn article in this morning's Minneapolis-St. Paul Star Tribune, "Nuclear energy is enjoying a renaissance," looks at the economic and political landscape of nuclear energy expansion in Minnesota.
For those building new — and Gov. Tim Pawlenty has proposed lifting the state’s moratorium — construction will be faster than in the past, however, said Kent Mortensen, industrial analyst at Thrivent Financial for Lutherans in Appleton, Wis. Instead of designing every plant separately, as in the past, the NRC is approving a handful of technical designs — from firms including Westinghouse and Mitsubishi — and power companies will choose from one of these standard approved designs
The piece is interesting enough on it's own to merit posting but really it provides an opening for me to point to a nugget discovered over the weekend, from an August 15th article in the St. Cloud Times: Senate candidate Al Franken (D) supports nuclear expansion.
New nuclear power plants and new “clean” coal and natural gas plants that can capture emissions thought to cause global climate change should also be pursued, Franken said.

“To me, if we’re going to be serious about ... climate change, this is an opportunity we have to take,” he said of increasing nuclear energy production. “The problem is what to do with the waste. But I believe we can continue to improve the technology to monitor and store it.”

Channeling [and misquoting] Stuart Smalley on nuclear, "We're good enough, we're smart enough, and doggone it, people like me."

Comments

Popular posts from this blog

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...