Sue Lowden and the Return (?) of Yucca Mountain

Here’s something we didn’t expect to read:

At the meeting, Lowden said she is committed to amending and rewording the Nuclear Waste Policy Act so that it requires Yucca Mountain be prepared not only for the long-term storage of the nuclear waste, but also for reprocessing the waste into usable fuel.

A little context, perhaps? Well, the meeting was of the U.S. Nuclear Energy Foundation and Lowden is Nevada Senate candidate Sue Lowden. She leads in the Republican primary there and in poll-driven match-ups against Democrat Harry Reid, she also wins.

We’d warn, though, that it’s still too far out to count on such polls, which can change on a dime. Good example: Lowden herself – she’s the candidate who picked up considerable bad press after she suggested that bartering for medical care might help contain costs and that the barter might include chickens.

None-the-less, we were interested to see that opposition to Yucca Mountain is not an article of faith for politicians – that is, a local circumstance that trumps party loyalty.

Last month, GOP adviser Sig Rogich criticized Lowden’s stance on Yucca Mountain, saying that a single nuclear waste spill could destroy the Nevada economy. This echoes the stance of the Nevada Agency for Nuclear Projects, which cites concern for leaks of radioactive substances and accidents in transportation as two of its reasons for opposing the repository site.

These are non-starter arguments: used nuclear fuel already travels around the country, and has for a long time, without incident; and a “single nuclear waste spill” ruining the Nevada economy seems an out-of-the-hat argument that has no basis in any reality. Not sure the journalistic “balance” was really necessary here.

This is what makes sense:

“I don’t understand how someone could just willfully take out $500 million to $1 billion out of the economy of southern Nevada, and expect it to just flourish” he [Dr. Dennis Moltz, a nuclear scientist] said. “Because that’s what Yucca Mountain was bringing in for many years: $500 million to $1 billion.“

So if Lowden supports reopening Yucca Mountain, fine. That she may have to face down DOE Secretary Steven Chu and President Obama, also fine. There’s been a lot of doubt raised – and lawsuits filed – over Yucca Mountain, so she’s in good company.

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We paid a visit to Lowden’s campaign site to see what, if anything, she had to say about nuclear energy. We got a bit of a surprise:

Sue Lowden has always been and remains opposed to the Nuclear Waste Policy Act – which calls for deep, geologic burial of high-level nuclear waste at Yucca Mountain, Nevada. As a Nevada State Senator, Sue traveled to Washington, DC, in the 90s to testify before a congressional panel in opposition to this misguided policy.

That’s not exactly inconsistent – she says above she want to rethink the Nuclear Waste Act – but it does seem she does not support reopening Yucca Mountain.

Or does she?

Sue believes that if nuclear waste ends up being shipped to Nevada, we should ensure that Nevada can become the leader of a new, job-creating industry on reducing and ultimately, permanently eliminating the waste. She believes our Nevada Test Site could become the next major economic development, job-creating, high-tech nuclear laboratory – not just for the US, but throughout the world. Lawrence Livermore in California and Los Alamos in New Mexico are two of our nation’s leading national laboratories and many other states are competing for new, high-tech, job, career and industry-creating projects.

Hmm! Now, we’re really not sure what she has in mind. Here’s a little more from the meeting that may clarify her position a little better.

“There was a feeling that this was being shoved down Nevada’s throat by the federal government, and people don’t like it in Nevada when the federal government comes in and says ‘you will do this,’ without having any input from the people,” Lowden said. “And frankly, I didn’t like it when I was a state senator. I testified to them in Washington that I did not like the fact that Nevada was told ‘this is what we will do.’”

Lowden said, however, that she’s willing to learn more about nuclear energy, and its potential use for Nevada in the future.

So – an evolving stance. Especially if Lowden wins her primary on June 8, this will be an evolution well worth following. This may shape up to be a very consequential race.

Sue Lowden.

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...

NEI Nuclear Notes

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