NEI Nuclear Notes

Below are a few snippets of recent comments from two of the world’s biggest investors. Here’s Mr. Gates yesterday: After the nuclear disaster in Japan at the Fukushima reactors, the general public is understandably skittish about nuclear energy once again. But not Bill Gates. Speaking today at a Wired business conference in New York City, he is talking up the benefits of nuclear energy, particularly next-generation designs. And here’s Mr. Buffett at his annual meeting last week : Don’t question Buffett’s commitment to nuclear power. He views it as essential to helping fill the United States’ energy needs. “I think some people misinterpreted my interview when I said that it had suffered a major setback,” he said. “That does not change my view that nuclear power is important for the world.” Munger adds that we can’t be so risk-averse about possibilities that are relatively remote that we forego useful solutions. He also says that there are always long-tail risks, l...

The Wall Street Journal has a story about Warren Buffett's pending purchase of Constellation Energy and, particularly from our point of view, its UniStar subsidiary, a nuclear consortia that includes Electricite de France , AREVA and Bechtel . The WSJ has no idea how Buffett might proceed with its Unistar subsidiary: On Thursday, MidAmerican chief executive Greg Abel sounded more enthusiastic about the technology, saying "we're committed to new nuclear." But: Mr. Buffett's sudden emergence raises questions about whether nuclear development, in general, has viability, according to Paul Patterson, head of Glenrock Associates LLC in New York, a research firm. "It's a very cloudy picture," Mr. Patterson says, "And, so far, we don't have anyone making a firm decision to go forward." [We're not sure if he means Buffett, which would be an awfully early call, or the industry, which is plainly false.] What is not fully noted in the sto...