Skip to main content

Gates and Buffett Still Support Nuclear Energy

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, like a tsunami hitting Iowa. (That’d be a hell of a storm, he cracks.)

Comments

Will Davis said…
I for one am very glad to see these men step forward in support of nuclear energy.
jimwg said…
Didn't Paul Newman, an actor as liberal as you could get, eventually support nuclear in Conn? We need more pop anti-Chicken Littles to remind all that Fukushima didn't spell Doomsday -- unlike most media.

Popular posts from this blog

A Billion Miles Under Nuclear Energy (Updated)

And the winner is…Cassini-Huygens, in triple overtime.

The spaceship conceived in 1982 and launched fifteen years later, will crash into Saturn on September 15, after a mission of 19 years and 355 days, powered by the audacity and technical prowess of scientists and engineers from 17 different countries, and 72 pounds of plutonium.

The mission was so successful that it was extended three times; it was intended to last only until 2008.

Since April, the ship has been continuing to orbit Saturn, swinging through the 1,500-mile gap between the planet and its rings, an area not previously explored. This is a good maneuver for a spaceship nearing the end of its mission, since colliding with a rock could end things early.

Cassini will dive a little deeper and plunge toward Saturn’s surface, where it will transmit data until it burns up in the planet’s atmosphere. The radio signal will arrive here early Friday morning, Eastern time. A NASA video explains.

In the years since Cassini has launc…

Missing the Point about Pennsylvania’s Nuclear Plants

A group that includes oil and gas companies in Pennsylvania released a study on Monday that argues that twenty years ago, planners underestimated the value of nuclear plants in the electricity market. According to the group, that means the state should now let the plants close.

Huh?

The question confronting the state now isn’t what the companies that owned the reactors at the time of de-regulation got or didn’t get. It’s not a question of whether they were profitable in the '80s, '90s and '00s. It’s about now. Business works by looking at the present and making projections about the future.

Is losing the nuclear plants what’s best for the state going forward?

Pennsylvania needs clean air. It needs jobs. And it needs protection against over-reliance on a single fuel source.


What the reactors need is recognition of all the value they provide. The electricity market is depressed, and if electricity is treated as a simple commodity, with no regard for its benefit to clean air o…

Why Nuclear Plant Closures Are a Crisis for Small Town USA

Nuclear plants occupy an unusual spot in the towns where they operate: integral but so much in the background that they may seem almost invisible. But when they close, it can be like the earth shifting underfoot.

Lohud.com, the Gannett newspaper that covers the Lower Hudson Valley in New York, took a look around at the experience of towns where reactors have closed, because the Indian Point reactors in Buchanan are scheduled to be shut down under an agreement with Gov. Mario Cuomo.


From sea to shining sea, it was dismal. It wasn’t just the plant employees who were hurt. The losses of hundreds of jobs, tens of millions of dollars in payrolls and millions in property taxes depressed whole towns and surrounding areas. For example:

Vernon, Vermont, home to Vermont Yankee for more than 40 years, had to cut its municipal budget in half. The town closed its police department and let the county take over; the youth sports teams lost their volunteer coaches, and Vernon Elementary School lost th…