WSJ: Nuclear power seems to be gathering momentum—now Italy’s trying to jump on board. Does that change the debate here?
WHITMAN: The nuclear revival is happening all across Europe. A lot of the countries who’ve signed onto Kyoto, find they can’t meet their emissions budgets. The biggest difference is that for the first time, environmentalists are willing to engage. Climate change is such an important deal, we’ve gotten boxed in—what form of base power can meet our needs?
If electricity demand is going to grow 20% by 2030, and you’re not going to get there with energy efficiency and renewables alone, if you care about climate change, you have to look at nuclear power as part of the solution.
WSJ: But one of the big question marks is the ability of the nuclear industry to really gear up, with concerns over supplies of key components and even technicians.
WHITMAN: There probably won’t be too many problems from a personnel point of view, because there is more and more technical training going on, and there’s always the U.S. Navy.
In terms of components, there are more issues, like forging the reactor core vessel. Eventually, that is going to be a problem. But that is something that we could do in the U.S., and it would bring back manufacturing jobs.
WSJ: Green jobs are all the rage, especially after the stimulus bill. In the past, CASE has touted the job-creation potential of the nuclear industry, but how realistic is that given the sector’s upstream challenges?
WHITMAN: Look, peak employment during the construction of a nuclear reactor can reach 4,000 jobs. Once built, you’re looking at 400-700 full-time jobs. Now, if all the 26 reactors in the pipeline were built in the US, you’d be talking about 12,000 to 21,000 jobs.
Things are speeding up. The Nuclear Regulatory Commission has streamlined the permitting process, so the timeline [for a new nuclear plant] is more like 8-10 years, rather than 15 years as in the past. And that’s only going to get faster—we’re talking about 4 technologies for new reactors instead of the 95 or so for the current 104 reactors.
And that will help the economics—you’ll finally see economies of scale. That will be better on the jobs side, too, because people can move around from one reactor to another. In the past, they always had to retrain. Standardization will bring a lot of benefits.
WSJ: But there’s still the question of nuclear-waste storage, and the decades-long debate over Yucca Mountain.
WHITMAN: The storage question is not a nuclear science issue, it’s a political science issue. It’s all [Senate majority leader] Harry Reid. The spent fuel rods are safely stored for now.
Now, France and Japan are reprocessing their spent fuel, bringing that waste from 95% useable fuel down to about 3%. If we get that going, then that will reduce the amount of waste to be stored, and Yucca will be in fine shape.
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