Forget Nuclear

By Amory B. Lovins, Imran Sheikh, and Alex Markevich
Correction Appended
Nuclear power, we’re told, is a vibrant industry that’s dramatically reviving because it’s proven, necessary, competitive, reliable, safe, secure, widely used, increasingly popular, and carbon-free—a perfect replacement for carbon-spewing coal power. New nuclear plants thus sound vital for climate protection, energy security, and powering a growing economy.
There’s a catch, though: the private capitalmarket isn’t investing in new nuclear plants, and without financing, capitalist utilities aren’t buying. The few purchases, nearly all in Asia, are all made by central planners with a draw on the public purse. In the United States, even government subsidies approaching or exceeding new nuclear power’s total cost have failed to entice Wall Street.