Since the turn of the millennium, at least $50 billion has been spent on a frantic effort to create a new Golden Age for nuclear energy in the U.S. Billions more are being lavished on an even more desperate effort to launch small reactors as supposedly safer, cheaper alternatives to yesteryear’s elephant-sized versions. Most of the money comes from ratepayers and taxpayers, accompanied by an avalanche of public relations that rivals the 1950s “Atoms for Peace” campaign with its claims of “too cheap to meter” electricity.
So far, the effort has produced little in tangible assets: roughly one gigawatt of capacity from the Watts Bar-2 reactor completed after decades of on-and-off-again construction and the promise of 2 GW from the long-delayed Plant Vogtle in Georgia. So far, not a single molecule of CO2 emissions has been avoided by a new reactor, and the primary beneficiaries are not the people who paid but publicly-owned utilities, reactor design companies, and PR and law firms. They are part of a chorus of advocacy groups and government agencies, led by the Department of Energy (DOE), advancing the idea that low-carbon nuclear is essential to any long-term climate change solution.
