ECONOMIC GROWTH and technological innovation are directly related
to the availability of low-cost electricity. Each percentage increase in
real GDP between 1970 and 2000 has resulted in a 1 percent rise in
demand for electricity. Not surprisingly, the price of electricity is
one of the determinants of the competitiveness of industries, with the
U.S. enjoying lower costs per kilowatt hour than, for example, Germany,
Spain or the U.K. Coal currently supplies 51 percent of America's
electricity, and because the U.S. has 250 years of proven reserves--more
than the oil reserves of Saudi Arabia--coal will be used for some time.
The problem is that as a fossil fuel, burning coal contributes to
greenhouse gases that affect climate change.
Nuclear power, which supplies 20 percent of the U.S.'s
electric power, is safe, reliable and free of carbon emissions. Yet it
has been over 30 years since a nuclear power plant has been built.
We've let the fears of 30 years and an endless squabble over waste
storage make it almost impossible to build new plants. In New York
State, for example, power demand is up more than 12 percent since 1993,
while generating capacity is up only 2.6 percent. The state has built no
power plants since 1994, and the one nuclear facility in the southern
part of the state is the target of environmental jihadists, who want to
replace it with solar and wind.
Sources such as solar and wind are intermittent and unreliable and
cannot replace reliable base load sources such as hydro, fossil and
nuclear. Yet many of our feckless politicians and folks in the
environmental movement and in media say we can do without nuclear power.
But as time goes on the logic has to emerge. It is not logical to assert
that climate change is the most important issue of our time and that
reducing fossil fuel usage is the principal aim and then thwart the very
technology that best accomplishes that.
From France to Finland, other countries around the world have
concluded that there is at present no other technology that offsets as
much carbon emissions as nuclear. It's time we did as well.
COPYRIGHT 2007 Chief Executive
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