Time for the nuclear option?

Presented by The American Petroleum Institute (API): Your guide to the political forces shaping the energy transformation

Jul 19, 2022 View in browser   By Arianna Skibell Presented by The American Petroleum Institute (API) A nuclear power plant at near Grafenrheinfeld, Germany.  | Sean Gallup/Getty Images In 1973, President Richard Nixon predicted the United States would have 1,000 nuclear power plants by the year 2000. The nation peaked at 104 operating reactors in 2012. Today, there are about 90. For decades, countries around the world have increasingly shuttered their nuclear plants, disenchanted by how dangerous and expensive they can be to operate. They are technically complex, taking years to license and build. Plus, proper disposal of the hazardous waste is a challenge. But two ongoing emergencies — Russia's invasion of Ukraine and the climate crisis — could reverse the trend. Like wind and solar, nuclear power does not release planet-warming pollution into the atmosphere — offering a potentially attractive energy alternative as extreme heat threatens the electricity grid and nations struggle to quit fossil fuels. In California, for example, political leaders are now considering keeping the state's final nuclear power plant open beyond its scheduled closure date. California has an ambitious target to significantly green its power grid by 2030, but the state is also struggling to maintain energy reliability in the face of increasingly frequent weather disasters driven by carbon pollution. Earlier this year, President Joe Biden announced $6 billion in grants to nuclear plant operators to help keep them online. West Virginia repealed its quarter-century ban on nuclear plant construction, and Indiana's Senate passed a bill to offer incentives for building next-generation nuclear plants at existing fossil fuel plant sites. Wyoming and Montana have likewise adopted nuclear-friendly laws. Europe is also increasingly eyeing the nuclear option, as it scrambles to find energy to replace its now shaky supply of gas from Russia. Investing in natural gas infrastructure — which would lock in years of carbon emissions — has been leaders' main focus. But Belgium also has opted to extend the life of its remaining reactors, and Poland is building its first plant. France has boosted its nuclear portfolio in recent years, though a series of maintenance issues is threatening its fleet's viability. Even Germany, which has been stubbornly opposed to nuclear power in the past, is reassessing its stance in light of the current energy crisis. The renewed interest in nuclear power comes as large swaths of the globe face fatal heat waves, wildfires, floods and glacial avalanches fueled by a warming world. World leaders may decide that the benefits of running emissions-free nuclear plants now outweigh the costs.   It's Tuesday— thank you for tuning in to POLITICO's Power Switch. I'm your host,  Arianna Skibell.  Power Switch is brought to you by the journalists behind  E&E News and POLITICO Energy. Send your tips, comments, questions to  askibell@eenews.net. Trends Heat model of July 15, 2022. | NASA Heat waves and fires are scorching Europe, Africa and Asia this summer, NASA data shows . For the first time, temperatures in the UK hit 40 degrees Celsius , or 104 degrees Fahrenheit. Flights were halted after the heat melted the runway at the London Luton Airport. Why is it so effing hot? In short, it's climate change. The build up of CO2 from burning fossil fuels has made heat waves more intense and more frequent across the globe, including in Europe. Scientists are now warning the heat could also cause a spike in ozone pollution. Power Centers Campaign signs for Senate contender Pennsylvania Lt. Gov. John Fetterman. | Michael Santiago/Getty Images Making the most of defeat Progressive planet advocates are hoping to use West Virginia Sen. Joe Manchin's opposition to climate action to drum up support for Democratic senators in the midterm election, writes Timothy Cama. Since Manchin isn't up for election until 2024, expanding Democrats' majority is the only way to pass policies he opposes through Congress. Read the story here . But can it be done? Few political pundits forecast Democrats will keep control of Congress, and failing to pass a climate bill may have further imperiled their chances, writes Scott Waldman. Biden's climate plan is in free fall as heat waves, wildfires and floods grip the nation. It may not be long before he's doing another tour of damaged communities, lamenting the cost of inaction. When he did that last year, he had a solution: his $1.8 trillion "Build Back Better" plan. Read more here . Biden's climate emergency dance The president is planning to announce actions to combat climate change, but not yet declare a climate emergency, write Kelsey Tamborrino, Zack Colman, Josh Siegel and Alex Guillén. Here's the scoop . That's a shift from this morning, when the White House seemed poised to make the declaration. Kelsey Brugger, Nick Sobczyk and Robin Bravender explain where things stand and the scope of executive power. Read the story here . Now to Europe's short-term solutions As climate change brings flames, heat and death, the leaders of the world's most powerful economies are overwhelmed by short-term crises, neglecting to implement long-term solutions, write Karl Mathiesen, Zia Weise and Zack Colman. Even as their countries burn, Western governments seem content to let their climate policies slide. Full story here .   A message from The American Petroleum Institute (API): Several factors led to a significant and sustained supply and demand imbalance in global oil markets. Demand for energy, specifically crude oil, has surged as global economies have rebounded from the early part of the pandemic. Russia's invasion and the resulting instability exacerbated the global energy crisis. And the solution? It's right here in America. Read more to learn what policies could help resolve this crisis.   In Other News Money talks: Climate change is expensive. A new study found that extreme heat, drought and floods are costing Germany $6.7 billion in damages every year. In the U.S., extreme weather led to $121 billion in property loses over five years — and that doesn't include wildfire damage costs. Carbon removal comes to Washington: A new group of more than 40 companies, the Carbon Business Council, is setting up shop in the nation's capital to give the burgeoning industry a seat at the policy table. Today in POLITICO Energy's podcast: Marie French explains how much influence unions have over climate policies in New York and how environmental groups are reacting. Question Corner The science, policy and politics driving the energy transition can feel miles away. But we're all affected on an individual and communal level — from hotter days and higher gas prices to home insurance rates and food supply. Want to know more? Send me your questions and I'll get you answers.   A message from The American Petroleum Institute (API):   Subscriber Zone A showcase of some of our best subscriber content. A liquefied natural gas terminal in Germany. | David Hecker/Getty Images The United States is set to produce a record amount of natural gas, even as Europe braces for shortages stemming from the Russia-Ukraine war An analysis finds the United States is prioritizing oil production over renewable power on public land, underscoring the challenges renewable resources continue to face. DOT Secretary Pete Buttigieg insists the electricity grid will be ready to meet Biden's climate goals despite Republican skepticism. That's it for today, folks! Thanks for reading.   A message from The American Petroleum Institute (API): Washington policymakers must confront the global mismatch between demand and supply that has driven higher fuel prices by supporting greater U.S. production. To address the growing crisis we face, Congress and the President must support energy investment, create new access and prevent regulations from unnecessarily restricting energy growth. The world is calling out for energy leadership. Read the American Petroleum Institute's 10 in 2022 Plan which outlines 10 actions Congress can take to unleash U.S. energy and drive economic recovery. Read here.     Follow us on Twitter Arianna Skibell @ariannaskibell   Follow us

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