The Economics of Nuclear Power - Andrew Sullivan, The Daily Dish

I had no idea the U.S. had so much nuclear power production; I thought France led the world.

Andrew Sullivan:
16 Mar 2011 09:44 am

Robert Bryce isn't expecting a nuclear power revival in America - and not because of Japan:

The forces that already undermined the revival of America’s nuclear sector are largely economic, not political. The most formidable obstacle: the ongoing shale gas revolution.

The ability of drillers to unlock vast quantities of natural gas has resulted in an avalanche of methane production and a resulting collapse in prices. Last year, U.S. gas production hit its highest level since 1973. And despite a very cold winter, natural-gas prices have generally stayed below $4 per thousand cubic feet, which is about half the level seen as recently as 2008.

On Sunday morning, I discussed the economics of nuclear with a senior executive in the U.S. nuclear utility sector. He asked, “How can you compete with natural gas when it’s priced at less than $4?” The answer, said the executive, who asked that his name not be used because he was not authorized to speak the media, is, “you can’t.”