Nuclear Energy is “over” Says Renowned Economist

Internationally renowned* economist Jeremy Rifkin, when asked, at Wermuth Asset Management, 5th Annual Investors Event, “What would be your view on nuclear energy?”, responded:

Frankly, I think from a business perspective, it’s over. I think it’s over. Let me explain why. There may be a lot of ideological issues, but from a business perspective here’s the situation…

Rifkin’s reasons why nuclear is not the answer to climate change:

  1. Presently, 400 old nukes supply 6% of electrical energy. We’d need to replace them and build 1600 more to make a difference. At three a month, each month for 40 years, too slow to make a difference.
  2. We don’t know what to do with the radwaste
  3. Running out of high-quality uranium ore, so operating cost will go up
  4. Reprocessing waste could solve #3, but not in an age of terrorism
  5. Insufficient water for cooling
  6. Nuclear is centralized power, not distributed, collaborative or laterally scaled

*Forbes: “Economist and energy visionary […] advisor to the European Union and to heads of state around the world.”

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