Monday, July 30, 2012

GE Chief: Nuclear 'hard to justify'

I recall a study showing emissions rising rapidly the past 2 years, demonstrating that if emissions targets are to be achieved, emissions reductions would need to be achieved globally at a rate only sustained over a decade twice: once by France's move to nuclear, and once by the UK's dash for gas period.
I also recall gas subsequently getting more expensive as it became scarcer in the UK.
As Stephen Colbert once said (I paraphrase):  "There's a great saying about history ... I can't remember what it is, but it's a great saying"

GE Chief: Nuclear 'hard to justify' -
"(Financial Times) -- Nuclear power is so expensive compared with other forms of energy that it has become "really hard" to justify, according to the chief executive of General Electric, one of the world's largest suppliers of atomic equipment.
"It's really a gas and wind world today," said Jeff Immelt, referring to two sources of electricity he said most countries are shifting towards as natural gas becomes "permanently cheap".
"When I talk to the guys who run the oil companies they say look, they're finding more gas all the time. It's just hard to justify nuclear, really hard. Gas is so cheap and at some point, really, economics rule," Mr Immelt told the Financial Times in an interview in London at the weekend. "So I think some combination of gas, and either wind or solar ... that's where we see most countries around the world going."
Mr Immelt's comments underline the impact on the global energy landscape of the US shale gas revolution," 

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