We need an Energy Miracle — Here is How to Create that Miracle

Fact #1: Fossil Fuels continue to dominate global energy

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Fact #2: Globally we are out of time – now need to increase decarbonization rate by factor of five. From PWC: Low Carbon Economy Index 2014 | 2 degrees of separation: ambition and reality

These two charts should make it clear that what we have been doing to eliminate fossil fuels is not working. This week we have seen more of the same non-functional, heat-but-no-light activity signified by a Feel-Good Climate March. Many of the marchers carried Anti-Nuclear signage. No doubt these are nice, sincere people. These are not serious people – they are not serious about climate change.

Harvard's Joseph Lassiter is serious about climate change. He is Professor of Management Practice in Environmental Management at Harvard Business School. Among his specialities is low carbon energy policies. He has just published the perfect response to the climate march feel-gooders. In this short essay Dr. Lassiter makes the essential points which I'll summarize as:

  1. Fossil fuel continues to dominate while both IEA and EIA forecast continuing fossil growth.
  2. We need an energy miracle.
  3. “That miracle comes in the form of “New Nuclear” power plants.”
  4. “The barriers to rapid progress in New Nuclear are not technical, not even economic. The barriers are in the outdated nuclear regulations that scare off private investors and in the nuclear industry-regulatory culture that accepts timelines measured in decades as normal. The world needs a New Nuclear miracle today.”
  5. “The US, EU and Japan have the technology infrastructure and the dynamic, startup companies to bring New Nuclear to the table quickly.”

Quoting Lassiter directly:

Entrepreneurs in the US, EU and Japan have the ideas. China and India and every other developing economy have the clear and compelling need. But to convert these new ideas into real alternatives, the world’s governments need to act. They must redesign their nuclear regulatory practices and provide physical facilities for prototype evaluation that will let private capital take on the tasks of technical innovation, experimentation, and rigorous stress testing, even as the eventual permitting authority remains with public regulators. Innovation and regulation must proceed hand-in-hand, but regulators must allow entrepreneurs to pursue their innovations with a relentless urgency that matches the severity of the unknowable threats that the world faces from global warming and ocean acidification.

Please read the entire essay, then send the essay to your elected representative, telling her that you expect to see legislation to reform nuclear regulation and also government support for the rapid development of New Nuclear. Thanks heaps to John Morgan @JohnDPMorgan for referring me to the Lassiter essay.