March 2008: Issue Five: Page 7
The second speaker, Jerry Peterson, is a distinguished Jefferson Science Fellow at the U.S. State Department. Peterson is also a professor in the physics department at the University of Colorado at Boulder and specializes in the area of nuclear physics. He is a member of the American Physical Society's Committee on Homeland Security Division of Nuclear Physics, and of the Los Alamos Neutron Science Center Division Review Committee. He was an administrator in the University of Colorado at Boulder Office of the Vice Chancellor for Research for six years, including posts as assistant vice chancellor, associate vice chancellor, and interim vice chancellor.
Peterson was in favor of nuclear power, in the short-, medium- and long-term, because both energy and environment are of great concern in today’s world. The issue, he says, is that energy and prosperity go hand in hand, and hydrocarbons seem like a likely culprit of global warming. Not only are companies spending trillions of dollars annually to keep the hydrocarbon economy going, but the reserves of these energy sources are also potentially scarce, prices are high, and the impact on the environment could be devastating, potentially leading to the Arctic melting, ocean levels rising, and changing patterns of precipitation. Peterson was therefore very enthusiastic about nuclear power because its potential lack of carbon emissions. Even better, because of the Megatons to Megawatts Program, fully half of U.S. nuclear electricity is generated from nuclear fuel derived from former Soviet nuclear weapons that have been decommissioned, advancing non-proliferation.
The third speaker, Peter Bradford, is the Board Vice-Chair for the Union of Concerned Scientists, a former member of the Nuclear Regulatory Commission, and former chair of the New York and Maine utility commissions. Bradford has advised many states on utility restructuring issues. He has also taught energy law and policy at Yale University, and served on a panel advising the European Bank for Reconstruction and Development on how best to replace the remaining Chernobyl nuclear plants.
Bradford was cautious about the expansion of nuclear power. Unlike France and Japan, which are dependent on imports for coal and natural gas to produce electricity, the U.S. is self-sufficient when it comes to our coal needs. Thus, the expansion of nuclear power would not substantially increase energy security. Bradford’s major concerns with nuclear power are the rapid escalation of costs, the fact that no utility has ordered a nuclear power plant since energy markets were deregulated in 1978, our inability to decide a final storage option, and concerns about waste reprocessing. He argues that nuclear power is an expensive option that needs to be considered carefully, particularly given who else is pursuing nuclear power (Arab, Persian, and other countries), the potential proliferation risks, and the fact that no private capital seems to be choosing to invest in
Capital Solutions (continued...)
The project will center around an internet-based portal of legal and market information targeted at clean-energy market participants. Information on the portal is being compiled by staff and volunteers at CEES and is based on contributions from well-recognized leaders in the international clean energy sector, including well-known law firms in the U.S. and India.
Capital Solutions will provide information resources that:
— Bring together a comprehensive analysis of Indian law, U.S. law, and international law in the clean-energy context;
— Process the information, using a proprietary “smart” database interface, to tailor the information provided to the specific characteristics of the product and transaction under consideration;
— Present information at a level appropriate for planning purposes, so that site users can quickly develop a clear and accurate understanding of the relevant issues;
— Foster collaborative work by providing a forum (a strategic partnership facility) in which site users may post information about their business and technology, learn about other site participants, and find potential partners for clean-energy ventures in India;
— Link user with attorneys and other professionals who specialize in relevant areas such as clean-energy technology transfer, the Indian energy regulatory system and U.S.- India international business transactions; and
— Stimulate development of clean energy deals by making much of the information on the website free.
The Capital Solutions database will also include information addressing the law governing how to do business in India, including Indian and U.S. regulatory considerations; Indian energy regulatory law; relevant multilateral and bilateral treaties; market analyses of Indian clean-energy demands; financial incentives and financing opportunities available for low carbon technology; and how to apply for, receive, and trade in carbon credits.
nuclear power, creating the need for government incentives for nuclear advancement.
