Bangladesh's $12.65 Billion Nuclear Bet Faces Its Biggest Test Yet
India Proposes Stricter Vehicle Emission Rules To Cut Oil Consumption Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… The world is turning toward nuclear power as a solution to the increasingly dire energy trilemma – the tricky issue of sourcing energy that is simultaneously affordable, sustainable, and secure.
As the artificial intelligence boom pushes energy demand into the stratosphere in rich nations, and back-to-back oil shocks and soaring temperatures leave poor nations scrambling for alternative energy sources, the nuclear option is looking increasingly appealing for a broad range of national contexts.
“With energy security now ranking alongside climate commitments as a top policy priority, nuclear power appears positioned to play a central role in the global electricity landscape through mid-century,” the Foreign Policy Journalreportedlast month.
This includes planned nuclear expansion in strong nuclear sectors like the United States and Canada, as well as in smaller economies that are trying out nuclear for the first time.
Historically, nuclear energy has been dominated by wealthier nations, as nuclear power plants are notoriously expensive to develop and nuclear waste additionally requires strong governance and lots of money to manage.
As a result, just five economically powerful nations – the United States, France, China, Russia, and South Korea – account formore than 70 percentof global nuclear energy output.
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Most of the 80 nuclear reactors currently under construction in the world are in emerging economies, marking a sea change in nuclear development.IndiaandPakistanhave each kickstarted nuclear power sectors in recent years, and more emerging economies are soon to follow.
Even tiny nations likeSingaporeare now considering the technology as its benefits are highlighted by global energy market volatility.
“For these countries, nuclear helps to decarbonize their grids while avoiding an over-reliance on intermittent power sources such as solar and wind,” Bloomberg wrote in a recentreport.
“It’s also a way of cutting dependence on imports of fossil fuels that are vulnerable to external shocks — notably Russia’s invasion of Ukraine and the Iran war.” However, while this approach is helping countries to wean themselves off of their dependence on fossil fuel imports, the development of nuclear power in emerging economies is still largely being funded by external actors.
China and Russia have been facing off in the African nuclear energy sectorfor years now, each vying to establish dominance and influence in the burgeoning sector.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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