Greenspan: US should explore nuclear, coal options

Forbes ^ | 06.10.03 | Chris Baltimore

[Willie Green]

For education and discussion only. Not for commercial use.

WASHINGTON (Reuters) - The United States should explore ways to expand nuclear power and coal energy, Federal Reserve Chairman Alan Greenspan told a congressional committee Tuesday.

But no matter how much the nation diversifies its sources, it will never be free from politically sensitive foreign suppliers like the Middle East, Greenspan told the House Energy and Commerce Committee.

"I think we are committed irrevocably to a global economy," Greenspan said at a House Energy and Commerce Committee hearing to address looming U.S. natural gas shortages. "I don't think we have a choice but to deal in a global economy."

The central bank chief said the United States should expand its ability to import liquefied natural gas from countries like Algeria, Nigeria and Russia to create a "safety valve" that can stabilize natural gas prices, which are double year-ago levels.

Congress should also look at ways to increase energy supplies from nuclear and coal, Greenspan said. The two sources together account for about 70 percent of U.S. supply.

"I think a major endeavor to examine this whole program is where we ought to be," Greenspan said, referring to nuclear and coal industries. "At least look at it rather than dismissing it out of hand," he told lawmakers.

The United States has 103 operating nuclear power plants that produce about 20 percent of domestic energy supply. Some utilities have said they are considering seeking permits to build new plants, but optimism has been tempered by lingering national security and plant safety concerns.

No new U.S. nuclear plants have been built since the 1979 accident at Pennsylvania's Three Mile Island plant, which had a partial meltdown of its reactor core.

Also Tuesday, the U.S. Senate rejected a Democratic attempt to strip from the energy bill some $10.5 billion in loan guarantees to encourage utilities to build new nuclear plants. The Senate is trying to finalize its version of a broad energy bill this week.

Few new U.S. coal plants have been built because of their high emissions of air pollution and fears that the United States will bow to pressure from Democrats and environmentalists to impose costly controls on carbon dioxide emissions.

Virginia Democratic Rep. Rick Boucher pointed out that the nation has enough coal supplies to last about 250 years.

"We have got to find some fuel alternatives and coal is the most obvious candidate," Boucher told Reuters in an interview.

New "clean coal" technology could be used to build new plants "with little environmental effect," Boucher said.

[Willie Green]

Looks like Alan is starting to take some of Willie Green's advice.
But he's still a little off-tempo with that bilge about importing natural gas.
I guess I'm gonna have to set that boy down and have a little talk with him about Maglev.

[Eric in the Ozarks]

We have > 500 years' worth of coal. If we spent just a fraction of the cost of out oil-protection troops on clean coal or related solid fuel technology, we could tell the Arabs to take a flying flip...

[MonroeDNA]

This could be a first. Me agreeing with Willie.

I don't understand what the hangups are about building nuclear plants here.

France has somewhere near 75% of its power from nuclear.

[StatesEnemy]

Everything should be nuclear!

Electrolysis to produce helium for internal combustion. Desalination plants for agua. Cheap current for everything else.

The amount of pollution is 'concentrated', and compared to acid rain, smog, etc, seems to be a bit more manageable given a responsible approach.

[kaktuskid]

Ever heard of SASOL...already being done!

[RightWhale]

I think we are committed irrevocably to a global economy," Greenspan said

The economic weatherman takes a look out the window.

[Willie Green]

France has somewhere near 75% of its power from nuclear.

 Electricity Production by Source (1999) 

Country	Production (billion kWh)	Fossil Fuel %	Hydroelectric %	Nuclear %	Other %
Austria	59.283	29.53	67.65	0	2.82
Belgium	79.829	40.01	0.42	58.33	1.24
Denmark	37.885	88.40	0.07	0	11.53
Finland	75.792	41.88	16.77	28.82	12.53
France	497.260	9.69	14.39	75.43	0.49
Germany	531.377	63.29	3.59	30.3	2.82
Greece	46.432	89.60	9.72	0	0.68
Ireland	19.542	94.42	4.23	0	1.35
Italy	247.679	79.09	18.08	0	2.83
Luxembourg	0.648	36.88	53.09	0	10.03
Netherlands	85.294	90.25	0.11	4.27	5.37
Portugal	41.696	79.97	17.25	0	2.78
Spain	197.694	57.71	12.10	28.28	1.91
Sweden	146.633	5.53	47.24	45.42	1.81
United Kingdom	342.771	69.38	1.55	26.28	2.39
Total European Union	2409.815	50.86	12.45	34.06	2.57
United States	3678.000	69.64	8.31	19.8	2.25

[Zeko]

Do you perhaps mean "Electrolysis to produce *hydrogen* for internal combustion"?

[StatesEnemy]

Ya! Thats the ticket...
The Helium we'll use to talk funny!

[DannyTN]

The Helium we'll use to talk funny!

And sing like the BeeGees!

[Willie Green]

Note to self: Gotta update chart,
data now available for year 2000.
France now at 77% electricity generated by nuke.

[Willie Green]

One of the reasons I get perturbed at the total lack of national leadership in devising a sensible Energy Policy:

Power plant planned

Sadly, this is yet another natural gas fired power plant.

Yes, natural gas burns very cleanly. It is also used for home heating and cooking. Not to mention myriad industrial and commercial uses. And to top it off, it's a leading candidate for powering fuel cells that'll supposed replace the combustion engine in future automobiles.

Anybody else see the problem with EVERYBODY wanting to go to natural gas at the same time?

Electric power plants should be built using nuclear or clean-coal technologies. Centralized generating plants are appropriate for a trained workforce to properly handle these fuels.

We shouldn't be "wasting" natural gas on centralized electric generation. Keep it available for widespread, safe distribution for all its other uses.

1 posted on 02/04/2002 5:25 PM PST by Willie Green (Go Pat Go!!!)

And sure enough, here comes Alan Greenspan, 1½ year later, saying we don't have enough natural gas to go around.

Sheeesh. Anybody think the nincompoops in Congress are gonna actually DO anything about it?

[Eric in the Ozarks]

Yup. Know about South Africa. Trouble is, we are like the frog in the kettle. We won't react like we did to the first energy shock in the 70s.

[Willie Green]

Updated

 Electricity Production by Source (2000) 

Country	Production (billion kWh)	Fossil Fuel %	Hydroelectric %	Nuclear %	Other %
Austria	60.285	28	69	0	3
Belgium	79.348	40	1	58	1
Denmark	35.792	84	0	0	16
Finland	75.356	41	19	28	12
France	513.920	10	13	77	1
Germany	537.330	63	4	30	3
Greece	49.581	92	7	0	2
Ireland	22.285	95	4	0	1
Italy	257.410	80	17	0	3
Luxembourg	0.468	58	26	0	17
Netherlands	87.953	90	0	4	5
Portugal	43.242	70	26	0	4
Spain	211.640	57	12	28	3
Sweden	144.620	6	54	37	3
United Kingdom	355.760	73	1	23	2
Total European Union	2474.990	51.35	12.59	33.22	2.89
United States	3799.944	71	7	20	2