Like graphic tees and bucket hats, nuclear power is back as countries look to meet rising energy demand, boost energy independence, and move to low-emission power sources.
What happened: The U.S. government released a plan to triple its nuclear energy capacity by 2050, including steps to build reactors, restart plants, and upgrade facilities. Around the world, there are about 65 reactors under construction, though most are in China and India.
- Several countries chose to phase out nuclear power after the Fukushima nuclear disaster in 2011, but are now reversing course as the demand for electricity grows.
- The rise of energy-intensive data processing for AI has played a role, with companies like Microsoft, Alphabet, and Amazon investing billions of dollars in nuclear energy.
Why it matters: Canada could become a critical producer of the uranium needed to meet the demand for nuclear energy, per the BBC, knocking Kazakhstan out of the top spot. The uranium found in northern Saskatchewan’s Athabasca Region is particularly high in quality.
Big picture: More than half of Canadians say they support nuclear energy, but key criticisms involve the creation of radioactive waste, which can take thousands of years to decay. It’s also why B.C., Québec, and Nova Scotia have banned nuclear plants or uranium mines.—SB