Washington D.C. – Josh Smith, energy policy lead at the Abundance Institute and author of "Powering Spaceship Earth," testified today before the House Oversight Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs, advocating for a resurgence of nuclear energy in the United States. Smith's testimony centered on the "big idea" that "Returning to a world where nuclear energy is safe, swift, and cheap is not only possible, it's living American memory," as stated in his social media post.
Smith, known for his advocacy for energy abundance, highlighted the historical precedent for efficient nuclear power development in the U.S. His appearance before the subcommittee underscores the growing bipartisan interest in nuclear energy as a reliable, carbon-free power source amidst rising energy demands and climate concerns.
The U.S. nuclear industry faces significant challenges, including high upfront capital costs, lengthy construction periods, and complex regulatory hurdles. According to the American Action Forum, while nuclear energy offers a cost-effective, clean, and reliable power source, its development has been stalled for decades. Regulatory costs and barriers, alongside technical complexity in construction, are frequently cited as deterrents for investors.
Despite these obstacles, there is renewed momentum for nuclear power. Recent legislative efforts, such as the ADVANCE Act passed in June 2024, aim to streamline regulatory processes and support the deployment of advanced nuclear technologies, including small modular reactors (SMRs). The Nuclear Regulatory Commission (NRC) is working to improve its licensing process, which has historically faced criticism for its duration and cost.
Public perception also plays a role, with a majority of Americans supporting more nuclear power, though solar and wind energy still enjoy higher favorability. Proponents argue that advanced reactor designs and SMRs could address past concerns regarding safety, waste management, and cost, potentially leading to a more efficient and economically viable nuclear future. The industry is looking to leverage existing infrastructure and foster domestic fuel production capabilities to strengthen the U.S. position in the global nuclear market.