Despite the expansion of nuclear power plants to provide electricity for the United States and abroad, 51% of Americans polled are in favor of nuclear energy, while 43% are opposed. The remaining 6% are likely undecided, and it’s unknown whether they are in the process of changing their opinion.
It’s possible that those who are opposed, as well as those who are undecided, are unaware of the benefits provided by using nuclear energy to produce electricity.
While coal is still used to provide energy, it takes much more to provide the same amount of energy as natural uranium. In fact, just one kilogram can produce 20,000 times more energy than coal. It would take considerably more than a kilogram of coal to even approach that level of energy production.
When compared with coal and other traditional fossil fuels, nuclear fuel definitely generates more power–millions of times more, in fact. A 60 watt light bulb, for example, could be powered for four days with 1kg of coal. However, that same 60 watt light bulb, when powered by nuclear energy, would burn bright for 685 years.
The United States continues to be the largest producer of nuclear power. In another ten years, China, who is in the process of completing 100 new units, may be a competitor in the global economy. By investing in nuclear energy stocks with one or more publicly traded nuclear companies, it can assist with maintaining America’s lead position as a producer of nuclear energy.
Another reason to make a nuclear investment is due to the lower costs associated with producing this type of fuel. It has been suggested by the U.S. Nuclear Energy Institute that 78% of the costs associated with operating coal-fired plants are the fuel. To operate a gas-fired plant, the fuel costs are 89%, and the cost of uranium to operate a nuclear-fueled planet is 14%. When considering the front-end costs, however, this figure would double to 28%, which is still considerably less than for coal-and-gas-fired plant operations.
If you’re one of the 51% of Americans that support the use of nuclear energy to supply electricity, are you planning to make a nuclear investment?