From today’s Wall Street Journal, an op-ed by Russian businessman, Oleg Deripaska

Russian businessman, Oleg Deripaska

“It is 50 years since the first commercial nuclear power plants began to generate electricity. Even in the dark days of the Cold War, these reactors, in France and the U.S., were seen as vital to the world’s future. They were expected to mark the beginning of a new peaceful atomic age that would help meet our energy needs.

Nuclear power now generates 15% of the world’s electricity. But a combination of alternative and plentiful energy sources, high costs, the impact of the Chernobyl disaster as well as scare campaigns has meant nuclear power has failed to live up to its pioneers’ loftiest ambitions.

Oil is, however, no longer cheap or plentiful. There are serious worries about future supplies. At the same time, demand for energy continues to accelerate to support the growth of developing economies. Climate change caused by emissions from fossil fuels poses a threat to our quality of life. It is no surprise that the balance is tipping back in favor of nuclear power.”

- Oleg Deripaska