Nuclear: The Best Alternative?
Now that it pays to invest in pollution reducing green technology, Cramer is going nuclear, which he believes is the cleanest, safest and most environmentally friendly way to produce mass power.
NRG Energy does a little less than 10% of its business in the nuclear complex. But it has filed applications for two new reactors in Texas that, if approved, would go online in 2014 and 2015. There hasn’t been a new nuclear reactor build on U.S. soil since 1979, so NRG’s move is significant.
David Crane, the CEO of NRG, told Cramer that he is focused on leading the nuclear charge and, in fact, NRG is moving faster than other energy companies in trying to gain approval for new nuclear reactors. In the end, nuclear power will provide a “significantly cheaper” way to create energy, Crane said, and it has the added benefits of being produced domestically and with zero air emissions.
While it only takes a relatively short time (about three years) to build a nuclear plant, the process is held up by another three or four years in approval processes. But Crane says a consensus is building in federal and state governments that nuclear is the power of the future. "The government now has done virtually everything they need to do," he said. Now it’s up to the industry to keep up the momentum.
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