Dutton launches nuclear virtue signalling for coal

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Sigh. There is no saving us from the culture wars:

The Coalition’s energy plan is likely to include next-generation large-scale nuclear reactors – not just the small-modular reactors – in a policy that will go to shadow cabinet next month as a detailed and costed proposal.

Opposition energy spokesman Ted O’Brien told The Australian that the Coalition’s energy policy would likely not be limited to the small modular reactors still in development but would also include larger next-generation nuclear power plants as part of a broader energy mix.

“I wouldn’t touch old Soviet-era nuclear reactors with a barge pole, but new and emerging nuclear technology is something else altogether,” he said. “Any coal-to-nuclear strategy should consider different types of new and emerging nuclear technologies, from advanced micro reactors to small modular reactors and next-generation large reactors.”

This is a breathtakingly stupid policy and politics.

There are no small modular reactors (SMRs) so now we’re going to build the real thing instead at immense expense, for no good purpose.

At the local level, no suburb will agree to have them.

At the national level, nuclear reactors have no more supply security than renewables and battery storage. We might have uranium. But we have no atomic reactor expertise or IP.

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It would be much easier to establish local supply chains for renewables so they represent the better soverign risk play.

Regarding carbon output, nuclear power would not come online before 2040. By then, we could already be close to net zero if the current renewable transition is managed correctly.

In terms of cost, nuclear can’t compete, and this before adding the certain massive cost blowouts that come with the Australia Tax:

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This entire debate is balderdash.

All we must do is reserve some East Coast gas as a baseload fuel to replace coal as it disappears.

15% of the volumes currently exported would be plenty. The same policy is extant in WA.

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Nuclear is the new carbon capture and storage. A vague gesture at caring using non-existent technology to extend the life of existing coal interests.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.