Nuclear power is more than just an occasional plot device on The Simpsons. It's a source of energy that lights up our televisions and heats our microwaves. As we explore ways to harness alternative forms of energy, however, the future of nuclear power grows increasingly uncertain. Is nuclear power our best energy alternative, or is it time to pursue other options?
We’ve all heard the term, “don’t put all your eggs in one basket.” That term applies to our energy supply as well as it does to our investing decisions. By maintaining a diverse fuel supply, we ensure that changes in demand and supply, or in world markets, are not unreasonably disruptive to our economic well-being.
For example, in the aftermath of Hurricane Katrina, damage to oil rigs and refineries in the Gulf of Mexico caused much of our gas production and refining capacity to go off line for several days or weeks. By encouraging diversity, in the form of coal-to-liquids (creating diesel, gasoline, or transportation fuels from coal), and by encouraging the development and use of PHEVs (plug-in hybrid electric vehicles), we could diminish the impacts of relying so heavily on one fuel source from one region of the country.
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