This Thursday, the Senate Foreign Relations Committee passed the bipartisan International Nuclear Energy Act (INEA), which will support America’s nuclear export strategy .
INEA, sponsored by Sens. Jim Risch (R-ID) and Joe Manchin (D-WV), promotes engagement with ally nations to develop a civil nuclear export strategy.
Russia and China currently dominate the international nuclear energy market. They both offer competitive financing of up to 90% of the cost of a nuclear plant.
By exporting more American nuclear energy, the U.S. can supply a competitive alternative to Russia and China while lowering global emissions.
“More and more countries are looking towards nuclear energy for their future energy security,” said Sen. Risch. “Exporting new and advanced nuclear technologies like small modular and micro-reactors helps our partners meet their energy needs and is a strategic imperative in great power competition with Russia and China.”
What’s clear: Nuclear power is making a roaring comeback in America. The U.S. invented nuclear power, and is reassembling the pieces necessary to lead the world.
In other nuclear news, advanced nuclear developer X-energy is going public and merging with special purpose acquisition company Ares Acquisition Corporation to form a new company, X-Energy, Inc.
The $2 billion deal will close in mid-2023, and the merged company is expected to generate $1 billion to develop X-energy’s small modular reactor (SMR) designs.
X-energy’s products include the Xe-100 high-temperature gas-cooled reactor and accompanying advanced tri-structural isotropic (TRISO) fuel.
X-energy received $1.2 billion in funding from the Department of Energy’s Advanced Reactor Demonstration Program to bring their reactor online by 2028. The addition of private funding from the merger with Ares Acquisition Corporation will accelerate development of this crucial clean energy technology.
3. GOP leads with “rational environmentalism” at COP27
Last month, delegates from around the world gathered in Sharm El-Sheikh, Egypt for the 27th annual Conference of the Parties (COP27).
The Conservative Climate Foundation (CCF), of which ClearPath is a founding member, brought a delegation of House Republicans to COP27 to discuss climate and clean energy from a conservative viewpoint. Their conversation covered a wide range of topics:
Rep. John Curtis (R-UT) emphasized that Republicans deeply care about environmental issues and are eager to work towards bipartisan solutions.
Rep. Garret Graves (R-LA) stated the importance of making changes in a common-sense fashion that includes a wide portfolio of energy sources.
Rep. Dan Crenshaw (R-TX) discussed national security advantages of investing in clean energy here in the U.S. and maintaining American leadership over China.
Rep. Mariannette Miller-Meeks (R-IA) highlighted community benefits of investing in emissions reduction technology, particularly in her largely agricultural district in Iowa.
Plug in: Our Government Affairs Fellow Mallory Shaevsky discusses the “rational environmentalism” approach championed by the CCF delegation and recaps their conversation at the U.S. pavilion in a new blog post.
4. Podcast: “Things are getting better, a lot better”
With a new majority in the House, Republicans have new opportunities to lead on energy and climate policy.
Our CEO Rich Powell appeared on Columbia University’s Energy Exchange podcast alongside Aliya Haq of Breakthrough Energy to discuss what’s next in Congress.
5. Clean hydrogen and CCUS tech team up in California
A new project in California that will produce clean hydrogen from natural gas and capture and sequester carbon dioxide (CO2) is moving forward.
California Resources Corporation (CRC) will work with Lone Cypress Energy Services to develop a hydrogen facility in Kern County, California.
The facility will produce 30 tons of hydrogen per day to start and could potentially expand to 60 tons per day.
The project could permanently sequester up to 200,000 tons of CO2 per year through CRC’s Carbon TerraVault program.
What’s clear: California has aggressive decarbonization goals, and hydrogen has huge potential to connect energy generation, energy storage, transportation, and industry to meet them.
6. Coming down the pipeline
Wednesday, 12/14, 9:30am Rich Powell will testify before the House Ways and Means Committee at a hearing on “Promoting Sustainable Environmental Practices Through Trade Policy.” The hearing will be livestreamed here.
7. ICYMI
E&E News reports on conservative clean energy groups building support for Republican lawmakers as they prepare to take over the House.
C3 Solutions examines if environmental performance correlates with free market and limited government policies in Free Economies are Clean Economies.
Dave Banks argues in RealClearEnergy for bipartisan cooperation on energy and industrial policies in order to beat China.
Rep. Byron Donalds (R-FL) advocates for advanced nuclear power in the wake of Hurricane Ian’s effects on his district in The Floridian.
Carbon capture startup CarbonQuest is capturing CO2 emissions from a high rise apartment building in New York City to be utilized in concrete production.
Our Program Manager Savvy Bowman discussed the need for bipartisan carbon removal legislation on an Energy Future Initiatives panel.
That’s all from us. Thanks for reading and have a great weekend!
