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The Guardian
3 days ago
- Business
- The Guardian
Trump officials open up millions of acres in Alaska to drilling and mining
Millions of acres of Alaska wilderness will lose federal protections and be exposed to drilling and mining in the Trump administration's latest move to prioritize energy production over the shielding of the US's open spaces. Doug Burgum, the interior secretary, said on Monday that the government would reverse an order issued by Joe Biden in December that banned drilling in the remote 23m-acre National Petroleum Reserve-Alaska (NPR-A), the New York Times reported. The former president's executive order was part of a package of protections for large areas of Alaska, some elements of which the state was challenging in court when he left office in January. Burgum was speaking in Alaska on Monday accompanied by Environmental Protection Agency administrator Lee Zeldin, and energy secretary Chris Wright. He said the Biden administration had prioritized 'obstruction over production' and Biden's order was 'undermining our ability to harness domestic resources at a time when American energy independence has never been more critical'. In a post to Twitter/X, Wright said oil production was the 'engine of economic growth' in Alaska, funding more than 90% of the state's general revenue. 'Unleashing American energy goes hand in hand with unleashing American prosperity,' he wrote. Donald Trump declared a 'national energy emergency' on the first day of his second term of office in January, promising an avalanche of executive orders friendly to the fossil fuel industry and supporting his campaign message of 'drill, baby drill'. Environmental groups had long feared Alaska would be the US president's number one target given the state's abundance of untapped oil and gas reserves, and immediately criticized the move to open up drilling in an area crucial to the survival of imperiled Arctic species. 'The Trump administration's move to roll back protections in the most ecologically important areas of the Western Arctic threatens wildlife, local communities, and our climate, all to appease extractive industries,' Kristen Miller, executive director of the Alaska Wilderness League, said in a statement. 'This is another outrageous attempt to sell off public lands to oil industry billionaires at the expense of one of the wildest places left in America. 'These lands are home to caribou, migratory birds, and vital subsistence resources that Indigenous communities have relied on for generations. The public fought hard for these protections, and we won't stay silent while they're dismantled.' The NPR-A lies about 600 miles north of Anchorage, and is bordered by the Chukchi Sea to the west and Beaufort Sea to the north. It is the largest single area of public land in the US, the Times reported. It was created at the beginning of the 20th century as an emergency fuel reserve for the military, and expanded to full commercial development in 1976 by an act of Congress. Lawmakers, however, ordered that land conservation measures and wildlife protections should be given prominence. Trump's efforts to turbocharge drilling in Alaska, however, have not been as popular as he would have liked. Despite a promise to 'open up' the 19m-acre Arctic national wildlife refuge, a proposed auction of leases in January, authorized by the previous Congress but a crucial plank of the incoming president's energy strategy, did not attract any bidders. 'There are some places too special and sacred to exploit with oil and gas drilling,' Laura Daniel-Davis, the acting deputy secretary of the interior department, told the Times.
Forbes
26-05-2025
- Business
- Forbes
Trump's Nuclear Revival: Playing Catch Up
WASHINGTON, DC - MAY 23: U.S. President Donald Trump holds up one of four signed executive orders ... More boosting the U.S. nuclear industry in the Oval Office of the White House May 23, 2025 in Washington, DC. (Photo by) President Donald Trump signed four executive orders on May 23rd to enhance America's nuclear energy production capabilities. U.S. demand for electricity is projected to grow by almost 16% by 2029 after having been nearly flat for over two decades. A combination of factors is driving the need for more power, led by a jump in commercial construction, including data centers for AI-driven computing and manufacturing plants. Nuclear energy can offer a zero-emission source of stable baseload electricity even when the sun doesn't shine and the wind doesn't blow, but as the World Nuclear Association points out, almost all U.S. nuclear generating capacity comes from reactors built between 1967 and 1990. Nuclear sector reform in the US has been overdue since President Jimmy Carter and his successors hit the brakes on development and piled on too many regulations. Additionally, nuclear fuel and energy generation capacity, as well as the ability to enrich, are key factors for national defense, as stressed by Secretary of Defense Pete Hegseth, whom Trump invited to give brief remarks after Secretary of the Interior Doug Burgum and stood to the right of the Resolute Desk at the Oval Office signing ceremony. Each of the new executive orders tackles an issue to boost nuclear power generation capacity and cut the red tape that has slowed atomic energy development in the USA: Reinvigorating the Nuclear Industrial Base directs federal agencies to review various bottlenecks and seeks to guarantee a safe and efficient fuel cycle by addressing insufficient uranium supply, inadequate enrichment capacity, and the country's untenable waste storage regime. Measures include cooperation between the Department of Energy (DOE) and the Small Business Administration (SBA) to prioritize enabling qualified companies to progress the near-term deployment of advanced nuclear technologies. The order also addresses the lack of skilled workers needed to construct and operate the nuclear infrastructure, prioritizing associated apprenticeships in the trade as well as grants, loans and training programs for nuclear engineering. These actions aim to facilitate '5 gigawatt of power uprates to existing nuclear reactors and have 10 new large reactors with complete designs under construction by 2030.' Reforming Nuclear Reactor Testing at the Department of Energy orders a review and overhaul of the process DOE uses to certify test reactors, assigning a team consisting of members from relevant agencies reporting directly to the Secretary of Energy that will assist in the application process. It calls for the establishment of a pilot program for reactors to be constructed outside of national laboratories, using a similar approval process and specifically working with 'the DOGE Team Lead' on implementation. Additionally, the order calls for streamlining the environmental review process for reactors, noting 'The United States cultivated the effort to design and build the first Generation IV reactor for commercial use, but the Federal Government has effectively throttled the domestic deployment of advanced reactors, ceding the initiative to foreign nations in building this critical technology. That changes today.' Ordering the Reform of the Nuclear Regulatory Commission opens with an overall critique of NRC performance ('The NRC charges applicants by the hour to process license applications, with prolonged timelines that maximize fees while throttling nuclear power development…A myopic policy of minimizing even trivial risks ignores the reality that substitute forms of energy production also carry risk, such as pollution…'). It directs the NRC to conduct reviews with economic and security benefits in mind, as well as the typical health, safety, and environmental factors, citing 2024's ADVANCE Act provisions dictating that the licensing process does not unnecessarily inhibit civilian usage and public benefits of nuclear energy. The order also calls upon the NRC to work with its DOGE team to reorganize, reduce its headcount where needed, and redistribute expert employees to expedite the processing of applications and revise regulations and guidance documents, establishing deadlines for approvals, streamlining applications for SMRs, and other related tasks. 'Those deadlines shall be enforced by fixed caps on the NRC's recovery of hourly fees. The deadlines shall include …. A deadline of no more than 18 months for final decision on an application to construct and operate a new reactor of any type… and…a deadline of no more than 1 year for final decision on an application to continue operating an existing reactor of any type…' Deploying Advanced Nuclear Reactor Technologies for National Security focuses nuclear efforts both domestically and abroad for the sake of national security, noting '…mission capability resources at military and national security installations and national laboratories demands reliable, high-density power sources that cannot be disrupted by external threats or grid failures.' Within the United States, it directs the DOE and Department of Defense to ensure that advanced nuclear technology is used to power mission-critical infrastructure and military installations reliably. This includes reserving a bank of 20 metric tons of high-assay, low-enriched uranium to power AI and other infrastructure. Internationally, it calls for increased engagement in the civil nuclear sector and the pursuit and renegotiation of 'at least 20 new' 123 agreements, for transfers of nuclear materials, equipment, and knowledge abroad 'by the close of the 120th Congress to enable the United States nuclear industry to access new markets in partner countries.' The U.S. still operates the largest civilian nuclear reactor fleet in the world, but it is aging fast. These orders are necessary to allow the U.S. to catch up in the nuclear sector after effectively having abdicated its leadership role for decades. The lack of U.S. involvement opened the gates for Russia, France, Korea, and China to build their own nuclear capacity and leverage their expertise to export nuclear reactors abroad without significant American competition. Producing and enriching fuel domestically, as well as pursuing further international mining projects and reactor sales, will enable the U.S. to shore up its supplies of uranium, which have barely kept pace with demand, constraining growth and market expansion. Facilities, like enCore's Alta Mesa processing plant, will allow the United States to establish a ... More stronger domestic uranium supply chain. The U.S. will understandably prioritize sites in the homeland, Canada, Mexico, and the rest of the Western hemisphere for uranium mining and enrichment. Companies such as Ur-Energy, EnCore Energy, and Energy Fuels are restarting domestic mines and processing plants that were mothballed during 2005-2013 when the price of uranium fell, and, if the signal from Washington keeps coming in strong and consistently, will likely seek to develop more. While building a supply chain that America can control is clearly key, the need to move at speed will likely mean that the U.S. also has to 'go shopping.' Opportunities exist to secure a share of the fuel supplies that lie in Central Asia, where joint ventures to mine uranium in Kazakhstan and Uzbekistan are already dominated by Russia, China, France, and Canada. As the United States shores up uranium production, international suppliers of uranium, like ... More Kazakhstan, offer a way to meet growing demand for fuel, with the proper engagement. Similarly, Namibia is a major uranium producer in Africa, where – again, absent U.S. involvement – China is a major player. Some of countries in the continent that are rich in uranium, such as Niger and Gabon, may be delicate or difficult to deal with in the near term as both underwent military coups recently, with Niger turning hostile toward the French and more toward the Russians. However, Morocco is politically stable, and the French have been having a hard time clinging to their long-unchallenged policy of economic dominance in former African colonies, so opportunities may exist there if looked for carefully and persistently. To secure America's supply chain, in addition to building up domestic sources, the U.S. should establish itself as a partner in these regions to meet the need for more uranium, as well as several other critical minerals vitally necessary for the emerging high-tech developments. Otherwise, the country cedes them without a fight. The executive orders also set the stage for streamlining federal licensing and approval processes. While the construction of reactors has been hindered by overregulation by bodies like the NRC, it is crucial that experts remain in charge of safety. Otherwise, America risks another Three Mile Island, Chernobyl, or Fukushima, which would fuel fears of nuclear power and prompt a clampdown, with overbearing regulation stalling civilian nuclear power development for years, if not decades. Making the U.S. competitive in the nuclear energy space is vital to national security. As the President is clearly aware, adversaries like China are preparing to surpass the United States in nuclear power capacity, rapidly building reactors while forming a strong base of expertise to improve their nuclear technology. President Trump's executive orders are long overdue. Numerous previous administrations of both parties have unjustifiably caved to fear. The American nuclear industry fell victim to strategic myopia and the lack of imagination. Overregulation, the lack of fuel supplies, and an atrophied workforce in the industry all contributed to a lack of capacity and technological advancement. Now, with AI, heightened security needs, and ambitions to grow the American industrial base all demanding more electric power, and with the need for zero-emission generation, the country must unleash its nuclear energy potential to compete on the global stage.
Yahoo
25-05-2025
- Business
- Yahoo
Nuclear Energy Stocks Soar as Trump Prepares Executive Order
An executive order boosting nuclear energy production, permitting, and construction is expected to be signed as early as today. Nuclear energy stocks are up big on the news, but this may leave investors disappointed. 10 stocks we like better than NuScale Power › Reuters has reported that President Trump is planning to sign an executive order to speed up the permitting and construction of nuclear energy power plants in the U.S. as early as today. The market didn't ask questions and simply bid up nuclear stocks today. As a result, anything related to nuclear energy was up big, with Oklo (NYSE: OKLO) up as much as 31.3%, Centrus Energy (NYSEMKT: LEU) up 26.5%, Nano Nuclear Energy (NASDAQ: NNE) jumped 29.7%, NuScale Power (NYSE: SMR) was up 18.3%, Energy Fuels (NYSEMKT: UUU) rose 19.1%, and Uranium Energy (NYSEMKT: UEC) popped 26%. As of this writing, at 1:30 p.m. ET, there's no executive order signed, and the most we have is reporting from Reuters. It says the order would invoke the Defense Production Act and direct the Departments of Energy and Defense to speed up the construction of new nuclear reactors. The reporting indicates that reliance on Russia and China for enriched uranium is the basis for the order, with the administration hoping to push development on both private and public land. As with most executive orders, the impact may not be as big as investors might think. It will still take many years to permit and build nuclear power plants, and it's not clear if they would be cost-effective today anyway. So, the sentiment may be correct by the administration, but the financial impact for these companies may disappoint. The bounce is almost entirely built on speculation because most of these companies are either very low revenue or pre-revenue. They're developing technology or solutions for the industry, but that hasn't even manifested in paying customers to this point. As investors, that's a big risk to take for an industry that moves in decades, not months or years. The Obama administration tried to rejuvenate the nuclear industry over a decade ago, and that didn't work, so it's not clear why this would be different. This isn't the first time the nuclear industry has gone through hype cycles. You can see in the chart that long public stocks like Energy Fuels and Uranium Energy have been extremely volatile for two decades. But over that time, they haven't generated meaningful or sustainable earnings that investors can count on. I don't see any reason to think that's going to change this time around. Changes to the nuclear bureaucracy could take years, and by then, there may be a new administration. Financing and constructing nuclear power plants is also not a straightforward endeavor for utilities that may want to invest in the industry, given the high cost and uncertain payback period for projects. I think today's bounce will be another short-term move that will ultimately fall back to Earth as the nuclear industry fails to live up to the hype in the market today. An executive order doesn't change the challenge the industry has building projects economically, and until that changes, it's an area I'll stay out of. Before you buy stock in NuScale Power, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and NuScale Power wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $640,662!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $814,127!* Now, it's worth noting Stock Advisor's total average return is 963% — a market-crushing outperformance compared to 168% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy. Nuclear Energy Stocks Soar as Trump Prepares Executive Order was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
23-05-2025
- Business
- Washington Post
Trump signs executive orders to boost nuclear power, speed up approvals
WASHINGTON — President Donald Trump signed executive orders Friday intended to quadruple domestic production of nuclear power within the next 25 years, a goal experts say the United States is highly unlikely to reach. To speed up the development of nuclear power, the orders grant the U.S. energy secretary authority to approve advanced reactor designs and projects, taking authority away from the independent safety agency that has regulated the U.S. nuclear industry for five decades.
The Independent
23-05-2025
- Business
- The Independent
Trump signs executive orders to boost nuclear power, speed up approvals
President Donald Trump signed executive orders Friday intended to quadruple domestic production of nuclear power within the next 25 years, a goal experts say the United States is highly unlikely to reach. To speed up the development of nuclear power, the orders grant the U.S. energy secretary authority to approve advanced reactor designs and projects, taking authority away from the independent safety agency that has regulated the U.S. nuclear industry for five decades. The order comes as demand for electricity surges amid a boom in energy-hungry data centers and artificial intelligence. Tech companies, venture capitalists, states and others are competing for electricity and straining the nation's electric grid. 'We've got enough electricity to win the AI arms race with China,' Interior Secretary Doug Burgum said. 'What we do in the next five years related to electricity is going to determine the next 50" years in the industry. Still, it's unlikely the U.S. could quadruple its nuclear production in the timeframe the White House specified. The United States lacks any next-generation reactors operating commercially and only two new large reactors have been built from scratch in nearly 50 years. Those two reactors, at a nuclear plant in Georgia, were completed years late and at least $17 billion over budget. Trump is enthusiastic At the Oval Office signing, Trump, surrounded by industry executives, called nuclear a 'hot industry," adding, "It's time for nuclear, and we're going to do it very big.' Burgum and other speakers said the industry has stagnated and has been choked by overregulation. 'Mark this day on your calendar. This is going to turn the clock back on over 50 years of overregulation of an industry,'' said Burgum, who chairs Trump's newly formed Energy Dominance Council. The orders would reorganize the independent Nuclear Regulatory Commission to ensure quicker reviews of nuclear projects, including an 18-month deadline for the NRC to act on industry applications. The measures also create a pilot program intended to place three new experimental reactors online by July 4, 2026 — 13 months from now — and invoke the Defense Production Act to allow emergency measures to ensure the U.S. has the reactor fuel needed for a modernized nuclear energy sector. The administration is focused on boosting nuclear as 'affordable, reliable, safe and secure power,' said Michael Kratsios, director of the White House Office of Science and Technology Policy. The executive orders send a signal that 'America will build again,' Kratsios said. Energy Secretary Chris Wright echoed that sentiment on social media, posting that more reliable, secure and affordable energy sources — like geothermal, nuclear and natural gas — are the key to remaining the world's energy powerhouse. Trump has signed a spate of executive orders promoting oil, gas and coal that warm the planet when burned to produce electricity. Nuclear reactors generate electricity without emitting greenhouse gases. Trump said reactors are safe and clean, but did not mention climate benefits. The order to reorganize the NRC will include significant staff reductions but is not intended to fire NRC commissioners who lead the agency. David Wright, a former South Carolina elected official and utility commissioner, chairs the five-member panel. His term ends June 30, and it is unclear if he will be reappointed. Critics have trepidations Critics say the White House moves could compromise safety and violate legal frameworks such as the Atomic Energy Act. Compromising the independence of the NRC or encouraging it to be circumvented entirely could weaken the agency and make regulation less effective, said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists. "Simply put, the U.S. nuclear industry will fail if safety is not made a priority,' he said. A number of countries are speeding up efforts to license and build a new generation of smaller nuclear reactors to meet a surging demand for electricity and supply it carbon-free. Last year, Congress passed legislation that former President Joe Biden signed to modernize the licensing of new reactor technologies so they can be built faster. This month, the power company in Ontario, Canada, began building the first of four small nuclear reactors. Valar Atomics is a nuclear reactor developer in California. Founder and CEO Isaiah Taylor said nuclear development and innovation in the United States has been slowed by too much red tape, while Russia and China are speeding ahead. He said he's most excited about the mandate for the Energy Department to speed up the pace of innovation. The NRC is currently reviewing applications from companies and a utility that want to build small nuclear reactors to begin providing power in the early 2030s. Currently, the NRC expects its reviews to take three years or less. Radiant Nuclear is a clean energy startup based in El Segundo, California, that is building a nuclear microreactor. Chief Operating Officer Tori Shivanandan said the administration's support for the advanced nuclear industry will help ensure its success, and the executive orders mark a 'watershed moment" for nuclear power. ___ The Associated Press' climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP's standards for working with philanthropies, a list of supporters and funded coverage areas at
