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How Does Green Energy Push Impact Nuclear?

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    Westinghouse Electric Company CEO Daniel Roderick on the outlook for nuclear energy.

  • Duration 4:28
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-- energy in the president's push for green energy and to get off traditional sources.

No -- do you get along time right wants -- to be heard that it has been all about oil and gas boom.

So how is this affecting nuclear has bottom line what's in store for the future here to talk about that in a box.

Its music -- Westinghouse Electric's president and CEO Daniel Broderick.

Welcome so much -- welcome to the show.

You know you hear so much right now on one sign about green energy solar wind solar wind.

And -- this time you hear about the natural gas fracking -- and how cheap natural gases.

Do you feel left out.

Well you know I'm Melissa this.

First of all all of these energy sources are going to be very vital for the United States is energy future.

New -- has an incredible important role to play in that across the world you'll see countries who have have explored into renewable.

Now are coming back to new -- there little by little and I think that.

That overall having that stable safe reliable base load sources going to be very important because it has to be there 24 hours a day seven days a week.

Are you still seeing the investment now I mean it is it that -- -- in the business.

You know.

Is supplying reactors in utilities and are you still seeing the same amount of demand.

Well you know we're building -- units around the world right now that's eight more than we -- ten years ago so.

That the interest and -- still very strong we have created over 200000 jobs in the United States right now -- -- industry and it's still growing.

A lot of people focus on the nuclear waste issue you know when you talked about carbon emissions obviously nuclear stacks up in a great way -- is a clean energy but it's all about what happens when you're done with the waste in France they recycle it.

Any -- we're gonna do that here anytime soon.

I think there's some really exciting technology coming in in the next 1010 to fifteen years.

Of being able to -- use that fuel over and over again which we'll actually make new -- a real renewable.

Looking at it going forward.

What is climate like from Washington right now for -- -- you know we've actually had tremendously positive support for macular I mean in the.

-- wash serial -- doesn't feel like at a -- Did you hear the state of the union.

I did you know but -- both parties have actually been supporting new killer and so you don't have a big debate.

In this I'll give -- a couple of examples in the Czech Republic we have a tremendous support from the US government we -- Secretary Clinton.

Come over and actually support us and our bid work they're the ambassador rice and in country has been tremendously supportive so.

We are getting a tremendous amount of support out of Washington right now because we create a lot of jobs here in the United States -- Flip side of that for utilities is that natural gas is just really cheap right now in there -- so much fracking going on in this lies so high that it does seem like a real long term structural change in the price of natural gas -- battle back against that.

Well I mean I actually have lived through the gas boom and bubble when my career and and that keep in mind that natural -- is that is a commodity that will go up and down with price.

As demand does this three dollar gas for example two weeks ago in New York was 33 dollars.

So this ability to maintain this low price -- gas is something that the market has not really looked at.

And over the years if you watch gas price it's the volatility is its weakness it's kind of like trying to refer to gasoline in 1970 a 25 cents a gallon and today it's four dollars.

The demand drives that price and it's a global markets so China's competing for that same gas Europe is competing for that gas.

So why would you sell for three dollars and the United States if you could sell -- for fifteen Europe.

The costs of nuclear stack up for the consumer -- everything else -- mean if you go to the department of energy's website they say wind only -- eight cents a kilowatt hour they put them next to each other kind of drives me crazy because they read a lot of factors out -- Coal is ten cents nuclear is ten cents is wind cheaper than nuclear to the consumer.

We've not found anywhere in the world where wind is actually cheaper there several factors for that one is.

-- has to be subsidized if you look globally if the government -- subsidizing wind significantly.

You can't even afford to build them but the second part of -- -- it doesn't run all the time -- you have you need electricity 24 hours a day when you're asleep you still need electricity to keep your refrigerator going.

-- and that concept of purely reliable power 24 hours a day is really where the nuclear advantage comes back in.

It would it's working when it's subsidize its eight cents but that's almost products that are right that's number -- great -- thanks so much for coming on the show lives that time.

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