By Damien Hoffman
March 14 2011
The nuclear power industry (NYSE:NLR) has made progress in Washington as Oil(NYSE:USO) prices put heat on the economy. Will the recent nuclear power plant explosions in Fukushima, Japan (NYSE:EWJ) shutdown future projects in the United States?
Nuclear is an awesome source of energy, but it’s a phenomenon in game theory where everything remains copacetic 99.99999% of the time and the other 0.00001% results in horrific environmental disaster. Now that the media is hyperventilating over video and headlines about nuclear power disasters, you better believe lobbyists for Oil & Gas (NYSE:USO), Coal (NYSE:KOL), Natural Gas (NYSE:UNG), and Solar (NYSE:TAN) are swarming Capital Hill to put the proverbial nail in the nuclear energy coffin.
A few other sectors losing steam will be nuclear power plant manufacturers such asGeneral Electric (NYSE:GE) and Shaw Group (NYSE:SHAW), and uranium mining companies such as BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RIO), Cameco Corp.(NYSE:CCJ), and Dennison Mines (AMEX:DNN).
As Japan now braces for the possibility of a nuclear meltdown, I’d bet my bottom dollar every nuclear power proposal under review in Washington or state utility commissions just got filed in that famous receptacle: the trash can. What do you think? Let us know in the comments below.