Recent headlines about energy have certainly been fascinating. Experts are predicting the next decade will require more new electricity than any previous period in our country’s history.
In fact, a recent study conducted by S&P Global Commodity projects a 35-50 percent increase in electricity demand by 2040 driven by manufacturing growth, data centers and artificial intelligence, and mass electrification.
Clearly, our nation is behind the curve.
To meet expected demand will not require the “all of the above” approach. What’s needed instead is an “all that works” approach. Electricity produced from coal, gas and nuclear is what works.
With our vast natural resources, Wyoming finds itself in the catbird seat with a promising future. The shift to what works is already occurring.
One critical factor is the Trump Administration’s fresh new focus on a serious energy dominance policy. We’re seeing an aggressive and focused shift from the fecklessness of the last four years.
Action from the Trump Administration and Congress, as well as the Wyoming Legislature and Governor Gordon, has changed coal industry dynamics, easing the tax and regulatory burden and increasing market competitiveness. Wyoming coal is well positioned to continue meeting much of America’s power demand.
A renewed focus on revitalizing American nuclear capabilities is brightening up the future for another of Wyoming’s core industries: uranium. Wyoming has been the largest producer of domestic uranium for many years. It’s a safe and responsible enterprise.
With the looming massive power demand, the Wyoming uranium recovery industry is gearing up to provide material into the fuel cycle to feed the next generation of advanced, small and micro reactors. It’s an incredible opportunity for our state.
To be clear, our uranium and nuclear buildout will not harm our coal mines. Quite the opposite: we need both, and more of both.
To make this opportunity work for Wyoming, we need to bring our state statutes into line with other states. A bill being discussed by the Joint Committee on Minerals, Business and Economic Development would allow for nuclear manufactures to store spent fuels on site, something they are currently unable to do.
Spent nuclear fuel is currently stored and transported all over the country safely and has been for decades. This is far from something new; rather, it’s a commonsense update for Wyoming.
At its last meeting, the Joint Committee on Minerals, Business and Economic Development heard a detailed presentation from the U.S. Department of Energy’s deputy assistant secretary for spent fuel and high-level waste disposition. The presented facts about the safe and responsible processes of storing and moving spent fuel across the country were illuminating.
The proposed legislation is not a referendum on any certain project. And it is most certainly not an effort to open Wyoming to accept spent fuel from the rest of the country. The legislation would simply remove a barrier so that any proposed nuclear manufacturing project requiring on-site storage can be considered and either stand or fall on its own merits.
The Wyoming uranium industry has the capability to responsibly provide the resources necessary to power the renewal of our domestic nuclear fuel cycle on the front side. But this point is moot if we don’t move forward with the development and deployment of next generation of nuclear power technologies.
There has been a great deal of debate on this issue over the last few months, and no small amount of misinformation. It takes a certain amount of political gymnastics for one to voice support for core industries and mining jobs in Wyoming while actively thwarting efforts to build the customer base necessary for our producers to sell in to.
We now find ourselves at a crossroads. Is Wyoming going to use its resources and our robust manufacturing base to grow a strong industry, create good paying jobs, and generate revenue to keep the tax burden low on our citizens? Are we going to continue powering this country and restoring energy dominance? Or are going stand on the sidelines and let the opportunity pass us by because of misguided fears and misinformation? The whole country is watching.
Travis Deti is the Executive Director of the Wyoming Mining Association
