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The recent shift in US policy towards loosening nuclear regulatory oversight has reignited international debate about the balance between competitiveness and safety in the nuclear sector.
President Trump’s stated objective is for the United States of America to be highly competitive against every other nation. His actions to impose tariffs on goods imports is aimed at encouraging US consumers to buy American products, and for American industry to maintain its prices below those of the imports. These are both laudable objectives, but there are some obvious potential difficulties, not least the cost of labour, and the availability of domestic raw materials.
A firm policy bedrock is to ensure the availability of low-cost energy as demonstrated by the President’s ‘Drill, Baby Drill’ rhetoric, and the clearly stated desire for the US one day to annex Greenland (and even Canada) with the aim of acquiring large untapped mineral and fossil fuel reserves. The most recent US announcement to change and reduce nuclear regulatory oversite has raised some further concerns in the US itself and further afield.
The global nuclear industry regulatory environment has been derived from decades of scrutiny into the potential consequences inherent from nuclear activity. Medical evidence into the short and long-term effects of nuclear radiation underpins the nuclear regulatory umbrella.
Whilst nuclear regulations may be considered by some to be highly conservative, particularly within the nuclear industry itself, it has provided a safety platform that is understood by the general public and politicians, as well as by the nuclear industry itself. Any dilution of the safety environment which is driven purely by the promise of substantial financial gains to be achieved by the US has the potential to be damaging to the reputation of the global nuclear industry.
The personal ramblings and observations of John Ireland, Senior Consultant
John Ireland is an internationally experienced energy specialist and senior business executive skilled in the development, negotiation, and management of businesses and technically complex contracts within both the Government and private sectors. John has grown complex businesses in Asia and the Middle East, and assisted international organisations to develop business in and from the UK through joint ventures and partnerships.
Prospect is a multi-disciplinary practice with specialist expertise in the energy and environmental sectors with particular experience in the low carbon energy sector. The firm is made up of lawyers, engineers, insurance and risk management specialists, and finance experts.
This article remains the copyright property of Prospect Law Ltd and neither the article nor any part of it may be published or copied without the prior written permission of the directors of Prospect Law.
This article is not intended to constitute legal or other professional advice and it should not be relied on in any way.
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