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The Nuclear Comeback Is No Longer Ironic

Washington lines up an $80B build-out with Westinghouse/Cameco/Brookfield—energy dominance or state capitalism in a hard hat?

Ben Bush by Ben Bush
October 28, 2025
in Investing, U.S.
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The Nuclear Comeback Is No Longer Ironic
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In a world grappling with climate change and energy security, nuclear power is experiencing a resurgence that many experts deem necessary, albeit fraught with challenges. Once a pariah in the energy sector, nuclear energy is now being reconsidered as a viable solution to meet growing energy demands while reducing carbon emissions. However, the path to a nuclear renaissance is complex and laden with historical baggage.

For decades, nuclear power has been on a downward trajectory, losing market share and public favor. Its contribution to global electricity generation has halved from 18% in the mid-1990s to just 9% today, as more reactors have been decommissioned than constructed 1, 6. Yet, recent developments suggest that the tide may be turning. The Biden administration has signaled support for nuclear energy as part of its broader climate strategy, emphasizing the need for reliable, low-carbon energy sources 6.

The revival of nuclear power is not without its controversies. High-profile figures, including Bill Gates, have proposed reviving partially decommissioned plants like the infamous Three Mile Island, which became synonymous with nuclear disaster in 1979 2. Gates argues that modern reactors are significantly safer than their predecessors, equipped with advanced passive safety systems and improved containment measures 3. This assertion is echoed by many industry experts who believe that the technology has evolved to mitigate the risks that once plagued earlier nuclear facilities.

Despite these advancements, public perception remains a significant hurdle. A recent poll indicated that while a majority of Americans support nuclear energy as a clean energy source, concerns about safety and waste management persist 7. The shadow of past nuclear accidents continues to loom large, complicating efforts to gain public trust. As the debate heats up, some advocates are framing nuclear energy as a necessary component of a balanced energy portfolio, particularly in the context of geopolitical tensions and energy independence 4.

The urgency for a nuclear comeback is underscored by the ongoing energy crisis exacerbated by global conflicts, notably the war in Ukraine. President Trump recently floated a plan to revitalize Ukraine’s energy grid, which includes a significant role for nuclear power 4. This reflects a growing recognition that nuclear energy can provide a stable and reliable energy source, especially in regions where energy security is at risk.

However, the logistics of building new nuclear plants are daunting. The construction of nuclear facilities is notoriously expensive and time-consuming, often taking a decade or more to complete. Moreover, the industry faces regulatory hurdles that can delay projects further 1. As a result, while the desire for a nuclear revival is palpable, the practicalities of implementation remain a significant barrier.

In addition to traditional nuclear power, there is also a burgeoning interest in advanced nuclear technologies, including small modular reactors (SMRs) and even fusion energy. These innovations promise to deliver safer, more efficient, and more flexible nuclear power solutions. However, the timeline for commercial viability remains uncertain, with many experts cautioning that fusion energy is still years, if not decades, away from being a practical energy source 6.

As the nuclear conversation evolves, it is essential to consider the broader implications of a nuclear resurgence. While it may offer a pathway to cleaner energy, the challenges of waste disposal, public acceptance, and regulatory compliance cannot be overlooked. The nuclear industry must engage transparently with communities and stakeholders to rebuild trust and address concerns head-on.

In conclusion, the nuclear comeback is no longer an ironic twist of fate but a potential reality shaped by necessity. As the world seeks sustainable solutions to its energy challenges, nuclear power stands at a crossroads. With advancements in technology and a renewed focus on safety, the industry has an opportunity to redefine itself. However, whether it can overcome historical stigmas and logistical hurdles remains to be seen. The next few years will be critical in determining if nuclear energy can reclaim its place as a cornerstone of the global energy landscape.

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Ben Bush

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