Guaranteed Energy, Go Nuclear

Over ten years I have watched energy policy go from being a relatively quiet backwater to something taking on a strategic importance that could be as crucial to our country’s future as defence. – Tony Blair

In today’s Times, the Prime Minister argues the case for a new energy plan. It is a persuasive case. What is clear is that Britain’s future energy security has become a major issue. Indeed, I believe that energy security has become the single most important strategic challenge for the British government. Get it wrong, and we can all kiss goodbye to long-term prosperity and influence in the world.

Putting the debate on climate change to one side, for me the key question is how Britain can move towards energy independence. If one looks at a table of ownership of known oil reserves, only one country in the top ten is a stable democracy – Canada. Gas reserve ownership is little better, with only the USA featuring. Clearly, Britain needs to start now to make plans for more energy independence as The Middle East and the former Soviet Union are hardly showing signs of imminent stable democracy. In particular, Russia has recently shown an intent to use energy supply as an instrument to bully its neighbours (and the rest of the world). Britain needs to build immunity to such intimidatory tactics.

Building nuclear power station should be part of our plan for energy independence. In contrast to hydrococarbons, uranium supplies come predominantly from stable democracies that are close friends of Britain. Canada is the world’s leading uranium producer, accounting for a third of global production and 15% of global reserves. Australia is the next largest producer, with one quarter of global production and 27% of global reserves. Our relationships with both countries are strong. We once lead the way in nuclear energy technology and hence I see no reason why we cannot do so again.

It is a tough decision to commission more nuclear power stations. Hard choices are what being in government is all about. There are undeniably issues regards cost and the disposal of nuclear waste. I believe, however, that these understandable concerns are more than outweighed by the strategic benefits of ‘owning’ our own power supplies. Clearly, we must concentrate on renewable energy resources and furthermore, address the amount of energy that each Briton uses. However, to rely on those two approaches alone would still leave Britain exposed to the vagaries of global politics. I would rather have nuclear power stations than ‘go cap in hand’ to despots and autocrats.