Is the U.S. Ready for a Nuclear Energy Boom?

Summary

WSJ What’s News Episode Summary

Title: Is the U.S. Ready for a Nuclear Energy Boom?
Host: Alex Osoloff
Release Date: July 27, 2025

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Introduction: The Potential for a Nuclear Revival

In the July 27, 2025 episode of What’s News Sunday, host Alex Osoloff delves into the ambitious plans aiming to rejuvenate America's nuclear energy sector. With rising electricity consumption and burgeoning demands from the tech industry, particularly artificial intelligence (AI), the discussion centers on whether the U.S. is on the cusp of a new nuclear age. Osoloff sets the stage by highlighting unprecedented private support and backing from the Trump administration, which seeks to quadruple nuclear power generation over the next 25 years.

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Current State of Nuclear Energy in the U.S.

The episode begins by contextualizing the current energy landscape:

• Electricity Demand: According to the U.S. Energy Information Administration, last year marked an all-time high in U.S. electricity consumption, with projections indicating continued growth fueled by AI advancements.
• Historical Hesitations: The legacy of nuclear accidents like Three Mile Island (1979) and Fukushima (2011) has cast long shadows over the industry. Additionally, competition from more affordable energy sources has historically dampened nuclear plant development.

Quote:
"Memories of meltdowns like Three Mile Island in 1979 and Fukushima in 2011 still linger due to factors like competition from cheaper energy sources," explains Osoloff (00:43).

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Small Modular Reactors (SMRs): A Game Changer

A significant portion of the discussion focuses on Small Modular Reactors (SMRs), which represent a transformative approach to nuclear energy:

• Design and Safety: SMRs are designed to be inherently safe, with technologies that make meltdowns virtually impossible. Clay Sell, CEO of X Energy, emphasizes that these reactors are fundamentally different from traditional models.

  Quote:
  "These are reactors that are intrinsically safe. In the case of our reactor, it cannot melt down," states Sell (02:37).

• Economic Viability: SMRs can be manufactured in factories and transported to installation sites, potentially reducing construction costs compared to traditional nuclear plants.

Challenges: Despite their promise, questions remain regarding the cost-effectiveness of SMRs and their capacity to meet the vast energy needs of the U.S.

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Changing Public Opinion and Political Support

Public perception of nuclear energy is undergoing a notable shift:

• Generational Shift: Sell points out a generational change in attitudes towards nuclear power. Younger generations (50 and below) are more receptive, viewing nuclear energy as a safe, emission-free power source essential for combating climate change.

  Quote:
  "The younger generation... recognize that no technology is a 100% solution... nuclear is a very safe form that makes no air emissions," Sell remarks (07:05).

• Political Backing: Bipartisan support has galvanized the industry, with recent executive orders from President Trump aiming to significantly expand nuclear energy production.

Quote:
Osoloff notes, "Recent executive orders from President Trump aim to quadruple nuclear power generation in the next 25 years," highlighting the administration's commitment (00:36).

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Economic and Infrastructure Considerations

Achieving the Trump administration's ambitious targets necessitates substantial investments and infrastructural advancements:

• Capital Requirements: Sell underscores the need for massive capital infusion, supported by government programs like loan guarantees and tax incentives to mitigate financial risks.

  Quote:
  "We have to recognize that it's going to take a tremendous amount of capital," Sell emphasizes (12:06).

• Supply Chain Rebuilding: The U.S. must revitalize its nuclear supply chain, which has dwindled since the 1990s, requiring the re-establishment of manufacturing capabilities and workforce expertise.

• Grid Modernization: The current electrical grid faces challenges in scaling to meet increased demand. Enhancements in transmission infrastructure and grid reliability are critical for integrating new nuclear power sources.

  Quote:
  Osoloff addresses grid concerns, stating, "The grid will just have to handle it, but it can be a slow process in some places," (09:25).

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Industry Collaboration and Future Projects

X Energy is at the forefront of this nuclear renaissance, actively collaborating with major industry players:

• Partnership with Amazon: X Energy announced a collaboration with Amazon to deploy up to 5 gigawatts of nuclear power over the next 15 years, marking a significant milestone for the industry.

  Quote:
  "We agreed to work together to deploy up to 5 gigawatts... in the next 15 years," Sell explains (11:07).

• Site Development: Plans are underway to construct up to 12 SMRs in Washington State, in partnership with Energy Northwest. Amazon has invested hundreds of millions of dollars into this project, signaling strong market confidence.

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Overcoming Obstacles: Path to a Nuclear Future

The episode concludes by outlining the critical steps needed to realize a nuclear-powered future:

1. Immediate Industry Mobilization: Initiating projects without delay is essential to meet the ambitious energy targets.
2. Financial Support and Incentives: Continued government backing through financial incentives will be pivotal in attracting investments and reducing risks for developers.
3. Supply Chain and Workforce Development: Rebuilding the nuclear supply chain and cultivating a skilled workforce are imperative to support the construction and operation of new reactors.

Final Quote:
Sell encapsulates the roadmap, stating, "We have to rebuild our supply chain enterprise to build nuclear power plants," highlighting the necessity of infrastructural and industrial revitalization (12:47).

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Conclusion

The episode of What’s News Sunday provides a comprehensive exploration of the potential resurgence of nuclear energy in the United States. With technological advancements like SMRs, shifting public opinion, and robust political support, the foundations for a nuclear energy boom appear promising. However, significant challenges related to financing, infrastructure, and public acceptance remain. The collaboration between industry leaders and major corporations, exemplified by X Energy and Amazon, offers a hopeful glimpse into a sustainable and powerful nuclear future.

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Produced by: Charlotte Gartenberg
Supervising Producer: Michael Kosmides
Deputy Editor: Chris Daniel Insley

Note: Advertisements and non-content segments from the episode have been excluded from this summary.

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Timestamps Reference

• [00:00 – 00:06] & [06:15 – 13:38]: Advertisements (skipped)
• [00:06 – 12:55]: Content Summary
• [02:10 – 12:47]: Key Discussions and Quotes

Transcript

[Alex Osoloff]

In business, they say you can have better, cheaper or faster, but you only get to pick two. What if you could have all three?

[Jennifer Hiller]

You can with Oracle Cloud Infrastructure. Try OCI for [e-mail] Wallstreet hey, what's News Listeners? It's Sunday, July 27th. I'm Alex Osoloff for the Wall Street Journal. This is what's News Sunday, the show where we tackle the big questions about the biggest stories in the news by reaching out to our colleagues across the newsroom to help explain what's happening in our world. On today's show, startups are aiming for an audacious reboot of America's nuclear energy program. The sector is receiving unprecedented private support and enthusiasm from the Trump administration. Could the US Be seeing the dawn of a new nuclear age? We'll get into what this would look like and what it would take to get there. US Electricity consumption reached an all time high last year, according to the U.S. energy Information Administration. And as AI continues to take off, that demand is only expected to grow. Recent executive orders from President Trump aim to quadruple nuclear power generation in the next 25 years. It's a challenging prospect for many Americans. Memories of meltdowns like Three mile Island in 1979 and Fukushima in 2011 still linger due to factors like competition from cheaper energy sources. The number of new nuclear plants in the US has declined since the 1990s, and traditional nuclear plants can cost tens of billions of dollars to build. Enter small modular nuclear reactors, or SMRs. Though designs vary, these small reactors can be built in factories at lower cost than a whole new plant and shipped to where they're needed. But questions remain, like what it will take to make them cost effective and whether they will be enough to meet America's energy needs. To talk about this, I'm joined by Clay Sell, CEO of X Energy, an SMR reactor and fuel developer, and WSJ renewable energy reporter Jennifer Hiller. Jennifer, let's get a sense of where we're at now. How is nuclear power different today than, say, the 70s?

[Alex Osoloff]

In some ways it's kind of like the 70s still. We have a lot of large reactors and that's what was being built in the 70s and 80s. But there is just a lot more talk right now and what seems to be action beginning where we're looking at what could be maybe a next era of construction where we might see a variety of kinds of reactors built.

[Jennifer Hiller]

And Clay, how are reactors different now?

[Clay Sell]

On a technical level, the technology is not the same. Fission is the same. The fissioning process is the same. But the reactors that are emerging today, including the technology we're developing at my company, X Energy, is very different. These are reactors that are intrinsically safe. In the case of our reactor, it cannot melt down. So when you think about what happened at Three Mile island or what happened at Chernobyl, we have developed a technology where it's physically impossible for that to happen. And so these are very different machines that we're bringing to the marketplace and that we'll be bringing online in the early2030s.

[Jennifer Hiller]

Jennifer, what do we know about the safety record of these designs?

[Alex Osoloff]

Some of the designs are meltdown proof and the regulators are the ones that will approve those designs. And some of the SMRs are going the path of doing sort of a smaller version of our existing reactors. So those would maybe have the potential. But we haven't had a lot of accidents in the U.S. and so there's a fairly good safety record.

[Jennifer Hiller]

It seems like nuclear is having a bit of a moment right now. What has changed to enable this?

[Alex Osoloff]

A few things have changed. If you look at maybe 10 or 15 years ago, people were talking about building a lot of reactors and that didn't end up happening basically for market reasons. Today there's a lot of new designs, there's a lot of tax policy support, there's a lot of government support for trying to start some new projects. So that's new. And you really need some level of government support to get things off the ground essentially in this industry. And, and on top of that, I think one of the things that looks fundamentally different this year versus even just two years ago is that you have a customer and that you have a customer in the tech industry potentially that is willing to help bear some of the capital risk of trying a new project. There's a lot of state interest in doing these projects, but you have an off taker customer that is willing in some cases to put some money on the table.

[Jennifer Hiller]

Clay, I'm curious which of the factors that Jennifer just talked about are making the biggest difference for your company?

[Clay Sell]

It is really the tremendous increase in demand for electricity that is largely and most popularly being driven by the hyperscalers and the big data center operators that have to operate 24,7. And most of the new growth in generation in the United States over the last 20 years has been in wind and solar, but they are not 24, 7. And it just so happens that in the last five or 10 years nuclear power has surged in popularity. Last March, Gallup released a poll showing that 61% of Americans favor the use of expanded nuclear energy. And so nuclear is popular. The need for 247 clean power is clearly evident. Political support from both Republicans and Democrats has materialized in a very aggressive set of policies to promote the industry. And all of those things have come together to create a very different environment for nuclear power in 2025.

[Jennifer Hiller]

Coming up, what would it take to make this nuclear future a reality? We talk through the obstacles and possibilities. After the break.

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[Jennifer Hiller]

We'Ve been discussing the opportunities for nuclear power at this moment, but I wonder about the obstacles. Public opinion on nuclear power in the US has become rosier in the past few years, but there's still some wariness. Clay, what are you hearing about how communities are thinking about safety and the possibility of nuclear accidents?

[Clay Sell]

There's a generational change that is happening. People that are older than me and I'm 58, they kind of have a very old and I would argue stale view of nuclear power from the last generation. They're children of the Cold War. They saw the China syndrome. They have views. But the younger generation, 50 and below, have a very different view. They have concerns about the health of the globe. They have concerns about climate change. They recognize that that nuclear is a very safe form that makes no air emissions. And they also recognize that no technology is a 100% solution. Everything has pluses and minuses. But when you electrify things, you need more and more electricity. And if it's coming from a coal plant that is belching carbon emissions and soot into the air versus nuclear power, which by independent data is the safest form of generation that has ever been deployed at scale.

[Jennifer Hiller]

Jennifer, I'm curious what you make of this.

[Alex Osoloff]

A big portion of the people who are supporters of nuclear energy just are looking at how much wind and solar and battery can you add and that you need some sort of baseload resource to complement all of that. And people landed on nuclear as this large existing asset. It's a backbone to the grid, essentially. It provides this stable resource. And I think just the further away in time that you get from something like Three Mile island in the US Opinions change a little bit. And I think these are probably not going to go into communities that don't want them. Generally, places that have nuclear plants like their nuclear plants, and would probably not be opposed to adding another reactor or adding some SMRs. That said, there's always going to be some level of opposition to any projects and people who are concerned about the potential for an accident or just what happens to the waste. I don't think that you're not going to have any opposition at all. There's going to be that for almost any kind of energy project, including this kind.

[Jennifer Hiller]

Jennifer, is the grid actually able to handle the amount of power that we're talking about here?

[Alex Osoloff]

Yeah, there's a big debate about that going on because when you look at the demand projections, they're pretty startling. And they would imply that we need to build a lot more of the wires and poles kind of transmission infrastructure to move power around and also a lot of new generation. And if the demand projections are anything in the neighborhood of what is being forecast, you're going to have to build out the grid more. And then you also have kind of an aging grid. And so a lot of equipment is also needing to be just replaced and repaired. Fundamentally, the grid will just have to handle it, but it can be a slow process in some places. And so you are already seeing instances where potential customers are being told in different parts of the country, we cannot connect you for electric service for five years, six years, seven years.

[Clay Sell]

There's an interesting opportunity with the grid as it relates to nuclear power. A lot of the transmission that's been built in the United States, as difficult as it is to do, has been built to move wind power from places that people generally don't live to the load centers where they do live. And the great thing about nuclear power is the geographic flexibility to site it relatively close to the load. So, for example, the first project that we're building, we're building for Dow Chemical, it is literally behind the meter at their plant in Seadrift, Texas.

[Jennifer Hiller]

So tell me about X Energy's plans, beyond the one that you just mentioned, to scale to have reactors across the U.S. i understand that there aren't currently any. Right?

[Clay Sell]

You're right. This new generation of reactors are in development in some places. We've begun construction, but none of them are operating today, and they won't come into operation until the early 2000 and 30s. But last year, X Energy announced a major collaboration with Amazon, and we agreed to work together to deploy up to 5 gigawatts, 5,000 megawatts of power for them in the next 15 years. We are working on a plan to build up to 12 units at a site in Washington State. That project has already begun in collaboration with the utility Energy Northwest. And Amazon is putting hundreds of millions of dollars of the project capital into that project to make it happen. And that news was a major game changer in our industry.

[Jennifer Hiller]

President Trump's recent executive orders aim to quadruple nuclear power generation in the next 25 years. What will it take to hit those targets that he's laid out?

[Clay Sell]

So, number one, we have to get started. The industry has to get moving immediately. Number two, we have to recognize that it's going to take a tremendous amount of capital. And so the programs in place that the government is providing, loan guarantees, kind of tax support, these first of a kind programs for the nuclear sector, those are very important to reduce the capital risk. And the third thing we have to do is we have to rebuild our supply chain enterprise to build nuclear power plants. We largely got out of the business of building nuclear power plants in the United States. So that's a generation of workers that have gone away. Its plants, its suppliers of nuclear equipment that have shut down, all of that has to be built back.

[Jennifer Hiller]

That was X Energy CEO Clay Sell and WSJ reporter Jennifer Hiller. Thank you both so much.

[Clay Sell]

Alex. Jennifer, great being with you.

[Alex Osoloff]

Thank you.

[Jennifer Hiller]

And that's what's new Sunday for July 27th. Today's show was produced by Charlotte Gartenberg with supervising producer Michael Kosmides and deputy editor Chris Daniel Insley. I'm Alex Osola and we'll be back tomorrow morning with a brand new show. Until then, thanks for listening.

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