Compliance professionals all over the country are paying close attention to the Trump administration’s deregulatory campaign. While deregulation in finance has received the most media attention, the uranium mining industry has been a quiet beneficiary of the President’s new regulatory scheme.
I authored a post last year regarding the nuclear energy industry’s current initiative to reduce operational costs to compete with the ever-dropping cost of energy production. Coined “Delivering the Nuclear Promise,” the initiative aims to enlist cost-cutting initiatives such as reducing staffing and removing superfluous requirements that maintain large margin to regulatory thresholds. Companies have set hefty goals to bring the cost of nuclear energy production down to values that would make nuclear energy competitive against less expensive, highly backed, and not-as-clean, forms of energy. This all needs to be done without sacrificing safety.
In order to achieve these drastic measures, I will set forth the case for on-the-rise technologies, that while the nuclear energy industry does not currently have the infrastructure to support, will aide in this transition, and as I argue, ultimately be required in order to sustain this clean and necessary form of energy.
Environmental and tribal groups have historically taken important roles in implementing and enforcing regulations to protect the environment. In a recent action, environmental and tribal groups took on the Bureau of Land Management (BLM) in an attempt to quash BLM’s elimination of a rule regulating the chemicals used in fracking. Although the final rule was originally officially published and implemented in 2015, it never went into full effect due to major challenges brought by the oil and gas industry. However, the Trump administration recently repealed the rule in its entirety, prompting a lawsuit arguing that the BLM is required to promulgate regulations as part of its mission.
Under the Obama Administration, the EPA passed Greenhouse Gas Emissions and Fuel Efficiency Standards for Medium-Duty and Heavy-Duty Vehicles. The regulation aimed to reduce climate change-causing emissions from the transportation sector, particularly the pollution caused by trucks. However, following the voiced concerns of stakeholders in the glider and trailer industry, the Trump Administration has issued a notice of repeal of emission requirements for glider vehicles, glider engines, and glider kits.
In October 2017, the Environmental Protection Agency (“EPA”) launched the Smart Sectors Program, a program that creates a collaborative partnership between the EPA and regulated sectors such as the automotive, agriculture, and mining industries. The program provides a platform for the EPA and regulated sectors to collectively develop approaches to protect the environment, public health, and the economy.
Power plants generate a residue after burning coal called coal ash, more formally known as coal combustion residuals (CCRs). In October 2015, the Environmental Protection Agency (EPA) established national guidelines to address the environmental dangers and health risks of coal ash. In May, nearly two years after the rule regulating the disposal of CCRs from electric utilities came into effect, industry officials petitioned the EPA to reconsider the rule, claiming adverse effects.
Environmental regulation has been heavily targeted by President Trump since the first days of his presidency, and even throughout his campaign. He announced early on that he wanted to cut general business regulations by at least 75%. His justification was that he wanted to remove red tape and delays and promote industry growth and economic development. The two industries potentially most affected by changes to environmental regulations are the oil industry and the coal mining industry.
One of this administration’s first big moves towards environmental deregulation was withdrawing from the Paris Accord. Against the advice of many leaders in the tech and fossil fuel industry, Trump chose to withdraw, stating that the terms of the accord were not as favorable to the United States. Experts say the support of the Paris Accord stems from a general trend towards reducing emission and creating more sustainable sources as a better investment than coal and oil, and a more “global framework”. Although some experts and leaders in the fossil fuel industry have been denouncing the changes, others are consulting with the Environmental Protection Agency (EPA) and the Interior Department on policy changes and leading the teams created to evaluate and remove regulations.
Nuclear power last made front-page news approximately six years ago. Unfortunately for nuclear power, headlines on the subject more often than not represent times of trouble. In regaining the spotlight in the wake of the recent announcement to discontinue construction of the new AP 1000 reactors, clean energy advocates and companies with predominantly clean energy portfolios are making headlines again. The issue, this time, is money.