Expansionary Institute

REPORT: U.S. Nuclear Industry Poised for Expansion (Dominionization),

U.S. Nuclear Industry Poised for Expansion, Writes Joe Colvin in World Energy Magazine

HOUSTON--(BUSINESS WIRE)--Dec. 4, 2002--For America to continue sustainable growth, nuclear energy must expand its contribution beyond the 20 percent of all electricity consumed in the U.S., writes Nuclear Energy Institute president Joe Colvin in the new issue of World Energy magazine.

Although some activists want nuclear energy banned, it is the only large-scale energy option that is readily expandable, reliable and affordable, Colvin argues. He also notes that waste storage issues are being resolved, and production costs for nuclear have dropped below coal.

Other articles discuss future energy supplies. With natural gas production in decline, strong winter demand could trigger a shortage that spikes gas prices and creates a crisis, warns Matthew Simmons.

The energy investment banker headed the National Petroleum Council's Demand Task Force and subsequently researched Texas Railroad Commission figures.

Additionally, Harry Longwell, executive vice president of Exxon Mobil Corporation, writes that another 80 million barrels of oil equivalent/day must be found to meet global demand by 2010.

"The cost of doing so could reach $1 trillion, or about $100 million a year," he writes, substantially more than the industry is spending today. Longwell says the solutions include technological advances and improved cost efficiencies.

BP's Lord Browne of Madingley discusses America's energy needs, currently about 45 million barrels of oil equivalent per day, which will increase to 55 million within 10 years. He says the answer lies in the deep water of the Gulf of Mexico, where production has surpassed Alaska to become the number one source for the U.S.

World Energy and Energy Houston magazines, plus World Energy Television, are uniquely dedicated to providing an unedited forum for the leadership of the global energy industry. These media are the original voice of the industry, and the only source for commentary and opinion from top energy executives worldwide.

After five years of growth, World Energy magazine has converted from a twice-yearly to a quarterly publication schedule with the publication of the latest issue.

At WorldEnergySource.com, all previous magazine articles and videos can be accessed, as well as daily news items, corporate profiles, over 50 stock exchanges, commodity prices and links to major energy companies. It's all translatable into seven languages, and key-worded and indexed. Registration on the Web site is free.

CONTACT:

World Energy, Houston

Richard Loomis, 713/626-5369

SOURCE: World Energy

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12/04/2002 09:00 EASTERN

Thu Dec 5