I suspect the tofu-munching sandal wearers at Greenpeace are going to use a piece of today’s news to argue that nuclear power is unsafe and we should not be building more power plants. I want to get in first, however, and discount the argument before it is even made.

Nuclear power plant operator British Energy revealed this morning that “an issue with wire winding” had been discovered at Reactor 1 at its Hartlepool plant. The problem will delay the restart of production at the reactor and would mean that two more units are being taken out of service and checked for the same issue. The resumption of production of Heysham’s Reactor 2 is also now delayed. The shares have fallen 12%.

However, far from believing that this is an argument to support that nuclear power is unsafe. I believe it is actually an argument for building new nuclear power stations right now.

Greenpeace does not like nuclear power and wants to scupper any chance of these power stations being built at all; no compromise, no discussion, no nothing. They take a very dogmatic view, with this policy being stated in full on its website for all to see.

http://www.greenpeace.org/international/campaigns/nuclear

The organisation even opposes the international community’s experimental rector to look at fusion energy, which could provide virtually limitless energy without any emissions. If it works, it really could be that global energy panacea everyone is search for. However, Greenpeace says no, no, no…

In a move that could literally take us back to the Dark Ages, Greenpeace is acting like the American Christian right and trying to prevent scientific research. This is just not on. It would be almost as if the Enlightenment had never happened. I believe this makes Greenpeace an utter disgrace, as well as a threat to the future of the British way of life.

The Cambridge English Dictionary has the following definition of the word dogmatism:

“Stating your opinions in a strong way and not accepting anyone else's opinions.”

We’ve all met people like that before… at dinner parties… in the pub… or at university… They are generally the most boring and tedious people in the room.

It is the most arrogant point of view that anyone could possibly hold. They are saying that: “I am right and you are wrong and I won’t even countenance discussion.” And, as everyone knows, no-one is ever 100% right.

I do not believe that I am totally right on the issue of our future energy strategy. It would be foolish to suggest so and I do not like to consider myself as a fool. I consider myself a pragmatist rather than a dogmatist and this is what keeps me on the desirable side of the line of sanity.

Reality not dogma

I believe that all the facts point to nuclear being the only viable alternative to get us through the early part of the 21st century.

Our North Sea oil is running out... Oil imports are becoming more and more expensive... Russia is sewing up the European gas market (and we do not want to beholden to the Putins of this world for our future energy security)… Biofuels are an expensive con that just burns valuable food… Wind and solar power are unlikely to be able to provide all the energy for the 75 million people that are expected to be living in this country by the middle of the century.

However, unlike Greenpeace, I accept that I could be wrong… I am willing to listen to alternative arguments. I do not have my fingers in my ears at the same time as I hum very loudly when people disagree with me.

So, back to the news from British Energy that some dodgy wiring at one of its reactors has resulted in a series of closures….

The news from the UK’s fifth-largest electricity generator has wiped more than £500 million pounds from the value of the group. The company has had a very chequered financial history and things look grim in the short term. This is ironic.

It is ironic because electricity prices are rising, so this is a time when British Energy really should be making hay. Instead, its earnings have been falling. The company has been dogged with a series of technical hitches because its reactors are aging fast and this has held it back.

But the solution is quite simple for us and for British Energy…

BUILD MORE REACTORS… AND BUILD THEM NOW…

If we don’t do this, we could easily find ourselves suffering from energy poverty in the future. Energy poverty will lead to economic poverty and then personal poverty if we let it… This is my biggest fear if we do not get our policies right. Swampy et al may be happy living in a ditch eating tree bark, but I can assure you, no-one in my family wants to be in such a position. How about you…? P.S. If you enjoyed this article then sign up for Smart Commodities UK. It’s dedicated to searching out the investment trends that could provide our biggest profit opportunities for the next decade…

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