Chevron CEO Mike Wirth recently expressed his support for small modular nuclear reactors, highlighting their potential role in the future energy landscape. Speaking at the Atlantic Council, Wirth emphasized the need for diverse energy solutions, particularly in light of the growing demand for carbon-free energy sources in the tech sector.
During his address, Wirth noted that small modular nuclear reactors have gained traction in the tech industry, with major companies like Google, Amazon, and Microsoft entering into nuclear energy agreements to support their AI operations. These companies require substantial electricity, and traditional carbon-free energy sources may not meet their needs quickly enough.
Wirth stated, "A way to decarbonize that would be with small modular nuclear in some of these remote locations. And so I'm a fan of the technology. I want to see it be successful. I think the world needs it, and there could be a role for a company like ours."
Wirth's comments come at a time when the energy sector is grappling with the urgent need for sustainable solutions. He challenged the notion of rejecting nuclear energy outright, arguing that a broader perspective is necessary to address climate change effectively.
"Are we serious about climate, or are we just trying to say no to things?" he questioned, advocating for the inclusion of various energy technologies in the conversation about climate solutions.
While Wirth is optimistic about the future of nuclear energy, his counterpart at Exxon Mobil, Darren Woods, offered a more cautious outlook. At a recent conference, Woods warned that the small modular reactors favored by Silicon Valley may not be commercially viable for another decade.
He stated, "If you’re betting on nuclear and something coming down the road, there’s a long road ahead of us." This perspective highlights the challenges and timelines associated with bringing new nuclear technologies to market.
As the energy landscape evolves, the dialogue around nuclear energy continues to grow. With leaders like Mike Wirth advocating for innovative solutions, the potential for small modular nuclear reactors to play a significant role in the future of energy is becoming increasingly recognized. The intersection of technology and energy presents both challenges and opportunities, and the industry's response will be crucial in shaping a sustainable future.
A worker has died at Harmony Gold's Mponeng mine following a seismic event that caused a ground collapse. This incident raises serious safety concerns in deep-level mining operations.
Crude oil prices remain stable despite a significant increase in U.S. crude stockpiles, influenced by supply disruptions and global demand concerns.
Iron ore prices have declined as supply concerns ease in Australia following the reopening of key ports after Tropical Cyclone Zelia. Despite this, demand pressures remain as analysts predict a drop in imports to China.
We're just a bunch of guys mixing up market news with our own brand of banter, giving you the lowdown on stocks with a twist at Walk The Street Capital.
