• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Even Shell Agrees with Climate Change!
  • 8 days America should go after China but it should be done in a wise way.
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Solar Stocks Rally on Optimistic Guidance 

Solar Stocks Rally on Optimistic Guidance 

The solar sector has snapped…

Europe’s Top Copper Producer Wants Nuclear Energy Labeled As Green

European industries could grow using clean energy only if the European Union (EU) decides to classify some nuclear power plant investments as sustainable, the head of Europe’s top copper producer, told Bloomberg in an interview.

“There’s no other logical way for the European industries to grow, based on clean energy, than through nuclear power,” Marcin Chludzinski, chief executive of Polish copper producer KGHM Polska Miedz, told Bloomberg.

“Even if we maintain profitable production despite rising gas and electricity costs, some European steel and iron makers aren’t able to do this any longer,” Chludzinski added.

KGHM Polska Miedz announced in September last year a preliminary agreement with U.S. firm NuScale Power to develop and build the first small nuclear reactor (SMR) in Poland.

KGHM Polska Miedz, a top electricity user in a country where coal currently makes up around 70 percent of power generation, is looking at low-emission solutions to power its operations as it aims to be carbon neutral in its own emissions by 2050.

Yet, the issue with whether nuclear power should be considered “green” has created a row among EU member states, with some strongly supporting the idea—including Poland and France—and others openly hating the possibility of putting a sustainability label on nuclear energy. The latter include Germany and Austria.

Related: Russia’s Oil Output Could Peak In 2023

Early this year, the European Commission launched expert consultations over whether nuclear power and some natural gas projects can be considered “sustainable” investments, receiving immediate backlash over “green nuclear” from Germany and Austria, which accused the EU’s executive branch of greenwashing.

Austria expressed opposition to nuclear power being labeled as “sustainable” and, unlike Germany, it criticized the European Commission for considering including some natural gas projects under the “sustainable” taxonomy.

Over the weekend, Germany again slammed the “green” nuclear classification.

“As the federal government, we have once again clearly expressed our rejection of the inclusion of nuclear energy. It is risky and expensive,” Vice Chancellor and Economy Minister Robert Habeck said in a joint statement with Environment Minister Steffi Lemke, carried by Reuters.


By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News