Nuclear power and nuclear-focused exchange traded funds (ETFs) have been pushed to the forefront as concerns about the environment and the rising cost of energy pick up steam. But not everyone is so sure nuclear power can overcome its bad reputation.
Last week, the 29th anniversary of the Three Mile Island meltdown was marked. The incident also marked a death blow to nuclear power in the United States and changed public perception of the industry, reports Keith Johnson for the Wall Street Journal.
Debate is raging about the future of nuclear power here: California Gov. Arnold Schwarzenegger says Three Mile Island is just a bogeyman intended to scare people away from nuclear power, while others are concerned that the question about how to deal with radioactive waste hasn’t been fully dealt with.
Either way, the nuclear power industry appears to be heating up. Seventeen power companies are making plans to build more than 30 nuclear plants, reports Morning Edition. In Tallahassee, Florida, the go-ahead was given to build the state’s first nuclear plant in decades.
Between the rising cost of natural gas, oil and an ever-growing population, there are many who are looking to nuclear energy as the solution.
There are two nuclear energy ETFs to take advantage of this growing sector:
- Market Vectors Global Nuclear Energy (NLR)
- PowerShares Global Nuclear Energy Portfolio (PKN), expected to launch on April 3
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.