The Australian reported that Malcolm Turnbull and his Resources Minister, Josh Frydenberg look to get Australia more involved in the nuclear industry.

According to the news:

[T]he long-term strategic stakes for the Australian economy, and the nation more broadly, are potentially immense. In a few weeks, the royal commission into the nuclear fuel cycle set up by South Australian Premier Jay Weatherill will issue an interim report, with a final report likely in April.

Turnbull recently commented:

I think a lot of South Australians feel like this … we have got the uranium, we mine it, why don’t we process it, turn it into the fuel rods, lease it to people overseas. When they are done we bring them back and we have got very stable geology in remote locations and a stable political environment.

That is a business that you could well imagine here. Would we ever have a nuclear power station in Australia? I would be a bit sceptical about that and I’m not talking about the politics.

We have so much other affordable sources of energy, not just fossil fuel like coal and gas but also wind, solar — the ability to store energy is getting better all the time and that’s very important for intermittent sources of energy, particularly wind and solar. But playing that part in the nuclear fuel cycle I think is something that is worth looking at closely.

Click here to view the full article. 

The post Is Nuclear Energy Good For Australia’s Economy? appeared first on Investing News Network.