Canada’s Environment Minister Steven Guilbeault plans to let industries decide which cleaner forms of energy to embrace as they attempt to pivot from reliance on fossil fuels.
Proponents of nuclear energy point to the proven technology largely responsible for Ontario abandoning coal-fired power generation. However, concerns about cost and hazardous waste have hurt nuclear’s standing against wind and solar in transition talks.
Tom Rand, author of the book Climate Capitalism, says the environment minister, whose past includes anti-nuclear activism, has been “clever” in suggesting a market-based, hands-off approach.
“[Nuclear is] something that is too big, expensive and cumbersome to solve a problem where we need a fast, nimble, agile, low-cost energy solution,” he told Yahoo Finance Canada’s Editor’s Edition.
“[Guilbeault] knows perfectly well that nuclear cannot compete going forward in an open market.”
Got a question for Tom Rand? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.