The Trump Administration is considering issuing executive orders in order to advance the construction of nuclear energy power plants, according to a report from The New York Times. The publication, which reviewed four drafts of the orders, notes that the administration believes that the U.S. is trailing China in terms of nuclear power progress and would like to revise federal safety regulations in order to speed up power plant construction.
Trump Administration Seeks to Boost Nuclear Power Plant Construction
One of the drafts states that 87% of nuclear reactors installed since 2017 are based on Russian and Chinese designs. “These trends cannot continue. Swift and decisive action is required to jump-start America’s nuclear renaissance,” reads the draft. The order drafts also brings up the idea of changing safety limits to radiation exposure and quadrupling nuclear energy capacity by 2050.
The VanEck Uranium and Nuclear Energy ETF (NLR) is trading higher on the news.
