The French Nuclear Connection
The deal between the French nuclear behemoth Areva and the Chinese to build two nuclear power plants and run others...
The deal between the French nuclear behemoth Areva and the Chinese to build two nuclear power plants and run others in China may be part of an answer to that country's growing energy demand. Not to mention gross pollution. It also gives the now struggling nuclear business a big shot in the arm, and brings a little known, and growing power into focus as a major energy player: Sarkozy's France.
The Bush administration has hoped it could pump up nuclear as a clean alternative fuel. Since Three Mile Island the business has been in the dumps, mired in controversy over waste disposal and overall safety. As part of its expanding operations, Areva now wants to enter the U.S. market and has cut a deal with Constellation Energy, a Baltimore utility, to sell power plants here. The French, of course, have long played an important role in the oil and gas business with historic interests in Algeria, where the first major LNG exports to the U.S. originated; in West Africa, where the Gulf of Guinea has become a hot spot in the search for what's left of the world's oil and gas; and the Middle East.