Laws Firms Seek Talent with Nuclear Expertise
Sen. John McCain is calling for the construction of 45 new nuclear reactors by 2030, according to the AP. The report quotes McCain as saying the 104 nuclear reactors currently operating around the country produce about 20% of the nation’s annual electricity needs. “Every year, these reactors alone spare the atmosphere from the equivalent of nearly all auto emissions in America. Yet for all these benefits, we have not broken ground on a single nuclear plant in over thirty years,” he said. “And our manufacturing base to even construct these plants is almost gone.” That said, McCain has plans to build 45 new reactors by 2030, with a longer-term goal of adding another 55 in the future.
Democratic presidential candidate, Barack Obama, criticized McCain’s proposal, according to Reuters. Obama says his Republican rival lacks a plan for storage of the waste and it was not a “serious” energy policy. According to Reuters, Obama does believe that nuclear power should be in the mix when it comes to energy, but a solution must be found to either store or recycle the waste safely. The Presidential contender supports the use of federal funds to research such a solution.
Nuclear Power to Increase
Despite the issues of radioactive waste disposal and plant safety, nuclear power is expected to increase by nearly 50% by 2030, according to the Energy Information Administration. The EIA’s 2008 projection for nuclear electricity generation in 2025 is 31% higher than the projection published just five years ago.
The government report contends that concerns about rising fossil fuel prices, energy security, and greenhouse gas emissions support the development of new nuclear generation. The report adds the substitution of nuclear power and renewables for fossil fuels in the electric power sector would be a comparatively inexpensive way to reduce emissions, as would improving the efficiency of electric appliances.
Morgan Lewis also published a primer on U.S. Nuclear Regulation. In it, the firm states that with proposals before Congress calling for a reduction in carbon dioxide emissions by 50% to 80% compared with 1990 levels by the year 2050, numerous experts agree that nuclear energy will have to be part of a solution.
Expected Windfall for Law Firms
The U.S. Nuclear Regulatory Commission expects that applications to construct and operate 34 new reactors will have been filed by 2010, according to Legal Times. The report states the entire process of constructing a new plant is a decade-long process, citing industry estimates. As a result, law firms that dominate nuclear regulatory work can expect a surge in work…along with millions of dollars in legal fees.
A growing number of law firms are advertising experience in climate change issues and some have already begun expanding their environmental law and energy practices, including nuclear power. Executive search firm, A.E. Feldman, says that legal jobs are opening up and attorneys with expertise in this practice area are poised to benefit from the trend.
Morgan Lewis recently announced it expanded its energy practice, which represents clients in every major segment of the energy market, including nuclear power.
Additionally, just last year, Philadelphia-based Duane Morris, started a nuclear power practice. The Fulton County Daily Report quotes Charles W. Whitney, the Atlanta Managing Partner of Duane Morris, as saying, “Costs are down, and concern over global warming means people are looking for alternatives to fossil fuels as power consumption continues to increase.” Several power plant suppliers and contractors interested in building nuclear power reactors have become Duane Morris clients, although the firm declined to name them.
The report also lists a number of other firms pushing their nuclear expertise, including Troutman Sanders, Pillsbury Winthrop Shaw Pittman, and Winston & Strawn.
