Disapproving A Rule Submitted By The Department Of The Interior
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I rise today to speak about bipartisan legislation designed to strengthen our Nation's nuclear energy capacity. It is called the Nuclear…
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.
Mr. President, I rise today to speak about bipartisan legislation designed to strengthen our Nation's nuclear energy capacity. It is called the Nuclear Energy Innovation and Modernization Act. I am a strong supporter of American nuclear energy. It is a vital component of our ``all of the above'' American energy plan. My home State of Wyoming plays a key role in American nuclear energy supply. In Wyoming, we produce more uranium than any other State.
Nuclear energy is clean, safe, reliable, and affordable. It also provides a major boost to the economy. American nuclear plants provide thousands of jobs and millions of dollars in benefits to local communities. U.S. nuclear powerplants have run safely for decades, and many of them will serve our country for years and decades to come. But after decades of reliable power from our traditional nuclear powerplants, these nuclear powerplants are experiencing innovation with opportunities that are now taking shape in the nuclear industry. Increased private investment is occurring in nuclear energy, and it has led to improvements in safety, security, and in cost.
This is no longer a traditional nuclear industry. There are nuclear startups which are being backed by American entrepreneurs. Research and work are being done by Bill Gates, of all people. These folks envision fundamentally transforming nuclear energy technology. I believe the advances are exciting. The biggest challenges these innovators face, however, are the costs and delays from regulatory redtape. Many of these delays come from trying to navigate a regulatory system that was developed around one specific technology, which is water-cooled reactors. The traditional water-cooled reactors have powered our Navy and our electricity grid and have done it successfully for decades, but today's entrepreneurs are pursuing very different designs. They are using high-temperature gases, molten salts, and other high-tech materials to advance the safety, efficiency, and reliability of nuclear energy.
The nuclear regulatory system needs to be updated to enable this innovation. That is why I join with my colleagues in introducing the Nuclear Energy Innovation and Modernization
Act. Cosponsors include Senators Whitehouse, Inhofe, Booker, Fischer, Capito, and Manchin. We come together having introduced S. 512. Our bipartisan bill seeks to modernize the Nuclear Regulatory Commission by providing a flexible regulatory framework for licensing advanced nuclear reactors. The NRC needs a modern regulatory framework that is predictable and efficient. Reactor operators for both traditional and advanced reactors need timely decisionmaking from the Nuclear Regulatory Commission. At the same time, the Commission needs to maintain its ability to assess a variety of technologies and meet its mission of administering safety and security to the American people. Additionally, our legislation will update the Nuclear Regulatory Commission's fee recovery rules.
This measure is going to bring increased transparency and accountability to the NRC, while also improving the Commission's efficiency and timeliness.
This bill will also help to preserve the uranium producers who are essential to powering the technology. The Energy Information Administration reports that uranium production in 2016 was at its lowest level since way back in 2005. It is crucial that we restore our American uranium sector and preserve these important jobs.
Our bipartisan legislation is going to enable the development of innovative reactors with bold, new technologies. As a nation, we can either lead this technology revolution or we can defer to our competitors. China and Russia are already developing advanced technologies regardless of what we do here in the United States. America needs to be a leader of nuclear development. We need to create an environment where entrepreneurs can flourish. This is the way to create jobs here at home and revitalize our nuclear energy sector at the same time.
One way to enable innovation for advanced reactors is to provide a regulatory framework that is predictable and cost-effective and that maintains the NRC's safety and security mission. The bill we haved introduced, the Nuclear Energy Innovation and Modernization Act, does all of this.
This broadly bipartisan bill will strengthen American energy independence and foster innovation and job creation. I thank Senators Whitehouse, Inhofe, Booker, Crapo, Fischer, Capito, and Manchin for cosponsoring this legislation, and I urge its support.
I yield the floor.
I suggest the absence of a quorum.
Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.