A cautious look at nuclear energy

CHICAGO, May 7 (UPI) -- With crude oil prices approaching $123 a barrel, U.S. officials are cautiously re-examining nuclear power as an alternative energy source, officials said.

Industry officials in the nuclear energy sector attended a conference Tuesday in Chicago to discuss the financial, regulatory and waste issues looming over the feasibility of launching the construction of new nuclear power plants.

Construction on the most recent nuclear plant in the United States began in 1977 but officials with the Nuclear Regulatory Commission vetted nine applications for 15 new plants, the Chicago Tribune said Wednesday.

"We knew this day was coming and we do not intend to be a roadblock," said NRC Chairman Dale Klein.

The price of other fossil fuels such as gas and coal follow the market trends of oil but the operating cost of nuclear facilities remains relatively low. The difficulty, the Tribune says, is the multibillion-dollar price tag for constructing a facility.

Even though the U.S. government set aside $18.5 billion in loans for the nuclear power sector, industry officials said they worry that won't be enough to limit carbon dioxide emissions.