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The Owyhee River watershed is among the country’s largest areas of pristine wilderness. It’s also prime for green development.

On a stormy May evening in 1882, approximately 10 gigawatts of electricity split from the sky above southeastern Oregon and struck a cattleman named Hiram Leslie as he approached his camp on the Owyhee River.
Leslie’s horse died instantly; Leslie did not. Legend has it the pioneer survived for six days after the lightning strike — his brain pulsing and visible through his cleaved-open skull — only to finally expire in his bed back in the boomtown of Silver City, Idaho. Dugout Gulch, an 8-mile canyon near the ranchers’ camp that contains some of the most jaw-dropping scenery in all of Oregon state, was renamed in Leslie’s honor. One can’t help but wonder, though, whether the decision to rechristen also came from some nervous sense of deference to the land.
Today, Silver City is a ghost town, and Leslie’s grisly demise is relegated to a single sentence on a Bureau of Land Management sign lining the way down to a boat ramp that passing F-150s don’t bother braking to read. But the tremendous power and possibility of the Owyhee watershed has never been less in dispute — or, perhaps, more in jeopardy.
The Owyhee (pronounced “oh-why-hee,” an old spelling of “Hawaii” in honor of more doomed explorers) is a 7 million-acre ecoregion that runs through Oregon’s southeasternmost county, Malheur, though it spreads as far east as Idaho and as far south as Nevada. On Google Maps, it looks like a big blank space; the core of the Canyonlands is crossed by just three paved roads. In fact, it’s the largest undeveloped region left in the Lower 48. On a resource management map, the area reveals itself to be a complicated patchwork of BLM, tribal, state, Forest Service, and privately owned lands, as well as a smattering of quasi-protected “Wilderness Study Areas” and “Land with Wilderness Characteristics” that exist at the whims of Congress. The region contains many of the materials and geographic features necessary for the clean energy transition, making one of the most pristine regions in the state also potentially one of its most productive.
But it can’t be both.
In person, it’s easy to see why the area has excited developers. Towering river canyons inspire dreams of pumped storage hydropower. There has been talk of constructing a second geothermal plant in the area, and uranium mining has intermittently returned to the conversation. Gold and silver claims stud the hillsides, a testament to the presence of metals that, amongst other things, are used for making electric vehicle circuit boards and solar panels. Draw a line through the region’s gentler northern sagelands and you’ve plotted the proposed, much-needed Boardman-to-Hemingway transmission route to bring hydropower from Washington state to Boise, one of the fastest-growing cities in the nation. And just outside the Owyhee watershed, to the west, is the upper edge of the McDermitt Caldera, a shockingly remote volcanic depression where there is said to be enough concentrated lithium to build 40 million electric vehicles.
Even Leslie Gulch, with its weekend crowds from Boise and recent Instagram Reels virality, is “quietly open to mining,” Ryan Houston, the Bend-based executive director of the Oregon Natural Desert Association, told me when I met him in the Canyonlands last month.

Amid all this frenzy, Oregon Senators Ron Wyden and Jeff Merkley, local Shoshone-Paiute tribal leaders, and a large coalition of regional and national conservation groups are working to close off 1.1 million acres of the most ecologically important land to the development nipping at its edges. Their hope is that Congress will designate four “units” in Malheur County, including the upper and lower Owyhee, as a single federally protected wilderness area — a pipe dream, given the partisan dysfunction of the current House of Representatives. The more realistic alternative is for President Biden to swoop in with the Antiquities Act and make it a new national monument.
Such an action would be in keeping with Biden’s 30x30 executive order to conserve 30% of U.S. land and water by 2030. It could also be perceived as clipping the wings of the kinds of clean energy projects his administration has proudly touted and funded.
Potential land-use conflicts like these are part of why conservation goals and the current green building movement are often portrayed as incompatible, or at least in tension. But “conservation and clean energy build-out aren’t necessarily opposing forces,” Veronica Ung-Kono, an attorney and clean energy transmission policy specialist at the National Wilderness Federation, told me. “They’re just forces that have to figure out how to interact with each other in a way that makes sense.”
No one is more aware of this than the campaigners I spoke with in Oregon. “For us as an organization, something we’re pushing ourselves on is, ‘How do we say yes to where solar and wind should be?’ Rather than just, ‘No, not there, not there, not there,’” Houston, the organizer at ONDA, which is helping to manage the monument campaign, said by way of example. Later, he told me that by setting aside 1.1 million acres for an Owyhee Monument, the conservationists essentially say that the remaining 75% of the local BLM district is open for all other possible uses.
“We’re not closing off vast swaths of the high desert to renewable energy,” he said. “What we’re doing is protecting the best of the best, so we can focus on other types of development — like renewable energy or off-road-vehicle play areas — in places where it’s most appropriate.”
To better understand the land-use issues in Malheur County, I traveled to Boise last month to attend what’s called a lek, when sage grouse gather to perform their mating rituals. The visit was organized by the NWF, which is supporting the monument push with ONDA. On the appointed day, I left my airport hotel at 3:30 a.m., crossed the state line on a two-lane highway during what I later learned was the height of mule deer migration season, and followed a poorly marked gravel road literally off the map on my phone (which, for good measure, had no reception).
It was so dark in the Owyhee that I felt more like I was rattling across the bottom of the ocean than an actual terrestrial landscape. I repeatedly mistook the full moon for oncoming headlights whenever it briefly appeared from behind the hills, and at random intervals, my car would drop into shallow streams I didn’t see coming until I was already in them. As I approached Succor Creek Campground, the designated meeting spot, I became aware that I was being hemmed in by canyon walls — perceptible only as a blackness even blacker than that of the night sky. When I finally spotted the headlamp of Aaron Kindle, NWF’s director of sporting advocacy, my overriding sense of the Owyhee Canyonlands was that they were bumpy.
Needless to say, I had absolutely no idea at the time that I had driven directly beneath what might one day become the Boardman-to-Hemingway transmission line.
The B2H, as it’s known, would be a nearly 300-mile, 500-kilovolt interstate line to send hydroelectric power generated in Washington State down to Boise. The project has become a textbook example of the permitting woes facing transmission projects in America, however. “By the time we build this, B2H is not only going to be old enough to vote, it’s going to be old enough to go to a bar and have a drink,” Adam Richins, the senior vice president and chief operating officer of Idaho Power, the electric utility that serves southern Idaho and eastern Oregon, told me.
Richins likes to joke, but the B2H’s halting progress makes him weary. More than 18 years of environmental reviews, permitting revisions, archeological and cultural studies, siting headaches, and landowner protests have plagued the planning and implementation of the transmission line, which Idaho Power owns jointly with another northwest utility, PacifiCorp. (Set to break ground this fall, B2H recently stalled again due to a scandal involving an affiliated consulting firm’s work on an unrelated project.) Originally conceived as a way to help Idaho Power meet its clean-energy goals during the summer and winter peaks that follow the region’s agricultural calendar, “I will say now that if we don’t get some of these transmission lines permitted on time, it’s possible we’re going to have to look at other resources such as natural gas,” Richins said.
Though some early plans for the B2H would have seen it cut straight through the boundaries of a future Owyhee monument, the current proposal keeps the transmission path safely outside the existing Wilderness Study Areas that surround Lake Owyhee, the reservoir at the center of what could become the “Lower Owyhee Unit.” (Somewhat confusingly, the Owyhee River flows north into the Snake River, meaning its “upper” watershed is actually to the south.)
That’s not a coincidence. The monument proposal almost entirely consists of parcels pre-designated as Lands with Wilderness Characteristics and Wilderness Study Areas, both of which are managed by the BLM and exist in a kind of limbo until Congress decides what to do with them. “If you’re a developer of solar, wind, pump storage, whatever, you’re not going to put your project in an area that’s in a quasi-protected status because that makes it extremely hard to develop,” Houston said. In other words, it’s not that the monument boundaries were drawn to avoid projects like the B2H; they were drawn to “protect the most important areas, and the most important areas have been in this quasi-slash-temporary protected status for a long time.”
Still, the transmission lines wouldn’t be entirely out of sight. The planned B2H route crosses close to the scenic northern mouth of the Owyhee Canyon before it makes its southeast turn toward Succor Creek and the Idaho border, where I’d driven across its path. More to the point, any future monument designation would mean that if permitting reform actually happens and America begins a transmission-building boom, power lines connecting the various substations of the Northwest would have to go around it, requiring diversions of 50 miles or more. Richins told me that as far as Idaho Power goes, though, “I haven’t seen anything [in the monument proposal] that has made me overly concerned.”
So far, Biden’s team hasn’t given any indication of its thinking about an Owyhee Monument, even as it has picked up the pace on conservation efforts elsewhere. Eight other national monument campaigns are also competing for attention from a friendly administration that is by no means guaranteed to remain in office next year; these include efforts to conserve California’s Chuckwalla, which would create a contiguous wildlife corridor between Joshua Tree National Park and the Kofa National Wildlife Refuge, and Colorado’s Dolores Canyons, which have both ecological and Indigenous cultural importance. “We have shared with [the administration] our binder of support and all of our petition signatures — we’ve got like 50,000 petition signatures, and hundreds and hundreds of letters — and they have said, ‘Thank you, the Owyhee is on our radar, we’ve known about it for a long time, we are tracking it, we are following it,’” said Houston.
There were rumors in the conservation community before Biden expanded two California monuments just a couple of weeks ago, meaning Owyhee organizers might get a tip-off if or when the administration makes up its mind. But November draws closer every day, and the grapevine has stayed silent. Still, after previously thwarted attempts to protect the Owyhee in 2016, 2019, and 2022, organizers think they’ve negotiated a workable compromise: The monument proposal as it currently stands is less than half the size of an earlier, more contiguous 2.5-million-acre proposal Houston and other conservationists preferred. But it also means that much more land is available for green development.
Even some of the more controversial renewable energy projects in the area have been able to move forward. On the lone stretch of shoreline on Lake Owyhee that doesn’t fall within the monument proposal, Utah-based developers are exploring the construction of a pumped storage hydropower facility. Proponents say the technology is a solution for the intermittency concerns of solar and wind since the facilities pump water from a lower reservoir to a higher one during off-peak hours, then release the water to spin turbines and generate electricity during times of high demand — effectively, a kind of massive hydroelectric battery.
Pumped storage projects require very particular geographic conditions, namely steep slopes of 1,000 feet or more, to give the water enough gravitational potential energy to work. “You have to choose your sites carefully — there are bad places to propose doing pumped storage and there are great places,” Matthew Shapiro, the CEO of rPlus Hydro, the company behind the exploration project, told me.
Lake Owyhee, with its high plateaus, is one of 11 promising sites across the country rPlus Hydro has picked out. “We were looking at a site with about 1,600 feet of vertical drop and a very large existing lower reservoir, meaning we would only have to build an upper,” Shapiro said. The proximity to the existing Midpoint-Hemingway-Summer Line and the future Boardman-Hemingway line is also appealing since it would mean rPlus Hydro would only have to build a short transmission line from the site.
There are environmental concerns about pumped storage, including its possible effect on trout below the Owyhee Dam (which, despite being a Hoover Dam prototype when it was built in 1932, does not produce hydroelectricity but instead stores water for the local irrigation district). While there might be petitions, protests, and siting issues yet, rPlus Hydro’s pumped storage project will “do whatever it does entirely independent” of the Owyhee monument protection efforts, Houston said.
Other strange alliances abound. The local ranching community, for one, is largely on board with the congressional proposal to protect Owyhee — a minor miracle given that this corner of Oregon is also home to the wildlife refuge that was infamously occupied for 41 days by the Bundy brothers in 2016. Both that and the current monument proposal intentionally exclude any lands that would have overflowed into the more combative neighboring jurisdiction, where conservation efforts might have ignited a national-headline-making backlash.
“We don’t want the ranchers to be so pissed off that the first thing they do is go to the Trump administration” to appeal for a reversal, Houston said. The Owyhee monument is designed, in other words, to fly under the radar, lest it become another political tennis ball ricocheting between presidents like Bears Ears.
It’s designed to fly under the radar when it comes to clean energy projects, too. Houston and others were adamant that they don’t oppose the projects encircling the core conservation area — climate change, after all, is one of the biggest threats to the Owyhee, which is one of the fastest warming places in the entire county. Still, it was clear in conversations that the proposals are also spurring some of their urgency. “It’s about protecting what you have left,” is how Kindle, the NWF advocate I met at the Succor Creek Campground, put it to me.
More to the point, Houston told me that the lithium mining abutting what would become the Owyhee Monument’s westernmost unit, Oregon Canyon Mountains, is “a reminder of what can happen” if conservationists don’t act fast enough.
“You can see he is missing like four tail feathers. That one must be a fighter — and got his ass kicked.” Skyler Vold, an Oregon Department of Fish and Wildlife employee with the delightful title of “sage-grouse conservation coordinator,” stepped aside from the scope so I could check out the avian incarnation of Rocky Balboa.
The light was finally coming up over the Owyhee, but it was still so cold that my toes were starting to numb in my boots. That wasn’t what had my attention, though: At one point, Vold counted nearly two dozen sage grouse, all thumping away in the low point between two hills where they’d gathered for the lek. Kindle also spotted a lone elk on a faraway hillside, and we later heard the call of a sandhill crane, but the funny little birds with their spiky agave-leaf tails had us all enraptured.
No single creature better encapsulates the land-use fights in the West than the sage grouse. In 2018, the Trump administration stripped the birds of protections in order to open 9 million acres of the McDermitt Caldera to drilling and mining — mainly for lithium. While the Biden administration is considering new protections for sage grouse, of which there are only about 800,000 left and for whom the caldera is prime habitat, it has also dumped money into building up a domestic lithium supply chain. Sourcing lithium at home, however, will likely require access to McDermitt’s deposits.
Much of the caldera is located in Nevada, but the top rim bumps up into Oregon. It’s in this northernmost crescent that the Australian company Jindalee is considering opening its lithium mine. While the team told me it is still many years (and many environmental reviews) away from actually breaking ground, Jindalee’s executives also stressed that they see themselves as a critical player in America’s clean energy future if or when they do so.
“There’s a huge elephant in the room, which is: Where’s this lithium supply going to come from?” Ian Rodger, the Jindalee Lithium CEO, told me. The answer so far has been mainly from China, where lithium is “processed under really different social and environmental standards,” he said. “Our aspiration for the [Oregon] project is to develop it in the most responsible way.”
Simon Jowitt, an economic geologist at the University of Nevada, Reno, told me Rodger’s argument has a lot of merit. Social and environmental conditions are indeed “a lot better here than they would be in other countries,” he said, meaning that if we don’t extract the metals and minerals we’re going to use anyway locally, “then what we’re doing is we’re shipping problems away elsewhere.” There is ongoing discussion and division in the local Paiute and Shoshone Tribe about the economic and environmental pros and cons of mining near their community, as well.
The fact remains, however, that “as a human race, we need these metals and minerals if we want to do something meaningful about climate change mitigation,” Jowitt added. That requires stomaching a potentially sizeable physical footprint, especially in the case of lithium mining.
“If we are all going to go to electric vehicles by 2050,” Jowitt said, then that’s great — but policymakers and the public also “need to realize that there’s a mineral cost of this.”
Conservationists are quick to point out that mining laws in the U.S. — which have barely changed since Hiriam Leslie’s time — are stacked so in favor of the claimants that there is often no chance to get a word in edgewise. “Mining sure as heck trumps a funny chicken that goes ‘womp womp,’” is how Houston put it — a fair description of the sage grouse mating ritual. In the strange game of land-use rock-paper-scissors, mining also trumps cattle, which is why some local ranchers have approached the Protect the Owyhee organizers to unite against the miners. (There are slight differences in protections depending on whether the Owyhee is made a wilderness area by Congress or a monument by Biden; the latter option can’t be as prescriptive about flexible grazing operations for ranchers, which is why, on the whole, the ranching community strongly prefers a legislative route.)
Most of the would-be monument is outside the McDermitt Caldera, but the fear isn’t so much that any one transmission project or hydro facility or lithium mine would “ruin” the Owyhee. “Everyone says, ‘Well, why do you have to protect it? Is there a threat?’” Houston said. “There are potential threats; people have been talking about different things like interstate highways or transmission or new mines. If we wait until those threats are real, then we’ve got a conflict, and then everyone’s going to say, ‘Well, why didn’t you protect it before?’”
Ironically, some fear that a formal monument designation will draw attention from the crowds that are loving to death other popular parks across the West. Standing in Leslie Gulch, where the red blades of rhyolite rock strongly resemble plates on the back of an enormous Stegosaurus, I sympathized with the impulse to gatekeep the landscape; driving from one remarkable site to the next, we’d barely seen another car all day. That’s changing regardless of whether the Owyhee is signposted as a destination in name or not: Chris Geroro, a local fly fisher who’s been guiding on the Owyhee River for 16 years, said he’s gone from “being the only person on the river to being one of the people on the river.”
The landscape certainly leaves an impression. “You go over this hill and then all of a sudden, boom! You’re in this amazing canyon,” he told me, describing the reaction of his out-of-town clients when they visit. “I just watch their jaws drop and the surprise of ‘Where did this come from? This is an hour outside of Boise?’” Those people then go home and post pictures, and more people understandably want to visit. A monument could help address the currently mostly unmanaged recreation.
But if Biden declines to move forward on protecting the Owyhee and an indifferent or actively hostile administration takes office in January, then the Oregon Natural Desert Association will have to switch strategies. Houston told me his team is already considering alternative approaches like pursuing a wilderness designation through the legislative branch. If, in a worst-case scenario, Trump decides to go after the land in the Owyhee, ONDA is prepared to go to court.
As we were leaving Leslie Gulch, Houston told me that he studied to be an evolutionary biologist. “What evolutionary biology is all about is understanding how species evolve based on what they have at that moment. They go forward with what they’ve got,” he said. “That’s what we’re doing in conservation — we’re going forward with what we’ve got.”
When it finally came time for me to return to Boise, I retraced the route I’d taken that morning into Succor Creek. The light was fading, but there was still enough for me to make out the hoodoo rock towers and the rolling sagebrush hills that I’d missed in the dark on my way into the canyon. To my surprise, enormous high-tension transmission towers also came into view; I’d driven beneath them hours before without even realizing it. Now, the silver power lines — future companions of the B2H — looked gossamer in the setting sun.
I parked to take a photo, and when I got out of the car, I felt a staticky tingle, like how a storm might excite the hairs on your arm. It was probably just a Placebo effect of standing under transmission lines and having spent the day thinking about electricity. But at that moment, I would have believed it was the passing ghost of an old cattleman glaring in my direction or perhaps the presence of something yet to come, something buzzing with potential, slung over my head.
I returned to my car and continued on to the highway. Soon, houses and small towns started to reappear, and I followed their lights through the dark back to Boise.
Editor’s note: This story has been updated to clarify which version of the proposed federal protections for Owyhee the local ranching community approves.
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Deep Fission says that building small reactors underground is both safer and cheaper. Others have their doubts.
In 1981, two years after the accident at Three Mile Island sent fears over the potential risks of atomic energy skyrocketing, Westinghouse looked into what it would take to build a reactor 2,100 feet underground, insulating its radioactive material in an envelope of dirt. The United States’ leading reactor developer wasn’t responsible for the plant that partially melted down in Pennsylvania, but the company was grappling with new regulations that came as a result of the incident. The concept went nowhere.
More than a decade later, the esteemed nuclear physicist Edward Teller resurfaced the idea in a 1995 paper that once again attracted little actual interest from the industry — that is, until 2006, when Lowell Wood, a physicist at the Lawrence Livermore National Laboratory, proposed building an underground reactor to Bill Gates, who considered but ultimately abandoned the design at his nuclear startup, TerraPower.
Now, at last, one company is working to make buried reactors a reality.
Deep Fission proposes digging boreholes 30 inches in diameter and about a mile deep to house each of its 15-megawatt reactors. And it’s making progress. In August, the Department of Energy selected Deep Fission as one of the 10 companies enrolled in the agency’s new reactor pilot program, meant to help next-generation startups split their first atoms by July. In September, the company announced a $30 million reverse merger deal with a blank check firm to make its stock market debut on the lesser-known exchange OTCQB. Last month, Deep Fission chose an industrial park in a rural stretch of southeastern Kansas as the site of its first power plant.
Based in Berkeley, California, the one-time hub of the West Coast’s fading anti-nuclear movement, the company says its design is meant to save money on above-ground infrastructure by letting geology do the work to add “layers of natural containment” to “enhance safety.” By eliminating much of that expensive concrete and steel dome that encases the reactor on the surface, the startup estimates “that our approach removes up to 80% of the construction cost, one of the biggest barriers for nuclear, and enables operation within six months of breaking ground.”
“The primary benefit of placing a reactor a mile deep is cost and speed,” Chloe Frader, Deep Fission’s vice president of strategic affairs, told me. “By using the natural pressure and containment of the Earth, we eliminate the need for the massive, above-ground structures that make traditional nuclear expensive and slow to build.”
“Nuclear power is already the safest energy source in the world. Period,” she said. “Our underground design doesn’t exist because nuclear is unsafe, it exists because we can make something that is already extremely safe even safer, simpler, and more affordable.”
But gaining government recognition, going public, and picking a location for a first power plant may prove the easy part. Convincing others in the industry that its concept is a radical plan to cut construction costs rather than allay the public’s often-outsize fear of a meltdown has turned out to be difficult, to say nothing of what actually building its reactors will entail.
Despite the company’s recent progress, I struggled to find anyone who didn’t have a financial stake in Deep Fission willing to make the case for its buried reactors.
Deep Fission is “solving a problem that doesn't actually exist,” Seth Grae, the chief executive of the nuclear fuel company Lightbridge, told me. In the nearly seven decades since fission started producing commercial electrons on the U.S. grid, no confirmed death has ever come from radiation at a nuclear power station.
“You’re trying to solve a political problem that has literally never hurt anyone in the entire history of our country since this industry started,” he said. “You’re also making your reactors more expensive. In nuclear, as in a lot of other projects, when you build tall or dig deep or lift big and heavy, those steps make the projects much more expensive.”
Frader told me that subterranean rock structures would serve “as natural containment, which also enhances safety.” That’s true to some extent. Making use of existing formations “could simplify surface infrastructure and streamline construction,” Leslie Dewan, a nuclear engineer who previously led a next-generation small modular reactor startup, told IEEE Spectrum.
If everything pans out, that could justify Deep Fission’s estimate that its levelized cost of electricity — not the most dependable metric, but one frequently used by solar and wind advocates — would be between $50 and $70 per megawatt-hour, lower than other SMR developers’ projections. But that’s only if a lot of things go right.
“A design that relies on the surrounding geology for safety and containment needs to demonstrate a deep understanding of subsurface behavior, including the stability of the rock formations, groundwater movement, heat transfer, and long-term site stability,” Dewan said. “There are also operational considerations around monitoring, access, and decommissioning. But none of these are necessarily showstoppers: They’re all areas that can be addressed through rigorous engineering and thoughtful planning.”
As anyone in the geothermal industry can tell you, digging a borehole costs a lot of money. Drilling equipment comes at a high price. Underground geology complicates a route going down one mile straight. And not every hole that’s started ends up panning out, meaning the process must be repeated over and over again.
For Deep Fission, drilling lots of holes is part of the process. Given the size of its reactor, to reach a gigawatt — the output of one of Westinghouse’s flagship AP1000s, the only new type of commercial reactor successfully built from scratch in the U.S. this century — Deep Fission would need to build 67 of its own microreactors. That’s a lot of digging, considering that the diameters of the company’s boreholes are on average nearly three times wider than those drilled for harvesting natural gas or geothermal.
The company isn’t just distinguished by its unique approach. Deep Fission has a sister company, Deep Isolation, that proposes burying spent nuclear fuel in boreholes. In April, the two startups officially partnered in a deal that “enables Deep Fission to offer an end-to-end solution that includes both energy generation and long-term waste management.”
In theory, that combination could offer the company a greater social license among environmental skeptics who take issue with the waste generated from a nuclear plant.
In 1982, Congress passed a landmark law making the federal government responsible for the disposal of all spent fuel and high-level radioactive waste in the country. The plan centered on building a giant repository to permanently entomb the material where it could remain undisturbed for thousands of years. The law designated Yucca Mountain, a rural site in southwestern Nevada near the California border, as the exclusive location for the debut repository.
Construction took years to start. After initial work got underway during the Bush administration, Obama took office and promptly slashed all funding for the effort, which was opposed by then-Senate Majority Leader Harry Reid of Nevada; the nonpartisan Government Accountability Office clocked the move as a purely political decision. Regardless of the motivation, the cancellation threw the U.S. waste disposal strategy into limbo because the law requires the federal government to complete Yucca Mountain before moving on to other potential storage sites. Until that law changes, the U.S. effort to find a permanent solution to nuclear waste remains in limbo, with virtually all the spent fuel accumulated over the years kept in intermediate storage vessels on site at power plants.
Finland finished work on the world’s first such repository in 2024. Sweden and Canada are considering similar facilities. But in the U.S., the industry is moving beyond seeing its spent fuel as waste, as more companies look to start up a recycling industry akin to those in Russia, Japan, and France to reprocess old uranium into new pellets for new reactors. President Donald Trump has backed the effort. The energy still stored in nuclear waste just in this country is sufficient to power the U.S. for more than a century.
Even if Americans want an answer to the nuclear waste problem, there isn’t much evidence to suggest they want to see the material stored near their homes. New Mexico, for example, passed a law barring construction of an intermediate storage site in 2023. Texas attempted to do the same, but the Supreme Court found the state’s legislation to be in violation of the federal jurisdiction over waste.
While Deep Fission’s reactors would be “so far removed from the biosphere” that the company seems to think the NRC will just “hand out licenses and the public won’t worry,” said Nick Touran, a veteran engineer whose consultancy, What Is Nuclear, catalogs reactor designs and documents from the industry’s history.
“The assumption that it’ll be easy and cheap to site and license this kind of facility is going to be found to be mistaken,” he told me.
The problem with nuclear power isn’t the technology, Brett Rampal, a nuclear expert at the consultancy Veriten, told me. “Nuclear has not been suffering from a technological issue. The technology works great. People do amazing things with it, from curing cancer to all kinds of almost magical energy production,” he told me. “What we need is business models and deployment models.”
Digging a 30-inch borehole a mile deep would be expensive enough, but Rampal also pointed out that lining those shafts with nuclear-grade steel and equipping them with cables would likely pencil out to a higher price than building an AP1000 — but with one one-hundredth of the power output.
Deep Fission insists that isn’t the case, and that the natural geology “removes the need for complex, costly pressure vessels and large engineered structures” on the surface.
“We still use steel and engineered components where necessary, but the total material requirements are a fraction of those used in a traditional large-scale plant,” Frader said.
Ultimately, burying reactors is about quieting concerns that should be debunked head on, Emmet Penney, a historian of the industry and a senior fellow at the Foundation for American Innovation, a right-leaning think tank that advocates building more reactors in the U.S., told me.
“Investors need to wake up and realize that nuclear is one of the safest power sources on the planet,” Penney said. “Otherwise, goofy companies will continue to snow them with slick slide decks about solving non-issues.”
On energy efficiency rules, Chinese nuclear, and Japan’s first offshore wind
Current conditions: Warm air headed northward up the East Coast is set to collide with cold air headed southward over the Great Lakes and Northeast, bringing snowfall followed by higher temperatures later in the week • A cold front is stirring up a dense fog in northwest India • Unusually frigid Arctic air in Europe is causing temperatures across northwest Africa to plunge to double-digit degrees below seasonal norms, with Algiers at just over 50 degrees Fahrenheit this week.

Oil prices largely fell throughout 2025, capping off December at their lowest level all year. Spot market prices for Brent crude, the leading global benchmark for oil, dropped to $63 per barrel last month. The reason, according to the latest analysis of the full year by the Energy Information Administration, is oversupply in the market. China’s push to fill its storage tanks kept prices from declining further. Israel’s June 13 strikes on Iran and attacks on oil infrastructure between Russia and Ukraine briefly raised prices throughout the year. But the year-end average price still came in at $69 per barrel, the lowest since 2020, even when adjusted for inflation.

The price drop bodes poorly for reviving Venezuela’s oil industry in the wake of the U.S. raid on Caracas and arrest of the South American country’s President Nicolás Maduro. At such low levels, investments in new infrastructure are difficult to justify. “This is a moment where there’s oversupply,” oil analyst Rory Johnston told my colleague Matthew Zeitlin yesterday. “Prices are down. It’s not the moment that you’re like, I’m going to go on a lark and invest in Venezuela.”
The Energy Department granted a Texas company known for recycling defunct tools from oil and gas drilling an $11.5 million grant to fund an expansion of its existing facility in a rural county between San Antonio and Dallas. The company, Amermin, said the funding will allow it to increase its output of tungsten carbide by 300%, “reducing our reliance on foreign nations like China, which produces 83%” of the world’s supply of the metal used in all kinds of defense, energy, and hardware applications. “Our country cannot afford to rely on our adversaries for the resources that power our energy industry,” Representative August Pfluger, a Texas Republican, said in a statement. “This investment strengthens our district’s role in American energy leadership while providing good paying jobs to Texas families.”
That wasn’t the agency’s only big funding announcement. The Energy Department gave out $2.7 billion in contracts for enriched uranium, with $900 million each to Maryland-based Centrus Energy, the French producer Orano, and the California-headquartered General Matter. “President Trump is catalyzing a resurgence in the nation’s nuclear energy sector to strengthen American security and prosperity,” Secretary of Energy Chris Wright said in a press release. “Today’s awards show that this Administration is committed to restoring a secure domestic nuclear fuel supply chain capable of producing the nuclear fuels needed to power the reactors of today and the advanced reactors of tomorrow.”
Low-income households in the United States pay roughly 30% more for energy per square foot than households who haven’t faced trouble paying for electricity and heat in the past, federal data shows. Part of the problem is that the national efficiency standards for one of the most affordable types of housing in the nation, manufactured homes, haven’t been updated since 1994. Congress finally passed a law in 2007 directing the Department of Energy to raise standards for insulation, and in 2022, the Biden administration proposed new rules to increase insulation and reduce air leaks. But the regulations had yet to take effect when President Donald Trump returned to office last year. Now the House of Representatives is prepared to vote on legislation to nullify the rules outright, preserving the standards set more than three decades ago. The House Committee on Rules is set to vote on advancing the bill as early as Tuesday night, with a full floor vote likely later in the week. “You’re just locking in higher bills for years to come if you give manufacturers this green light to build the homes with minimal insulation,” Mark Kresowik, senior policy director of the American Council for an Energy-Efficient Economy, told me.
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The newest reactor at the Zhangzhou nuclear station in Fujian Province has officially started up commercial operation as China’s buildout of new atomic power infrastructure picks up pace this year. The 1,136-megawatt Hualong One represents China’s leading indigenous reactor design. Where once Beijing preferred the top U.S. technology for large-scale reactors, the Westinghouse AP1000, the Hualong One’s entirely domestic supply chain and design that borrows from the American standard has made China’s own model the new leader.
In a sign of just how many reactors China is building — at least 35 underway nationwide, as I noted in yesterday’s newsletter — the country started construction on two more the same week the latest Hualong One came online. World Nuclear News reported that first concrete has been poured for a pair of CAP1000 reactors, the official Chinese version of the Westinghouse AP1000, at two separate plants in southern China.
Back in October, when Japan elected Sanae Takaichi as its first female prime minister, I told you about how the arch-conservative leader of the Liberal Democratic Party planned to refocus the country’s energy plans on reviving the nuclear industry. But don’t count out offshore wind. Unlike Europe’s North Sea or the American East Coast, the sharp continental drop in Japan’s ocean makes rooting giant turbines to the sea floor impossible along much of its shoreline. But the Goto Floating Wind Farm — employing floating technology under consideration on the U.S. West Coast, too — announced the start of commercial operations this week, pumping nearly 17 megawatts of power onto the Japanese grid. Japanese officials last year raised the country’s goal for installed capacity of offshore wind to 10 gigawatts by 2030 and 45 gigawatts by 2040, Power magazine noted, so the industry still has a long way to go.
Beavers may be the trick to heal nature’s burn scars after a wildfire. A team of scientists at the U.S. Forest Service and Colorado State University are building fake beaver dams in scorched areas to study how wetlands created by the dams impact the restoration of the ecosystem and water quality after a blaze. “It’s kind of a brave new world for us with this type of work,” Tim Fegel, a doctoral candidate at Colorado State, who led the research, said in a press release.
Rob talks about the removal of Venezuela’s Nicolás Maduro with Commodity Context’s Rory Johnston.
Over the weekend, the U.S. military entered Venezuela and captured its president, Nicolás Maduro, and his wife. Maduro will now face drug and gun charges in New York, and some members of the Trump administration have described the operation as a law enforcement mission.
President Donald Trump has taken a different tack. He has justified the operation by asserting that America is going to “take over” Venezuela’s oil reserves, even suggesting that oil companies might foot the bill for the broader occupation and rebuilding effort. Trump officials have told oil companies that the U.S. might not help them recover lost assets unless they fund the American effort now, according to Politico.
Such a move seems openly imperialistic, ill-advised, and unethical — to say the least. But is it even possible? On this week’s episode of Shift Key, Rob talks to Rory Johnston, a Toronto-based oil markets analyst and the founder of Commodity Context. They discuss the current status of the Venezuelan oil industry, what a rebuilding effort would cost, and whether a reopened Venezuelan oil industry could change U.S. energy politics — or even, as some fear, bring about a new age of cheap fossil fuels.
Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University. Jesse is off this week.
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Here is an excerpt from our conversation:
Robinson Meyer: First of all, does Venezuela have the world’s largest hydrocarbon reserves — like, proven hydrocarbon reserves? And number two, let’s say that Trump has made some backdoor deal with the existing regime, that these existing issues are ironed ou to actually use those reserves. What kind of investment are we talking about on that end?
Rory Johnston: The mucky answer to this largest reserve question is, there’s lots of debate. I will say there’s a reasonable claim that at one point Venezuela — Venezuela has a lot of oil. Let’s just say it that way: Venezuela has a lot of oil, particularly the Orinoco Belt, which, again, similar to the oil sands we’re talking about —
Meyer: This is the Orinoco flow. We’re going to call this the Orinoco flow question.
Johnston: Yeah, exactly, that. Similar to the Canadian oil sands, we’re talking about more than a trillion barrels of oil in place, the actual resource in the ground. But then from there you get to this question of what is technically recoverable. Then from there, what is economically recoverable? The explosion in, again, both Venezuelan and Canadian reserve estimates occurred during that massive boom in oil prices in the mid-2000s. And that created the justification for booking those as reserves rather than just resources.
So I think that there is ample — in the same way, like, Russia and the United States don’t actually have super impressive-looking reserves on paper, but they do a lot with them, and I think in actuality that matters a lot more than the amount of technical reserves you have in the ground. Because as we’ve seen, Venezuela hasn’t been able to do much with those reserves.
So in order to, how to actually get that operating, this is where we get back to the — we’re talking tens, hundreds of billions of dollars, and a lot of time. And these companies are not going to do that without seeing a track record of whatever government replaces the current. The current vice president, his acting president — which I should also note, vice president and oil minister, which I think is particularly relevant here — so I think there’s lots that needs to happen. But companies are not going to trip over themselves to expose themselves to this risk. We still don’t know what the future is going to look like for Venezuela.
Mentioned:
The 4 Things Standing Between the U.S. and Venezuela’s Oil
Trump admin sends tough private message to oil companies on Venezuela
Previously on Shift Key: The Trump Policy That Would Be Really Bad for Oil Companies
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Music for Shift Key is by Adam Kromelow.