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A permitting deal seems closer than ever — but possibly delayed til after the election.
Plus more on nuclear, EVs, China, and more, recorded live at our Heatmap House event at New York Climate Week.
The bipartisan proposal from the House Science Committee comes with the backing of the Fusion Industry Association.
Third Way’s head of climate and energy argues that both sides have lost voters’ trust, with serious consequences for our infrastructure.
Tales from a day of “thoughtful dialogues on energy, climate change, and human lives” on Day 3 of New York Climate Week.
The Commonwealth Fusion Systems CEO made his case at Heatmap House.
Without billions in new federal investment the United States may lose its pole position in the global race to be the first nuclear fusion superpower, Commonwealth Fusion Systems CEO Bob Mumgaard told attendees at Heatmap House in New York City.
When asked onstage whether Commonwealth Fusion could still develop its fusion aspirations at scale without U.S. government financing, Mumgaard said: “I think so – it’s a question of the timing and the place.” Then he suggested that the company — and the industry — might go elsewhere if the country doesn’t put more capital into the growing sector. “There are offers on the table to build nuclear fission power plants not in the United States, so we can do that.”
You’d be forgiven if you thought Commonwealth and nuclear fusion was already doing well. The Massachusetts-based pioneer in fusion technologies raised $1 billion in new investment just a couple months ago. Generally speaking, innovation in nuclear power is incredibly popular in Congress, which has an influential bipartisan Fusion Energy Caucus. Commonwealth has received public support from the Trump administration’s Energy Department, as has one of the Heatmap House sponsors, Inertia.
But we’re talking about nuclear fusion, a still-futuristic form of energy generation seeking to harness the power of stars exploding in contained environments. It’s an insanely promising tech moonshot.
Mumgaard said the company is aiming for its tech to provide electrons onto the grid by the 2030s. He also said a Fusion Industry Association request to Congress and the Trump administration for $10 billion of investment might be what’s needed for that power to be American first.
“We debated that [amount] with the industry association, and you have to say what gets the job done. It’s a disservice to lowball what’s needed,” he told my colleague Katie Brigham. “This is a very important thing. It’s an entirely new industry. Let’s treat it as such.”
He added his view that U.S. fusion development is essentially an energy security maneuver, and that competition with China on fusion should be seen as parallel to the race for dominance in artificial intelligence.
“Think about what it means in a technological race. Power is the thing that powers the next economy, right?” Mumgaard said. “All the geostrategic strife we have right now is about power in the form of natural resources. Who has them? What are they? What boats are they on through what body of water? Fusion takes all of that off the table.”
“We will not cease exports of U.S. diesel,” the Secretary of Energy told us at Heatmap House.
Secretary of Energy Chris Wright threw cold water on a potential diesel export ban, telling Heatmap executive editor Robinson Meyer that the president “didn’t endorse it.”
“We are open to any ideas to lower energy prices for Americans,” Wright said at our Heatmap House event at New York Climate Week. “We have a continual, thoughtful dialog based on the facts on the ground of what are the most practical steps moving forward, and it looks like right now we do need to grow the diesel supply in the United States.”
There could be some adjustments to the diesel industry, Wright told Rob, saying there may “be some tweak in where diesel flows out of U.S. refineries.” About a full-scale ban, however, he was unequivocal. “We will not cease exports of U.S. diesel.”
That stands in contrast to President Trump’s remarks Tuesday, when he told reporters, “I’ve said, ‘Let’s not send out the diesel.’ I’ve called for it. I’ve called for it within my people.” Politico reported Wednesday afternoon that the administration is “preparing” a 90-day export ban.
When asked if a diesel export ban would hurt America’s reputation as an energy superpower, Wright told Heatmap, “It certainly would have impacts.” But, he added, “I don’t think there’s serious consideration, although there’s always been a dialogue. I don’t think you will see a blanket ban on diesel. And yes, of course, we want to be the energy superpower supplying the whole world.”
Some Republicans in Congress have called for a diesel export ban, including Iowa Senator Chuck Grassley, who represents agriculture-heavy Iowa. High diesel prices impose a particularly large cost on two groups: farmers and New Englanders. Farmers need diesel to fuel equipment to harvest crops and trucks to move their goods, while millions of New Englanders rely on heating oil — which is virtually interchangeable with diesel — to heat their homes in the winter. Bills for heating oil may exceed $2,000 this winter, according to Mark Wolfe, the executive director of the National Energy Assistance Directors Association
Diesel prices today are sitting at just over $6.50 per gallon, according to AAA, up from $3.69 a year ago and $5.60 just a month ago.
