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Should Australia embrace nuclear energy?

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The prospective inclusion of nuclear power in the Australian Liberal/National coalition’s 2025 election policy represents a bold political move with significant risks.

While proponents might argue that nuclear power is essential for achieving net-zero emissions by 2050, the term “nuclear” triggers largely negative reactions in the political arena.

Opposition Leader Peter Dutton has been forthright about nuclear energy being a part of the Coalition’s agenda, a tactic that has allowed the government to challenge and mock the idea.

The Coalition’s approach involves “new and emerging technologies,” including small modular reactors, rather than traditional nuclear plants. However, this technology is still emerging and does not provide an immediate solution to Australia’s transition away from fossil fuels.

Public opinion poses another significant hurdle. A 2022 Lowy poll found Australians divided on nuclear power, with 52% in favor of removing the ban and 45% opposed. The government could potentially leverage a “not in my backyard” campaign against the Coalition’s policy.

Waste disposal

Waste disposal also presents a challenge, as illustrated by the recent abandonment of a waste dump plan near Kimba in South Australia. This decision has raised concerns about the disposal of waste from nuclear medicine and has implications for Labor’s capacity to make tough decisions on nuclear submarines under AUKUS.

The economic viability of nuclear power is another obstacle, requiring convincing arguments about cost-effectiveness and energy transition challenges. Tony Wood, Director of the Energy Program at the Grattan Institute, highlights doubts about the feasibility of small modular reactors providing dispatchable power similar to gas peaking plants.

While the Coalition might perceive itself as ahead of the curve on small nuclear reactors, the broader political landscape remains uncertain.

Successive governments have considered the idea but realised the political implications probably weren’t worth the effort.

But then came along the AUKUS deal, which is bringing nuclear energy to Australia through the guise of regional security.

 

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Money

Why “stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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Will Tesla’s supercharger layoffs eventually payoff?

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Tesla CEO Elon Musk dissolves supercharging team, leaving customers stranded.

Elon Musk’s decision to disband Tesla’s electric vehicle charging team has left customers concerned about the future of the company’s charging infrastructure.

The move comes as a surprise to many, considering Tesla’s commitment to expanding its charging network to support its growing fleet of EVs #featured

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TikTok’s fate in the United States

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TikTok’s fate in the United States has never been more in doubt.

Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.

But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.

Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity

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