LONDON - Countries are becoming more open to nuclear power due to costly natural gas and the need to combat harmful emissions, the International Energy Agency`s chief economist said on Thursday. "There`s a change in the mood in general terms," Fatih Birol told Reuters in a telephone interview. "Nuclear is important especially in the context of security of gas supply. It can also provide part of the solution on climate change as well," he said.

Renewed interest in nuclear comes as soaring oil and gas prices have left consuming countries worried about the effect of energy costs on their economies, and as concern mounts about climate change. Birol was speaking before the IEA, an adviser to 26 industrialised countries, next week publishes its latest annual long-term outlook on world energy supply, demand and investment.

Germany, Britain, the United States and other countries are becoming more interested in nuclear, but a question mark remains whether it will be backed by investment, Birol said. "There`s a renewed interest in nuclear in many governments, many countries," he said. "However, it remains to be seen how this interest will turn into concrete projects."

ACT NOW
The Paris-based IEA manages the emergency oil stockpile of industrialised countries used during supply breaks and is an advocate of energy saving. The World Energy Outlook to be published on Tuesday identifies increasing risks to energy security and soaring carbon dioxide emissions as threats to the global energy system, Birol said.

It is as urgent as ever to curb oil demand as well as emissions of greenhouse gases, he said. "If we want to see a different world in 25 years, we have to act now." Earlier, the Financial Times reported the IEA would for the first time in its 32-year history call on governments next week to help accelerate the building of new nuclear plants."We need a decision almost tomorrow if we are going to act before we reach a point of no return in climate and security of supply," Birol told the paper.

He confirmed the US$17,000 billion the agency last year calculated the world needed to invest in energy until 2030 had risen because of cost inflation. "It will definitely be revised up," he told Reuters.
By Alex Lawler and Deborah Haynes
(Planet Ark, 03/11/2006)
http://www.planetark.com/dailynewsstory.cfm/newsid/38805/story.htm