Axios Event: U.S. needs an "all-of-the-above" approach to meet urgent energy demand, leaders say

HOUSTON – The U.S. is looking at how an array of sources like nuclear and geothermal energy could help meet unprecedented demand, industry experts said at a March 12 Axios event at CERAWeek.

Why it matters: The energy-thirsty AI era and other factors have created an urgent national security and economic competitiveness situation.

Axios' Andrew Freedman and Ben Geman spoke with ClearPath CEO Jeremy Harrell, Citizens for Responsible Energy Solutions president Heather Reams and Jason Bordoff, founding director of Columbia University's Center on Global Energy Policy, at the event, which was sponsored by Constellation.

What they're saying: "I think these economic dynamics are going to drive an all-of-the-above energy approach," Harrell said.

Nuclear energy is the technology area with the most bipartisan support from lawmakers, Harrell said.

• Nuclear energy is here and ready to be deployed, Reams said. "It's only getting better, it's only getting more cost-efficient. It's 24/7, it can meet the demands."
• "I think the point is we absolutely need nuclear power to deal with the challenges of climate change … there is now a new sense of urgency because of economic competitiveness and national security," Bordoff said.

Yes, but: The focus on meeting growing energy demand has overshadowed the focus on reducing emissions, Reams said.

Zoom in: The Trump administration has signaled intentions to roll back Inflation Reduction Act tax credits and has also taken a stance against offshore wind.

• "The energy demand that we have in this country is significant, and all-of-the-above has been the underpinning of Republican thought processes on how we meet that demand," Reams said.
• "If we're moving from all-of-the-above to some-of-the-above, or who picks, that's dangerous … to start picking things that are and aren't okay for whatever reason does give me pause."

"I would not have pulled out of the Paris Agreement. I think we should stay the course with the Inflation Reduction Act, and I think we need stronger policies to deal with the externalities of carbon emissions," Bordoff said.

• But "if what you're thinking about first and foremost are issues of national security and economic competitiveness and resilience of supply chains … this is an administration that may be one of the most pro-nuclear administrations we've ever seen," Bordoff added.

Content from sponsored segment:

In a View From the Top conversation, Constellation EVP and chief strategy and growth officer Kathleen Barrón said that while the U.S. will need to add new sources of power generation to meet high energy demand, building on the capacity of current systems is also important.

• "[W]e do have tools on the system to address it. Yes, we are going to need to add new generation … but we have to use the system that we have efficiently as well."
• Nuclear energy is "an essential tool to an ultimately cleaner energy grid … it's a matter of building on that capacity, making sure that the assets that we have now remain on the system," she added.