John Arnold

At its peak, Vogel had 9,000 laborers on site, many of which were highly skilled craftsmen.

And trying to do that today in the United States is very difficult.

But we've proven we can build that.

We know it's a high-cost project.

And so there's a lot of effort to do advanced nuclear, and that's either the SMR, small modular reactor, that's fission, or through fusion.

I think the question is, we don't know what the economics of either of those are.

Number one, we don't know whether we can build a commercial fusion unit.

There's a lot of optimism in the industry.

It remains to be seen whether we can get there or not.

The greater question is, what are the all-in economics of that?

And that's a big unknown, because at the end of the day, you're competing in a commodity market.

And we've seen that we're willing to pay a little bit more

for a cleaner electron, but we're not willing to pay a lot more for a cleaner electron.

So it has to be cost competitive.

Optimally, it is the cheapest electron is one that minimizes emissions.

So I think that's the promise of nuclear

But these aren't coming anytime soon.

Even there are some pilot plants that are being drawn up today.

They may or may not have started construction on some of this.

I think most of these announcements are for the PR.