Statements On Introduced Bills And Joint Resolutions
Floor Speech
By Mr. HATCH (for himself and Mr. Reid):
S. 3060. A bill to amend the Atomic Energy Act of 1954 to provide for thorium fuel cycle nuclear power generation; to the Committee on Energy and Natural Resources.
Mr. HATCH. Mr. President, today I rise to introduce the Thorium Energy Security Act of 2010 with my good friend and colleague Senator HARRY REID as an original cosponsor. Our legislation would establish a regulatory framework and a development program to facilitate the introduction of thorium-based nuclear fuel in existing and future nuclear power plants in the U.S.
The U.S. is dependent on foreign sources for about 90 percent of its uranium fuel needs. However, the most recent U.S. Geological Survey Thorium Mineral Commodity Survey confirms that the U.S. has the largest thorium deposits in the world.
I have been a longtime supporter of our Nation's nuclear power industry, and I expect to see a long future for nuclear power in this nation. I believe that future is enhanced with the possibility of thorium nuclear power as new source of nuclear power in the future.
Thorium-based nuclear fuel will remain in the reactor about three times as long as conventional nuclear fuel, thereby cutting the volume of spent nuclear fuel coming out of reactors by as much as two-thirds. Thorium nuclear fuel could also significantly reduce the possibility that weapons grade material would result from the process. Finally, a thorium fuel cycle can be used as a very effective and efficient means for disposing of existing plutonium stockpiles.
For these reasons, a number of governments throughout the world are aggressively seeking to establish thorium nuclear power as an element of their power supply. These governments want the benefits of nuclear power, without the difficulties associated with large volumes of waste, much of which can be turned to weapons grade material. Our aim with this legislation is to ensure that the U.S. does not fall behind the movement. I hope my colleagues will take a look at the potential for thorium-based nuclear power.
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