John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
John Taylor, Professor of Economics at Stanford University and developer of the "Taylor Rule" for setting interest rates | Stanford University
Stanford students Mandy Alevra, Nuri Capanoglu, Elena Kopstein, and Jackson Painter recently visited Washington, D.C., to present their ideas on nuclear energy strategy. Their proposals were developed during a fall quarter course at Stanford University titled MS&E 296: Technology, Innovation and Great Power Competition. The course examined how emerging technologies could pose challenges and create opportunities for the United States in global competition.
Tarun Chhabra, an attorney serving as senior director for technology and national security at the National Security Council (NSC), invited the students to share their insights in the nation's capital. Supported by the Stanford Gordian Knot Center for National Security Innovation, they presented their findings to Chhabra and other NSC members at the White House on December 10. They also engaged with experts from the Nuclear Energy Institute and Clear Path.
The students' project focused on how artificial intelligence's rapid growth might impact America's power supply. They highlighted that future training of large language models will demand significant energy resources beyond current capabilities. "The projected power needs for the next 10 years could destroy our grid if we don’t upgrade our energy," said Painter. He emphasized nuclear energy as a viable solution to meet increasing demands for clean energy.
Their policy recommendations included expediting nuclear permitting processes through a centralized database integrating AI technology. Kopstein noted that China's permitting timeline is significantly shorter than that of the U.S., suggesting potential reductions in both time and cost with improved systems.
To mitigate investment risks in nuclear technology, they proposed offering cost overrun insurance via the Department of Energy's loan program office. This measure aims to encourage private equity investment by sharing financial risks with developers.
Lastly, they suggested enhancing U.S. exports of nuclear energy to compete with Russia and China, who currently lead in construction, technology development, and fuel production. Alevra pointed out that these countries have streamlined state-run exporting processes compared to America's fragmented approach involving multiple contractors.
Capanoglu advocated for a coordinated government effort involving various agencies like State, Energy, Commerce departments alongside private companies to offer competitive export packages similar to those from Russia and China.
The students acknowledged bipartisan support for improving America's transition to nuclear energy across different government levels. Kopstein expressed gratitude towards Stanford University faculty and resources for providing this unique opportunity.