[New Year Special Interview] "Climate Change Impact Growing... Next-Generation Nuclear Power 'Game Changer'"

Former US Energy Secretary Ernest Moniz
"Carbon neutrality must be pursued despite costs"
"We must move beyond net zero to negative carbon"
"Renewable energy needs nuclear power as a complement"

[Asia Economy New York=Correspondent Baek Jong-min] Ernest Moniz, former U.S. Secretary of Energy and an energy expert, proposed that in response to climate change, we must go beyond carbon neutrality (Net-zero) and move toward Negative carbon. He also expressed the view that renewable energy is not the entirety of eco-friendly energy and that nuclear power and natural gas should be evaluated as eco-friendly energy sources.

In a written interview with Asia Economy on the 5th (local time), former Secretary Moniz predicted that the carbon neutrality policy promoted by U.S. President Joe Biden is currently causing confusion but is ultimately a direction that must be pursued despite the costs involved.

Former Secretary Moniz advocated for a more aggressive response to climate change. He emphasized the need for a more proactive approach where carbon absorption exceeds emissions, going beyond ‘Net-zero’ where greenhouse gas emissions (+) and absorption (-) are equal. He also foresaw that scientific advancements would greatly contribute to climate change response.

However, he also expressed the opinion that it is difficult to apply a uniform standard to all countries in climate change response. He warned that fossil fuel prices could fluctuate significantly during the transition to clean energy.

Moniz is a highly respected nuclear physicist in the U.S. He is a Democrat and has held key energy-related positions in Democratic administrations, yet he maintains faith in nuclear energy. The $1.2 trillion infrastructure investment bill promoted by President Biden also includes investments in nuclear power.

-There is fierce global competition to respond to climate change. Since taking office, President Joe Biden has continuously emphasized climate change response, but confusion persists. Do we really believe we can stop using fossil energy? Is carbon neutrality achievable?

△Carbon emission neutrality is certainly a difficult task but achievable. The impacts of climate change are becoming increasingly evident. Countries worldwide, including the U.S., are suffering significant losses due to climate change damage. The public, having witnessed the power of climate change, will increasingly demand stronger government responses. Ultimately, the question is not whether climate change response is possible but when it will happen. Of course, the timing of climate change response will inevitably vary by country depending on economic development levels and other factors. Negative carbon technology, which makes net carbon dioxide emissions negative beyond carbon neutrality, will play an increasingly important role.

-During the transition to clean energy, fossil fuel prices such as oil and coal have surged, causing global difficulties. Do you believe it is possible to maintain stable supply and prices of fossil fuels while transitioning to clean energy? How should oil and chemical companies and oil-producing countries respond?

△Fossil fuel prices will show great volatility between demand reduction and the need for investment in future production. Oil demand will decline at very different rates depending on the sector. In particular, oil demand for transportation means such as automobiles and aircraft will decrease more slowly than in other sectors.

Oil-related companies can no longer avoid diversifying their business models. Especially, low-carbon production technologies must be applied. This will also provide stable employment to local communities.

-California’s last nuclear power plant, Diablo Canyon, is scheduled to close in 2025, but you oppose this. Some argue that nuclear power is not clean energy. Do you believe clean energy can coexist with nuclear power plants?

△As the urgency to address climate change increases, the perspectives of major environmental groups on nuclear power have changed significantly. Existing nuclear plants require support for decades. New nuclear plants may still face opposition from environmental groups. The key issue is the cost of next-generation nuclear power. If nuclear power can be generated at competitive costs, it could be a ‘game changer.’

Wind and solar power will undoubtedly play a tremendous role. However, since renewable energy is variable depending on weather, supplementation through firm power is essential. It is important to remember the significant disruption to wind power in the North Sea of the UK when there was no wind.

Technological advancements have made nuclear safety issues fundamentally different from the past. Although radioactive waste remains a problem, there have been tremendous developments in nuclear fusion recently, and nuclear processing costs could drastically change within the next 10 years. (Former Secretary Moniz recently co-authored an op-ed with former Energy Secretary and Nobel laureate Steven Chu in the LA Times, arguing for canceling the closure of Diablo Canyon, which accounts for 8% of California’s power generation.)

-You have also expressed a favorable view of natural gas. Why do you support natural gas and nuclear power against the progressive camp?

△I do not support natural gas or other energy resources to oppose any political faction. It is based on facts. In the U.S., most carbon emission reductions have been achieved by replacing coal power with natural gas power. The same phenomenon will occur in many other countries for at least the next 20 years. Especially, sub-Saharan African countries need natural gas to support economic development, industrialization, and quality of life.

-You also advocate the necessity of carbon capture (CCUS) and green hydrogen to achieve Net-zero. Please explain.

△Massive removal of carbon dioxide is essential to achieve Net-zero and a net negative energy economy. This is why carbon capture that directly removes carbon dioxide from the air is important. Green, blue, and red hydrogen are promising methods to provide fuel services in various sectors of the economy, but cost reduction and significant infrastructure development are prerequisites. (Carbon capture is a technology that separates carbon dioxide generated from coal-fired power plants, steel mills, refineries, etc., and stores it in ocean rock formations or recycles the carbon dioxide. Tesla founder Elon Musk has offered a $100 million prize to secure this technology. Green hydrogen refers to hydrogen produced by splitting water using electricity generated from renewable energy such as solar and wind. Since no greenhouse gases are emitted during production, it is considered a key technology for Net-zero.)

-Korean companies supply batteries for the U.S. electric vehicle transition. How do you see the electric vehicle battery issue between Korea and the U.S. affecting bilateral relations, and how should it develop?

△The connected battery supply chain between Korea and the U.S. is an important turning point in Korea-U.S. relations. The supply chain was maintained in U.S. states that were at risk of losing jobs during the transition from internal combustion engines to electric vehicles. The partnership between LG and GM is a representative example. I hope there will be more opportunities to stabilize and recover the U.S. supply chain.

Former U.S. Secretary of Energy Ernest Moniz (right) is seen talking with then-Secretary of State John Kerry while testifying before the U.S. Congress in 2015 regarding the Iran nuclear deal. Lawmakers highly valued Secretary Moniz's precise explanations, a nuclear physicist, over Secretary Kerry. During Moniz's Senate confirmation, all senators voted in favor. Photo by U.S. Department of State

◇Who is Ernest Moniz? ? Ernest Moniz is an American nuclear physicist who served as Secretary of Energy during the second term of the Barack Obama administration. He also served as Deputy Secretary of Energy during the Bill Clinton administration. He was also considered for Secretary of Energy in the Joe Biden administration.

After studying at Boston College and Stanford University, he became a professor of physics at the Massachusetts Institute of Technology (MIT), director of the MIT Energy Initiative (MITEI), and director of the Energy and Environmental Research Laboratory. He also served as Deputy Director of the White House Office of Science and Technology Policy.

His work also includes nuclear nonproliferation. During the Obama administration, he provided accurate explanations and insights to lawmakers opposing the Iran nuclear deal, gaining greater trust than then-Secretary of State John Kerry. He currently serves as co-chair and CEO of the Nuclear Threat Initiative (NTI), actively offering opinions to prevent nuclear proliferation. He founded the Energy Futures Initiative, advocating the importance of scientific responses to climate change.

Companies have also benefited from his assistance. He advised General Electric (GE) and Saudi Arabia’s King Abdullah Petroleum Research Center and was involved in LG Energy Solution’s patent disputes.

Moniz is also famous for his distinctive hairstyle. His curly bob reminiscent of George Washington, the first U.S. president and founding father, became a major topic on the internet.