Nukes

A proposal to substitute nuclear power for gas-fired generation has been laughed out of the northern Alberta oil sands — literally.

As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities are continuing to fill at an exceptionally fast pace over the past three months despite falling prices, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.

As most investors and analysts continue to scratch their respective heads in search of evidence as to why the country’s natural gas storage facilities continued to fill at an exceptionally fast pace over the past three months with prices falling, Fred Schultz, of Raymond James & Associates, thinks the answer might lie in an overlooked indicator, namely nuclear power.

A former “wild card” in the outlook for Canada’s biggest energymarket is starting to look like an ace for natural gas that willpay off for American as well as Canadian suppliers, according tonew evidence before the National Energy Board. The NEB has beentold a healthy growth market for gas is developing fast as a resultof Ontario Hydro’s shutdowns of nuclear power generators andelectricity deregulation. According to the evidence a C$1.7-billion(US$1.2-billion) chain of gas-fired power projects is rising fromthe ashes of the Crown Corp.’s crumbling monopoly and troublednuclear facilities.