Investor That Can See The Future

Chapter 346

The dangers of nuclear power need not be overstated.

In the event of an accident, the damage is unpredictable. There have been three nuclear power plant accidents. Smile Island in the US, Chernobyl in the USSR, and Fukushima in Japan.

It is a catastrophe, both environmentally and economically. For this reason, after the most recent Fukushima nuclear accident, many countries have declared nuclear phase out.

This includes Korea.

“Even if nuclear power is phased out, it is not like Japan or Taiwan. Rather, the number of nuclear power plants is increasing in this government. But from now on, we are going to create a roadmap for nuclear phase out.”

Countries that have phased out nuclear power have faced their own set of difficulties.

Japan stopped operating nuclear power plants and significantly increased LNG power generation. However, since Japan does not produce natural gas, of course, it has to depend entirely on imports. As LNG imports for power generation surged and energy prices rose, Japan’s trade balance turned into a deficit. In the end, the Japanese government could not stand it any longer and declared the restart of nuclear power plants.

Germany has significantly increased thermal power generation as well as renewable energy. The fuel for power generation is lignite produced in Germany. (Germany has long been famous for its coal production).

Lignite is of low quality and generates enormous pollutants. As air pollution worsened, Germany was forced to turn to LNG power generation.

Fortunately, there are countries near Germany that are plentiful of natural gas. That’s Russia Germany has begun construction of additional gas pipelines to import Russian natural gas.

There are concerns about Russia’s growing influence in Europe, but there is no other way to keep nuclear-free.

Taiwan completely shut down its nuclear power plants, and instead operated full-fledged thermal power plants. However, when one thermal power plant stopped while the electricity reserve ratio had fallen to a dire level, an unprecedented blackout occurred in which two-thirds of the entire country was cut off.

In the end, through a referendum, Taiwan decided to abolish its nuclear-free policy and resume operation of nuclear power plants.

“There are two serious problems with thermal power generation. One is that it emits a lot of fine dust and greenhouse gases.”

Taehyung nodded his head.

“In order not to eat radiation, you have to drink fine dust.”

Which one has the higher risk of death?

Although nuclear power has a risk of radiation leakage, it emits very little fine dust and greenhouse gases. Excluding concerns about accidents and waste disposal, it is the most eco-friendly energy.

“You know what the other problems are, don’t you?”

“It means that the price and supply of fuel are unstable.”

Even without taking the oil shock as an example, raw material prices fluctuate frequently. This can be easily seen by looking at OPEC’s announcement of a production cut or oil prices fluctuating due to damage to drilling facilities in the North Sea.

In particular, in the case of Korea, the exchange rate risk must also be considered as it is entirely dependent on imports of energy.

An increase in energy imports reduces the trade balance, and a decrease in the trade balance increases the exchange rate. And the higher the exchange rate, the higher the energy price.

“Another important fact is that in all countries that have phased out nuclear power, electricity prices have risen significantly.”

Nuclear power is cheap. If this is replaced by other power generation, the electricity cost will inevitably rise.

Japan soared 30 percent and Germany nearly doubled. The burden on general households is also a burden, but it is fatal for companies as the manufacturing cost rises.

Taegyu said.

“What if we increase renewable energy?”

“Of course we need to increase it. However, the situation in Korea is not very good in many ways. A solar panel can generate electricity properly for at most three or four hours a day. It will be less on cloudy days. For wind power, a wind speed of at least 6 meters per second must blow continuously and must be at least a certain distance away from the residence. The biggest problem is that there are no neighboring countries to share electricity with like Germany.”

However, electricity cannot be exchanged with North Korea.

In any case, the demand for electricity is continuously increasing, and the amount of power generation must continue to increase. Whether it be nuclear power, thermal power, or renewable energy.

“After the Fukushima disaster, many countries declared nuclear phase out or reduction of nuclear power plants, but recently the atmosphere has completely changed. There is a consensus that we have no choice but to rely on nuclear power for now.”

Countries that are currently planning to build nuclear power plants are not alone. USA, Russia, China, UK, Japan, Netherlands, Philippines, Saudi Arabia and so on.

Unlike thermal power plants that any country can build, few countries have the technology to build nuclear power plants.

Currently, the countries that can be counted among the world’s most powerful nuclear power include the United States, Russia, China, Japan, France, and Korea.

Although Korea is a latecomer, it has operated several nuclear power plants in Korea without problems for a long time and has exported power several times.

As Korea has announced that it will phase out nuclear power, it has no choice but to turn its eyes to overseas markets, so domestic companies are fiercely competing to win overseas orders.

But the atmosphere is not very good.

Currently, the government is implementing a two-track strategy for nuclear power plants. It is said that while promoting a policy to phase out nuclear power in Korea, it will actively support export of nuclear power plants abroad. It’s not that it doesn’t make sense at all, but it’s bound to lower the credibility of the antinomy logic.

Taehyung nodded his head.

“Hey, if Japanese kids don’t eat seafood from Fukushima and export them saying that they can eat it with confidence, which country would trust them?”

No one thinks nuclear power is good. If so, will everything be solved if we get rid of nuclear power in one day?

Professor Homin Kim shook his head.

“If that was possible, I would have done it sooner. If all nuclear power plants in the world were to be shut down, would other power generation be able to cover that amount of electricity?”

“It can’t be.”

If that happens, the prices of coal, oil and natural gas in the commodity markets will jump many times right now.

In fact, after the Fukushima nuclear disaster, several countries, including Japan, stopped operating nuclear power plants, and energy prices rose significantly.

Taek-gyu asked.

“Then what should I do?”

“Well. As the technology advances further, the problem may be solved. maybe even worse. However, we cannot give up all the advantages of civilization and return to the primitive era. In the end, humans have no choice but to live by destroying nature. But he has to figure out how to slow it down as much as possible.”

Professor Homin Kim, seeing our expressions, said with a smile.

“No need to worry too much. Because humans always find a solution. The next generation may be able to solve problems that our generation could not solve. All we have to do is hand over the problem in a solvable state. I’m so sorry if I hand it over without an answer.”

* * *

I found and read energy-related materials and papers. Yuri worked hard to organize and classify the materials and bring them back.

Taek-gyu said while holding a thesis.

“Because fusion power is the best. The energy of the future is nuclear fusion. I’m here too. It’s called Nuclear Fusion.”

“Who doesn’t know that?”

Nuclear fusion is a process in which the kinetic energy of atomic nuclei heated to a very high temperature increases, overcoming repulsive force, and when atomic nuclei collide, strong nuclear force action occurs and bonds… … .

“… … .”

I don’t know what this means, but it is said that nuclear fusion generates a lot of energy.

The energy produced in this way is more efficient and more stable than nuclear power, and it does not emit radiation, greenhouse gases, or fine dust.

If commercialized, all of humanity’s energy problems can be solved at once!

Unfortunately, the theory is almost established, but commercialization is expected to take some time.

“Gong Millet When you play Gong Millet, doesn’t something come out?”

“I’m already doing it.”

All kinds of experts are sticking to it and continuing research and experimentation, so it could be really commercialized in 10 or 20 years.

Is that a problem by then?

Let’s think about it. Before the Industrial Revolution, electricity is essential in modern society. Many people worry about food security, but energy security is a bigger issue.

Even if the import of food is cut off for about a month, it can somehow survive, but for coal or oil, even if the import is cut off for just a week, there is a riot.

For this reason, all countries are striving to secure a stable energy source.

Energy is also directly related to hegemony. It is thanks to oil and natural gas that Russia, which had once collapsed by declaring default, has revived, and it is thanks to the shale revolution that the US has risen to become a superpower again.

On the other hand, the OPEC countries that dominated the world by causing two oil shocks are losing their former status.

Is there no solution for this right now?

Thinking so, I saw Taek-gyu suddenly staring into the air with a blank expression on his face.

“What are you doing?”

“No, I want to remind myself of Yeji if I do this too.”

“… … .”

* * *

Professor Kiran Mohan stopped by China to attend a geological conference, and then he came to Korea. We reunited in Seoul and shook hands warmly.

His assistant, Carrie Catwright, was also there.

“Welcome to Korea. It’s nice to meet you here.”

“Haha, come to think of it, this is the first time I’ve seen it in Korea.”

Professor Mohan coughed.

“Beijing’s air wasn’t good, but Seoul isn’t too bad either.”

“It’s gotten worse these days.”

Since you’ve been to California, where the air is fresh, you’ll feel even worse.

Even in Korea, professors have high social status. Not to mention he is a professor at the California Institute of Technology, a world-renowned university.

It is no exaggeration to say that he is now a world-class scholar as he accurately predicted the Big One and was awarded the Nobel Peace Prize.

As Korea is not a safe zone for earthquakes, Professor Mohan’s visit was quite a big issue. It is characteristic of politicians to put a spoon quickly in such a case.

Needless to say, there was a rush of requests from lawmakers to meet. Professor Mohan politely declined, stating that his schedule was already full of lectures, meetings, and interviews.

The lecture was held at Korea University, and I also attended. I went ahead and introduced a professor who had met other professors. Professor Myung-Jun Kim was very pleased.

Professor Homin Kim also came up. Since they met the other day, the two have been in constant contact and have been like friends. There must be something in common among scholars.

Even before the lecture started, students, professors, and reporters flocked in like clouds.

Prof. Mohan talked about the earthquake situation in Korea and the dangers of recent climate change for two hours, and everyone listened intently.

After the lecture, people lined up to get autographs from those who brought books. Somehow, I was in a position to sign autographs with me.

If you look at this, it means that I’m pretty popular too.(Read more @ wuxiax.com)

Professor Mohan decided to have dinner with the staff of OTK Company. Hyunjoo’s older sister, Henry, and Ellie were also there.

“What would you like to eat?”

Professor Mohan pondered for a moment, then he said.

“When I come to Korea, I want to try samgyeopsal.”

Carrie clapped her hands.

“Me too. My Korean friends recommended me to try it.”

Taehyung nodded his head.

“What do you know? It’s pork belly rather than steak.”