“Suddenly, Decisions And Opinions On Energy Actually Matter” Featuring Dr. Sama Bilbao y León, World Nuclear Association

Today we had the pleasure of hosting Dr. Sama Bilbao y León, Director General of the World Nuclear Association ("WNA"). Sama joined the WNA as Director General in late 2020 and has had an extensive career in nuclear with over 20 years of experience in nuclear engineering and energy policy, serving in industry, academia, and international organizations. The World Nuclear Association represents the global nuclear industry to promote the industry and importantly, provide authoritative information to key organizations and political authorities. We were delighted to connect with Sama for a global nuclear discussion. It was spectacular and wide-ranging and we so enjoyed Sama’s practical nature and worldwide perspective.

To start the discussion, Sama outlined the organization’s history and current member base of over 190 members in 44 countries. The WNA’s members are responsible for most of world uranium mining, conversion, enrichment and fuel fabrication; all reactor vendors; major nuclear engineering, construction, and waste management companies, and much of the world’s nuclear generation. We discuss how the perception of nuclear energy has changed since Sama joined in 2020 and the organization’s key areas of focus including working with policy makers and market designers globally to develop pragmatic policies for low-carbon energy sources, engaging the finance community to support profitable nuclear projects, and developing a strong global supply chain and talent pool. Sama shares her perspective on the state of nuclear in almost every part of the world, the opportunities for nuclear beyond electricity, financing and funding, novel applications, and the global supply chain. During the discussion, Sama mentions the periodic forecasts the WNA performs (the World Nuclear Association Fuel Report), linked here. Sama is one of the original founders of the North American Young Generation in Nuclear (linked here) and we touch on the importance of drawing new talent and fostering diversity, inclusivity and equity within the global nuclear community. We also cover nuclear power in the developing world and the opportunity for nuclear power to serve as a catalyst for social and economic development with collaboration between nuclear organizations and development banks. For more nuclear news, the World Nuclear News website is linked here. The entire discussion with Sama left us more bullish on the potential for greater use of nuclear power globally.

The Veriten team kicked off the show: Mike Bradley highlighted two key economic stats this week (June CPI & PPI) which could influence interest rate policy at the July 26th FOMC meeting. He also noted the recent trade higher in WTI crude oil price (higher end of its recent $65-$75/bbl. trading band) due to OPEC’s & Saudi’s commitment to maintain their respective production cuts through August as well as China taking additional economic stimulus steps. He noted that these actions have shifted both Brent and WTI structure from contango back to backwardation. Mike flagged last week’s energy equity sector outperformance and noted a few recent interesting equity market developments including an upcoming Nasdaq 100 rebalance (July 24th) which could result in temporary weakness in several of its largest AI/Tech equity members. He also noted another construction setback for the Equitrans Mountain Valley Pipeline and wrapped up by highlighting Oklo Inc. (an advanced fission technology company) announcing a deal to go Public via Merger with AltC Acquisition Corp. (a Sam Altman led SPAC). Oklo’s press release is linked here. Brett Rampal highlighted other recent exciting news in the nuclear world regarding Canada’s significant expansion plans for nuclear power.

Thanks again to Sama for a fantastic discussion and thanks to you all for your support and friendship. Please enjoy!