IEA goes nuclear

Scott Jagow Nov 7, 2006

TEXT OF STORY

SCOTT JAGOW: The International Energy Agency took a bold step today. For the first time in its 32-year history, the IEA called on the world to create more nuclear energy.

The agency warned an oil shortage is coming.

Carola Hoyos is Chief Energy Correspondent with the Financial Times. She says the endorsement of nuclear reflects what many countries are already thinking.

CAROLA HOYOS: Nuclear allows governments to hold energy in their own hands rather than depend on others for their energy, and so it’s a very attractive option. Plus obviously there’s some pretty big companies that could make some money off this.

The IEA also predicted that the oil fields the U.S. and Europe are using to reduce dependence on OPEC will peak in the next decade.

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