New EIRP Report Addresses Challenges of Nuclear Recycling

Friends,

Hope you had a great Passover/Easter Weekend and had a chance to spend time with your family and loved ones.

Congrats to UCLA, who won its first NCAA Women’s Basketball championship ever, blasting 3-time national champ South Carolina,79-51 in yesterday’s national title game. The Bruins dominated inside, used an unselfish offensive and suffocated the Lady Gamecocks defensively. The 28-point margin of victory was the third largest in a Division I women's championship final. The Men’s Championship is tonight at 9:00 p.m. with UConn taking on Michigan. GO BLUE!!!

I start off this week with a great new report from the Energy Innovation Reform Project (EIRP) in partnership with Oklo that finds recent technological advances, market shifts and geopolitical competition have made commercial used nuclear fuel recycling both feasible and strategically urgent for the United States. The report concludes that long-standing barriers to recycling—economics, waste management, and proliferation risk—can now be addressed through modern technologies and policy reforms. See a full write up below.

Congress remains back in home districts this week while the White House grapples with the economic challenges resulting from the Iran Conflict and the closure of the Strait of Hormuz. This morning, the White House celebrates Easter with the traditional White House Easter Egg Roll. The event officially dates back to 1878 and Rutherford B. Hayes, when a group of bold children walked up to the White House gate, hoping to be allowed to play egg-rolling games there. President Hayes told his guards to let the children enter, and soon Easter Monday on the White House grounds became an annual tradition.

The President also released his budget on Friday outlining the Administration’s initial spending priorities for next year. We are looking closely at many of the energy and environmental items and are happy to discuss, but always remind you that Congress will change many of these priorities as the often do.  

Events this week include an RFF Webinar tomorrow looking at whether the world has lost the Paris Agreement target. The event coincides with the release of the 2026 Global Energy Outlook—RFF’s annual report that synthesizes global energy market projections and analyses. On Wednesday, EIA Administrator Tristan Abbey holds a webinar that will explore potential long-term U.S. energy trends in its Annual Energy Outlook 2026. In light of new renewable polling from Pew, keep a look out for more new polling data on offshore wind. Finally on Thursday, the Atlantic Council's Freedom and Prosperity Center holds its annual Global Prosperity Forum.

It is Masters’ Week so no calls after the opening tee times on Thursday!!! (Just kidding…or maybe not)

I will be on the SIRIUS XM’s Julie Mason Show this afternoon at 4:30 pm to discuss energy implications of the Iran conflict and the follow-up from CERA Week. Tune in on POTUS 124. Call with questions.

Best,

Frank Maisano

(202) 828-5864

C. (202) 997-5932

FRANKLY SPOKEN

"The United States' oil production and gas production has become a geopolitical insurance policy against the risk that we see in the world."

API’s Mike Sommers on Bloomberg TV discussing energy market disruption and U.S. production.

"During the pandemic, you shrunk the oil market in a relatively managed way. Now you're shrinking it by force in a very unmanaged way. And this is a lot more disruptive. And the market isn't necessarily pricing that."

Karim Fawaz, a top oil analyst with S&P Global Energy, on the Oil Ground Up podcast via Axios

ON THE PODCAST

Blas Talks Iran Oil Shocks – In this episode of the Odd Lots podcast, Bloomberg Opinion columnist Javier Blas says the potential remains for oil to go much, much higher. They also speak with Javier about the scale of the shock, why the pain is extraordinarily high in East Asia, how this compares to past oil shocks, and what the world would look like if Iran retains control of the Strait.

FUN OPINIONS

Ducey: We Need All of the Above Approach on Energy – In an opinion on Fox News, former Arizona Republican Gov. Doug Ducey writes that Red states are the ones going green and winning the clean energy race, He added with China undergoing one of the most ambitious energy transitions in history, US needs an all-of-the-above approach. It’s time for Democrats and Republicans to stop using energy as a political weapon. We need an all-of-the-above approach that empowers consumers and ensures reliable, affordable energy aligns with free market principles.

Bordoff/O’Sullivan: Going It Alone on Energy – In their regular column in Foreign Affairs, Columbia University’s Jason Bordoff and Harvard’s Meghan O’Sullivan write the war in Iran will accelerate the rise of “energy autarky,” the move by governments to decouple from global markets and try to meet their own energy needs. They add the impact of the closure of the Strait of Hormuz, even on relatively insulated major energy producers like the US, has laid bare the vulnerability of global oil and gas markets, especially as countries increasingly weaponize energy. Clean energy isn’t much more secure, they added, given China’s chokehold on critical minerals — leaving countries feeling like they have to go it alone.

FROG BLOG

Rep. Begich: Cutting Into China’s Critical Minerals Lead – In an opinion in Townhall, Rep. Nick Begich writes China has spent decades executing a deliberate strategy to corner global critical mineral supply chains. They mine. They process. They stockpile. While they are building, we are debating whether to allow an environmental review processes to proceed. To lead, we must build; and to build, we must have the materials to build.

FUN FACTS

US Nat Gas Prices Show US Energy Dominance in Action:  U.S. natural gas prices just hit a six-month low, even as global energy markets navigate disruption. This stability reflects years of sustained growth in domestic production and infrastructure.

IN THE NEWS

New Report: Advances Make Nuclear Fuel Recycling Ready, Safe, and Urgent for U.S. Strategy and National Interests – A new report released today by Energy Innovation Reform Project (EIRP) in partnership with Oklo finds that recent technological advances, market shifts, and geopolitical competition have made commercial used nuclear fuel (UNF) recycling both feasible and strategically urgent for the United States. The report concludes that long-standing barriers to recycling—economics, waste management, and proliferation risk—can now be addressed through modern technologies and policy reforms. Technological advances, new market dynamics, and high-assay low-enriched uranium (HALEU) supply constraints have created a strategically significant opportunity for the U.S. to implement commercial nuclear fuel recycling.

The report argues that the moment is right for the U.S. government and private sector firms to take on UNF for three reasons:

Improved economics and energy security: Rising global uranium demand, HALEU supply constraints, and the growth of advanced reactors are increasing the value of recycled fuel as a domestic energy source. At the same time, new recycling technologies are smaller and projected to be more cost-effective than legacy systems.

Reducing nuclear waste: Advanced recycling technologies can significantly reduce both the volume and radiotoxicity of nuclear waste. When paired with fast reactors, a closed fuel cycle could cut the volume of high-level waste requiring permanent disposal by up to 95 percent.

Strengthening nonproliferation: While proliferation concerns have historically limited recycling efforts, modern technologies incorporate advanced safeguards and monitoring systems. Techniques such as co-processing reduce risks compared to legacy approaches and expanded U.S. leadership could strengthen global nonproliferation standards.

Policy recommendations

• The report also urges policymakers to take immediate action to accelerate deployment of recycling technologies, including:
• Establishing a national policy supporting nuclear fuel recycling
• Developing a comprehensive nuclear waste strategy that integrates recycling and disposal.
• Expanding Department of Energy funding and public-private partnerships
• Modernizing outdated laws, including the Atomic Energy Act and Nuclear Waste Policy Act

Energy Industries Urge Congress to Invest in Competitive and Cost-Saving Technology RDD&D – The Business Council for Sustainable Energy (BCSE) sent a letter to the House and Senate Appropriations Committees’ Subcommittees on Energy and Water Development today, urging support of robust funding for the U.S. Department of Energy in fiscal year 2027. BCSE urges investment in the areas of energy efficiency, renewable energy, energy storage, natural gas, and sustainable transportation. These will be the energy resources available to meet growing energy demand, lower energy costs, and improve reliability through demand- and supply-side technologies. The coalition urges Congress to continue to fund needed technical assistance to states and localities, while also funding innovative RDD&D to ensure the United States retains its competitive edge in energy technologies, products, and services.

Iran-Related Supply Risks Overshadow OPEC+ Output Hike – OPEC+ plans to raise production targets by around 206,000 barrels per day in May, though the increase is largely symbolic given ongoing supply disruptions caused by the Iran war. The group warned that damage to Middle East energy infrastructure could take significant time and cost to restore, which could prolong market instability. Analysts say constraints on shipping through the Strait of Hormuz are driving oil market volatility more than OPEC+ policy changes.

Interior's Offshore Drilling Agencies May Be Reconnected – The Interior Department is consolidating the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement into a single entity, the Marine Minerals Administration, to streamline offshore oil and natural gas leasing, permitting, inspections and oversight. The agencies were separated after the 2010 Deepwater Horizon oil spill, which exposed oversight failures and prompted structural reforms. DOI said by aligning planning, leasing and oversight functions, they are positioning the agency to better meet current and future energy demands.

New Berkley Lab Retail Electricity Study – The Berkeley National Lab completed a study on recent trends in US retail electricity prices. The following are two key learnings from this comprehensive study:

No national pattern: Retail electricity prices vary by state due to local circumstances.

Grid costs rising: Investment in infrastructure, modernization and resilience are pushing prices up in many states.

The research findings underscore the diverse set of price determinants and highlight the need for continued research to inform effective policy and ensure customer affordability.

ON THE SCHEDULE THIS WEEK

Forum Look sat Vietnam Mineral, Mining Issues – Tonight at 8:30 p.m., the U.S. Commercial Service and USEA host a webinar on tapping into Vietnam's high-potential mining, coal and critical minerals sectors. Discover opportunities in a modernizing sector and how U.S. firms can align proposals with Vietnam's energy transition and industrial policies. Vietnam is actively seeking advanced U.S. technologies and partners and has a strong demand for clean coal solutions, critical minerals processing and mining modernization.

RFF Holds Climate Forum – Resources for the Future (RFF) holds an RFF Webinar tomorrow looking at the global energy outlook for 2026 and whether the world has lost the 1.5°C goal.  The event coincides with the release of the 2026 Global Energy Outlook—RFF’s annual report that synthesizes global energy market projections and analyses from leading energy organizations and corporations. During the webinar, RFF researchers will discuss key findings on a variety of topics, including how the world veered off track from achieving international climate goals, rapidly rising global electricity demand, the uncertain global outlook for coal, evolving projections for transportation fuels, and more. The webinar will also feature an in-depth panel discussion that will dive deeper into the topics explored in the report, along with the energy impacts of developments in Venezuela and the Middle East. Panelists will also discuss the outlook for future international climate negotiations, domestic industrial strategy, and more.

Forum Looks at Iran, Oil Diplomacy – The Carnegie Endowment for International Peace holds a virtual Carnegie Connects discussion tomorrow at 10:00 a.m. on oil and the Iran conflict. Helima Croft, head of Global Commodity Strategy and Middle East and North Africa (MENA) Research at RBC Capital Markets, on the current crisis and the future of oil and hydrocarbons.

Forum Focuses on Iran Conflict – The Middle East Institute is holding an on-the-record webinar tomorrow at 11:00 a.m. to discuss the current situation in Iran and potential pathways moving forward,. The event will feature commentary from Dr. Ben Connable and Colonel Ray Gerber (Ret.).

Forum Looks at FEOC, Tax Incentives – Canary Media holds a forum tomorrow at 2:30 p.m. to look at navigating the FEOC Maze for solar and storage The event will bring together experts representing a range of important perspectives — from top legal firms to one of the largest developers in the country to a leading solar and energy storage market intelligence provider — to provide a 360-degree view of how these restrictions work in practice.

Forum Looks at Middle East India Economic Corridor – The Atlantic Council holds a virtual discussion on Wednesday at 8:30 a.m. looking at the India-Middle East-Europe Economic Corridor during a time of war. The panel will identify what IMEC-associated projects could provide trade and energy alternatives to the Strait of Hormuz. Panelists will also discuss how IMEC countries can improve the resilience of new infrastructure to potential attacks and adapt their coordination efforts in a time of political instability.

EIA Explores Long-Trem Energy Trends – The U.S. Energy Information Administration holds a webinar that will explore potential long-term energy trends in the United States. EIA Administrator Tristan Abbey will present our Annual Energy Outlook 2026, and a panel of EIA experts will answer questions from attendees.

Atlantic Council Holds Prosperity Forum – On Thursday, the Atlantic Council's Freedom and Prosperity Center holds its annual Global Prosperity Forum. This year's event will bring together experts and leaders shaping the global development landscape. Discussion topics include achieving strategic objectives through investment and development finance, the future of democracy assistance, responsible mining in the critical minerals industry, China's soft power strategies in the Global South and using energy compacts to promote growth. This event will also mark the kickoff of the Entrepreneurship Policy Initiative through a high-level panel discussion with the project's stakeholders. In addition, they will introduce the 2026 Country Atlas. Key speakers including Tom Haslett, Director of Energy and Critical Minerals Policy at the US International Development Finance Corporation.

USEA Focuses on Tribal Energy – The US Energy Association holds a virtual discussion on Thursday focused on unleashing Tribal energy development. This webinar will provide an overview of DOE’s Office of Indian Energy $50 million notice of funding opportunity Tribal energy development. The funding aims to foster affordable, reliable and secure energy solutions in Indian Country.

IN THE FUTURE

Daines, Total Energies CEO to Headline Semafor World Economy Forum – Semafor holds its annual World Economy Forum on April 13th to 17th. Across the week, our editorial tracks will explore global finance, geopolitical unpredictability, healthcare, and the rapid changes AI is generating. The session I’m most excited about, however, is Powering the Future — where I’ll be sitting down with some of the leaders shaping the next era of energy. Speakers include TotalEnergies CEO Patrick Pouyanné, Sen. Steve Daines, Baker Hughes CEO Lorenzo Simonelli and GE Vernova CEO Scott Strazik, among others.

SEJ Goes to Chicago – On April 15th to 18th, SEJ’s 35th annual conference will be held at the University of Illinois Chicago (UIC), is a leading public research university and national authority in environmental health, sustainability, urban planning and climate science. SEJ2026 will bring together journalists, scientists, academics, students, policymakers and nonprofit leaders to explore urgent environmental, climate and health issues. Of course, on Thursday, Bracewell and the American Cleaning Institute will co-host our annual popular reception.

RFF Looks at NW, WY Economies – Resources for the Future holds a forum on Thursday April 16th at 1:00 p.m. looking at resilient energy economies and how Wyoming and New Mexico are diversifying. In this webinar, presenters will discuss the fiscal risks Wyoming and New Mexico face due to economic reliance on fossil fuels, characterize potential growth industries for both states, and offer considerations for effective state policymaking.

Columbia Global Energy Summit Looks at Geopolitics – On Tuesday April 21st in New York City, the annual Columbia Global Energy Summit, hosted by the Center on Global Energy Policy at Columbia University SIPA, will focus on energy, security and geopolitics in the New World Order. Over the course of the day, speakers will provide thought-provoking commentary and analysis on key issues, such as the collapse of the rules-based international order, the impact of geopolitical shifts on the global economy, and how both of these dynamics shape the global energy industry. Program topics include demand flexibility and the rapid expansion of the AI industry, great power competition and the energy transition, increasing competition throughout critical mineral supply chains, energy affordability and permitting reform.

Forum Looks at Climate Finance, Global Stability – The Stimson Center and the Green Climate Fund will host a multi-speaker panel on Tuesday April 21st at 10:00 a.m. looking at how early climate investment in adaptation, food systems, and water security can reduce the risk of conflict and displacement, and the unique position of international financial institutions and creative partnerships to make that case.

Electricity Canada Holds Washington Policy Forum – Electricity Canada holds its annual Washington Policy Forum on Tuesday April 21st to Thursday April 23 where top executives from their member companies come to DC for meetings with government and industry stakeholders.

DLA Hosts Energy Forum – The 2026 DLA Energy Worldwide Energy event will be held at the Hyatt in Crystal City. The event highlights the importance of partnerships across the entire spectrum of the energy supply chain and provides a forum for energy industry leaders to engage in dialogue about issues critical to both industry and consumers. Our focus is on developing energy solutions and building relationships with industry, suppliers, other government partners, and our allies. In 2026, workshops topics will focus across DLA Energy’s worldwide business including petroleum supply and distribution, supply chain services, aerospace energy, and installation energy.

DC Climate Week Set – DC Climate Week is a community-organized week of events, exhibitions, tours, screenings, and gatherings across Washington, DC on Tuesday April 21st to Sunday April 26th. For the Second year, the event will explore the challenges of the climate crisis and discover the solutions that give us hope. Bracewell will host several events so stay tuned for details.

Forum Looks at Climate Data – The Environmental and Energy Study Institute (EESI) and Climate Central hold a briefing on Thursday April 23 at 4:00 p.m. in 2168 Rayburn to discuss a key underpinning of the U.S. economy: publicly-available weather and climate data. In this new information environment, universities, nonprofits, and national associations are stepping up to fill the gaps in maintaining weather and climate data left by the federal government. Panelists will share where to look for these datasets and explore how these organizations are maintaining public access to critical information without the resources afforded by the federal government. They will also describe the implications of these changes for end users, from individuals using weather apps to multinational corporations making significant business decisions.

Energy Forum Set for San Antonio – The 13th Energy Thought Summit (ETS)will be held in San Antonio, TX on April 27th to 30th. The event will reflect on the industry's past achievements, while discussing the limitless opportunities that lie ahead. Immerse yourself in the collective wisdom of industry pioneers, thought leaders, and visionaries, inspiring us all to push the boundaries of what is possible when it comes to shaping our new energy future.

SAFE Summit to Tackle Critical Mineral, Energy Security Challenges – SAFE Summit 2026 is set for April 27th and 28th at the Walter E. Washington Convention Center – 3rd Floor Ballroom in DC.  The event will convene innovators and leaders at a premier conference event for high-stakes and high-impact conversations shaping the nation’s energy, transportation, and minerals future. Session topics focus on AI, batteries, mineral security policies, transmission, energy, Detroit’s China EV problem and more. Spotlighting SAFE’s The Pillars of Power: A Strategy for Energy Security and Industrial Resiliency, the Summit will focus on rebuilding America’s industrial base, securing critical supply chains, and embracing energy abundance.

Stimson Focuses on Iran, Climate Security – The Stimson Center’s Environmental Security Program and the AMENA Foundation holds an online discussion on Tuesday April 28th looking at how the conflict in the Middle East is reshaping environmental and human security across the Middle East and North Africa region. The event will bring together leading voices to examine how the intersection of war and climate change is driving new forms of insecurity, particularly in already fragile environments.

Chamber Holds Energy Summit – On May 1st, the U.S. Chamber of Commerce and RealClearEnergy hosts its   2026 Energy Future Forum. Affordability has become the watchword of the year, driving conversations across AI aspirations, reshoring efforts, mineral mining and refining, LNG exports, and more. Join leaders from industry, policy, and technology for a full day of discussions on how cost pressures are shaping the future of energy and innovation. Featured speakers include Energy Secretary Wright, Southern CEO Chris Womack, EQT CEO Toby Rice, FERC Commissioner David Rosner and Siemens Energy President Matt Neal.

OPAL CEO Headlines ACT Expo – OPAL Fuels Co-CEO Adam Comora will headline the Clean Fuels for Commercial Fleets Workshop at ACT Expo in Las Vegas, Nevada on Monday May 4th. ACT Expo is North America’s largest fleet technology expo and conference and run through Thursday May 7th. In its 16th year, ACT Expo is widely recognized as the most important annual event for the commercial transportation industry. Comora’s presentation will set the stage for a landmark year in clean transportation innovation. Titled “From Fuel to Fleet: A Vertically Integrated Approach to Renewable Fuels that Drives Fleet Economics, Cost Savings, and Sustainability,” Comora’s remarks will draw on OPAL Fuels’ vertically integrated platform spanning renewable fuel production, infrastructure development, and fleet fueling solutions. Comora will share real-world examples of how fleets are simultaneously meeting cost, reliability, and sustainability goals.

Wright to Headline USEA Energy Forum – On May 5th, the US Energy Association will convene the US Energy Policy Forum in Washington, DC, to shift the national dialogue from high-level discussion to "Prioritizing Action." This landmark event will gather a select group of visionaries and decision-makers to bridge the gap between policy and practice, defining the next era of our energy landscape. Energy Secretary Chris Wright will Keynote.

USEA Hosts Diplomats at AI Conference – The US Energy Assn holds a special meeting on Thursday May 7th at 12:30 p.m. at the Special Competitive Studies Project AI+ Expo.  The event will feature a diplomatic conversation on the role of AI in European energy security.

CCS Forum Set For DC – The Global CCS Institute holds its 2026 Americas Forum on Carbon Capture and Storage on Tuesday May 12th in Washington, D.C. hosted at the Embassy of Australia. The Forum program will feature keynote remarks, expert panels and in-depth discussions on policy, technology, investment, and project developments. The event will also discuss Carbon Removal by Howard J. Herzog (MIT) and Professor Niall Mac Dowell (Imperial College London), both of whom will be speaking at the Forum.

American Biogas Council to Host 2026 BIOGAS AMERICAS Conference in Detroit – As the U.S. biogas industry continues to expand, BIOGAS AMERICAS heads to Detroit on May his May18th to 21st at the Huntington Place Convention Center (or Cobo Hall for you DTW old-timers)). The event is the North America’s largest biogas and RNG tradeshow and conference. The event will convene project developers, operators, utilities, investors, technology providers, policymakers, and waste and wastewater professionals from across the continent to supply training and education, biogas industry data, and policy insight.