View / Hormuz limbo is now global oil’s top risk
Lost supply and a projected demand rebound have placed the oil market in a fragile equilibrium.
Report by Matt Bowen, Rama T. Ponangi & Dr. Richard A. Meserve • May 11, 2026
The US government is encouraging the construction of hundreds of new nuclear reactors, including through efforts to streamline the reactor licensing process. The US Nuclear Regulatory Commission (NRC) oversees the licensing of new nuclear power plants. The longest part of this process is typically the NRC safety evaluation, which includes a review by the Advisory Committee on Reactor Safeguards (ACRS). The ACRS is an independent body established in statute by the Atomic Energy Act (AEA) of 1954 that produces integrated technical reviews of reactor projects to support public health and safety. As part of the NRC’s safety evaluation, the Committee’s review imposes time and cost burdens but also provides value.
This report, part of a series of publications on nuclear licensing reform at the Center on Global Energy Policy at Columbia University SIPA, analyzes ACRS reviews of new reactor licensing actions, including their length and cost to applicants. Because the AEA currently requires the ACRS to review all construction permit and operating license applications, the report also explores circumstances in which ACRS reviews may not provide significant value and might be reasonably declined.
The key findings of this research are as follows:
Policy pathways for Congress and the NRC include the following:
India’s SHANTI Act opens the nuclear power sector to private participation while retaining state oversight of strategic assets. The move addresses limits of the state-led model and supports India’s goal of reaching 100 GW of nuclear capacity by 2047. Stronger regulation and private investment could accelerate nuclear expansion, strengthen energy security and aid decarbonisation.
On June 22, the United States announced that it had signed a nuclear cooperation agreement with Saudi Arabia. This type of agreement broadly authorizes
The Trump administration and Saudi leadership have reportedly agreed to a nuclear agreement that could enable US nuclear technology transfers to Saudi Arabia.
Full report
Report by Matt Bowen, Rama T. Ponangi & Dr. Richard A. Meserve • May 11, 2026