I’ve mentioned a number of times the ways in which France’s nuclear energy giant, Areva, has benefited from the U.S. opening foreign markets to nuclear energy. The U.S.-India 123 agreement is the most flagrant example, since it really involved bringing India in from the NSG cold. So it’s worth noting that among the beneficiaries of President Barack Obama’s new nuclear energy initiative is none other than . . . Areva.
They’ve been partnering up with U.S. utility and nuclear power companies for the past few years in anticipation of the U.S. shift to nuclear. And part of their strategy of making themselves a more attractive partner involves in-shoring industrial manufacturing in order to emphasize job creation. (For more background on the reasons behind Obama’s decision, Saurav Jha’s WPR feature article on the “new nuclear age” is worth the time it takes to register for a free trial subscription.)
By the way, Areva wouldn’t be the first giant among European strategic industries to try to penetrate the dollar zone. EADS/Airbus has been moving in that direction, too, although the controversy surrounding the awarding of the U.S. Air Force’s refueling tanker has put that project on ice, as far as I know.