Denying the world access to clean, affordable fuels like gas, oil, and coal is a real problem. But recognizing that nuclear energy must play a pivotal role in our energy future is a major step forward—one that should enjoy widespread support, regardless of one's views on CO2 reductions.

But to go big on nuclear requires thinking big on nuclear energy policy, and that means questioning the subsidize-first mentality that has defined U.S. energy policy for decades.

The goal should not be to build a few nuclear power plants. Rather, we should strive to create an economically sustainable, competitive, innovative and uniquely American nuclear industry.

This will require a realignment of responsibility. The government's role should be to protect public health and safety. The private sector's role should be to operate a competitive commercial nuclear sector.

That means getting rid of the subsidies, rethinking regulation and getting Washington out of nuclear waste management. Washington should have a regulatory role, but not its current role as Nuclear CEO.

The reason is simple: Governments are not good at business, because they make decisions based on politics rather than on good economic sense. This never yields a successful industry.

Some argue that nuclear energy requires more governmental control, suggesting that nuclear presents more financial, technical, and political risks than other industries.

But all big projects have financial risk. Private oil refineries can cost billions of dollars, and projects like skyscrapers, liquid natural gas export terminals and other large industrial projects all require massive capital outlays. Companies and individuals regularly take big financial risks.