The United States, France, Germany, China and other nations are developing nuclear fusion as a possible new energy source. Waco economist Ray Perryman and Odessa oilman Kirk Edwards say the progress is steady. Commercial use is still some distance away, and no one expects fusion to replace all other energy sources.
Perryman said a December 2022 breakthrough at Lawrence Livermore National Laboratory in Livermore, Calif., was a turning point. The reaction produced more energy than it took to start the process. He said the results have since been repeated and improved, and private companies have raised a record amount of money over the past year.
Perryman said France hosts the ITER project and Germany is investing heavily in hopes of hosting the first fusion power plant. He said the U.S. leads in private investment and China has become the most aggressive competitor. He said magnetic designs such as tokamaks have the most funding, while lasers achieved ignition first. He said he expects more than one approach to find a role. He said the next few years will be telling as several U.S. companies aim to demonstrate net energy and begin supplying power to technology firms.