Yglesias responds to Frum:
Even though carbon pricing ought to make nuclear power profitable on an operating cost basis, it would be prohibitively expensive to raise the capital necessary to construct nuclear plants. I think you could resolve this by having the state step in and do the financing. He thinks, I guess, that some counterfactual private utility could do it if it were far larger than any existing utility. But how would you make these mergers happen? That sounds to me like you need an active state.