Having to create electricity to meet our energy demand is a fantastic problem to have. Energy independence should be an economic goal of any developed country. You don't want ANY foreign control of 7% of your GDP, let alone a cartel like OPEC.
Why? The whole idea of comparative advantage is that you can increase your overall standard of living by making the things that you are best at and importing everything else. The only reason why you would want to be independent is if you planned on fighting a war with all the other countries in the world at the same time (granted, this could be the policy of our current US administration). Interdependence creates peace.
If China attacks Taiwan, they will have the huge percentage of their GDP that consists of trade with the US on the line. So I consider outright military conflict unlikely. However, if we were as "independent" as you suggest I think war would be much more likely.
Why again is independence a good thing?
"Energy Independence" is probably a misnomer - but the point is to change our economics so that we aren't forced to provide advantage to our geostrategic adversaries. Because our economy is so dependent on oil, we currently have little choice but to fund those who currently fund our (the U.S. and the rest of the West) enemies. The desire is simply to make oil a commodity like any other, and not one that can make or break the U.S. In other words, we need something to give us the ability to tell the Saudis to kiss off.
And then we can invade the Saudis! Brilliant!
Realize I'm using "the Saudis" as a proxy here. But further:
Can you imagine a scenario in which the following things are true:
a) we buy, say, 40% less oil overall
b) we have the same tensions with SA and Iran as we do now
c) SA and Iran are as rich as they are now (translate: capable of financing terror groups to fight proxy wars) ?
I can't.
Wikipedia: Contrary to popular belief, coal power actually results in more radioactive waste being released into the environment than nuclear power. The population effective dose equivalent from radiation from coal plants is 100 times as much as nuclear plants.
The governments of those other countries provide even more subsidies to their nuclear industries.
I've heard other numbers about the nuclear energy, but anyway - time will tell.
(http://en.wikipedia.org/wiki/Nuclear_power) As of 2004, nuclear power provided 6.5% of the world's energy... At this point, the enriched uranium, containing more than the natural 0.7% U-235, is used to make rods of the proper composition and geometry for the particular reactor that the fuel is destined for. The fuel rods will spend about 3 operational cycles (typically 6 years total now) inside the reactor, generally until about 3% of their uranium has been fissioned, then they will be moved to a spent fuel pool where the short lived isotopes generated by fission can decay away. After about 5 years in a cooling pond, the spent fuel is radioactively and thermally cool enough to handle, and it can be moved to dry storage casks or reprocessed. As opposed to current light water reactors which use uranium-235 (0.7% of all natural uranium), fast breeder reactors use uranium-238 (99.3% of all natural uranium). It has been estimated that there is up to five billion years’ worth of uranium-238 for use in these power plants.[33]
PS: The five billion year figure makes some assumptions about the rate of use but once you start looking into the numbers it's far enough into the future that our predictions are just about meaningless.
Edit: There are a lot of odd regulations and political history around whey we do it this way but long term supply is not the real issue with fission.
That's not to say that entrepreneurs aren't making headway and closing the gap... Soon. Can't wait!