MacAllister reported in 2007 that our demand for electricity can become greater than our supply. In 2006, uranium became a star in the marketplace. Now, it is situated to be the next hot commodity for 2007? However, ls uranium the answer for our energy crisis? Well, let's look at the issues, the metal, the market, the players, the investment potential, and where the uranium is taking us?
THE METAL
Nature has provided us with a useful metal called uranium. Like gold or lead, uranium occurs naturally throughout the world's crust. It is 500 times more abundant than gold and is as common as tin. Uranium was discovered in 1789 by a German chemist, Martin Klaproth. It took till the 20th Century for uranium to be used. The basic difference from other minerals is that uranium can be used to make energy....aka electricity. Energy is derived from uranium as a result of its atomic structure, which can be changed in a process that releases energy in the form of heat. This causes a splitting of uranium atoms into a chain reaction that releases energy inside a nuclear reactor. This creates heat energy produced by fission (splitting the atom) that boils water into steam. This steam drives a turbine generator, which produces electricity. Inside a nuclear reactor is where the heat creates electricity. Consequently. nuclear energy is born. Environmentally, the good news is it produces electricity without emitting greenhouse gases.
THE ISSUES
The following are three main uranium issues that concern us:
1 Our need to find alternative and economic fuels
With fluctuating oil and gas prices and uncertain future supplies of fossil fuels, the logical and economic form of electricity pulls us towards nuclear energy. Uranium can be used for electricity. space exploration. food, safety, medicine and other non-energy uses. The most common use for uranium is as fuel. This fuel creates nuclear power which generates 16% of the world's electricity. Nuclear power produces electricity cheaper than alternatives such as gas, oil, coal, wind power and solar. Moreover. it does it cleanly without toxic or carbon dioxide emissions. The electricity produced is continuous, reliable, supplies considerable demand and produces virtually no emissions.
2 The possible use of uranium in nuclear weapons
Many know the only time uranium was used as a nuclear weapon was during World War II. After the war, the Nuclear Non-Proliferation Treaty (NPT) was setup by the United Nations. For now, the NPT has managed to keep safe checks and balances in place for both camps for those against weapons and for those for civil nuclear power. However, level-heads must prevail in order for uranium not to be used for sinister means.
3 How safe is nuclear energy?
It is human error or human intent that has caused accidents, not the actual technology. By all examinations, nuclear energy is clean and cost-effective. The Nuclear Energy Institute did a survey asking randomly people the question:
''Overall, do you strongly favor, somewhat favor, somewhat oppose the use of nuclear energy as one of the ways to provide electricity in the United States?"
The results showed 70% favored nuclear energy and 24% were opposed, and the rest were undecided. Today, nuclear power plants are designed so that any major problem is contained within the structure. This applies to wastes which are contained and not released into the environment. The cost of waste management and disposal is incorporated in the cost of the electricity produced. Reputable uranium mining companies such as those in Canada and Australia operate under the ISO 14001 certification, which sets and requires a very high international standard environmentally.
Amongst safety issues, it is important to note that nuclear power is cleaner than fossil fuels which emit carbon dioxide. Over two billion tons of such emissions are avoided every year because of nuclear power. France has a stellar record for avoiding such emissions because more than 80% of its electricity is derived from nuclear energy. This clean power is poised to be the new wave of the future especially with the world experiencing a climate change.
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