Nuclear Is Not Dead, Uranium Supply Deficit Could Be On The Horizon

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 07/10/15

John Manfreda reports that since the Fukushima incident, investors have given up on the idea of investing in nuclear power and anything that pertains to it. The Economist even said that nuclear power was the dream that failed. This statement was not made irrationally, as Japan and Germany closed down all of their operating reactors due to that incident. These closures also prompted Japanese utility companies to sell uranium on to the open market, which helped trigger a large price decline. Despite recent events though, the future of the uranium mining industry, and nuclear power, still looks bright. In the nuclear power industry, one country is considered the main catalyst for growth, and that is China. Russia is also increasing its nuclear fuel use as well. Russia has eight reactors under construction at present, with one of them being a large fast neutron reactor. India has six reactors under construction. Finland is constructing its fifth large nuclear reactor with the first estimated to come on line by 2017. South Korea is now planning to restart four nuclear reactors by 2018, and the U.S. has five nuclear reactors under construction with plans to build five more after that. Before the Fukushima incident occurred, 30 percent of the Japan energy needs were provided by nuclear power, with plans of expanding its use by 50 percent. Another reason Japan will inevitably revert back to its past use of nuclear power, is due to the consequences Japan had to suffer during the oil shock of 1973, due to the OPEC oil embargo. So, Manfreda concludes that the dream of nuclear power still looks bright. The need for base-load electricity is too great. The uranium reserves will increase as the need develops. The only thing that could derail the industry is if another Fukushima-type event occurs ... but we now know that such incidents can be handled, just like any oil refinery explosion. It would only be an industrial accident, not the end of the world, Jane Fonda...