Saturday, March 3, 2007

Radioactive Supply & Demand

One of the consequences of skyrocketing gas & oil prices, political and geological uncertainties surrounding existing supplies, and growing concerns about greenhouse gas-producing emissions has been a dramatic increase in the number of uranium-powered nuclear reactors either under construction or already brought online in the past decade. Reactors that were fed by existing stockpiles of uranium leftover from nuclear power's 1970's glory days. But now that those supplies have dwindled, there's been a global run on uranium. So much so that the price has jumped from roughly $10/pound ten years ago to $85/pound today. And with yearly demand far outpacing production, the pressure on price doesn't look like it will let up anytime soon.

Uranium. It's the new oil.

Posted by Judah in:  Markets & Finance   The Natural World   

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