Post Wed Dec 21, 2011 10:51 am

2013: The Global Race for Uranium

The Global Race for Uranium

Dependence on foreign oil; cross-state-pollution rules to limit use of coal; now a third energy-source crisis is on the horizon for the U.S.

It can be overwhelming to think about energy security in the United States. Fully 55% of the nation's oil suppliers are inherently unstable or are unfriendly toward it, while another 14% have declining production. As the world's biggest per capita consumer of oil, it's not a good situation.

From a Casey Reaearch Report: After 18 years, Megatons to Megawatts is set to expire in 2013. [This was a program to sell Russian Nuclear Bomb Uranium to the U.S. for Nuclear Fuel.] It will not be extended because it made the US reliant on Russia for uranium but also restricted Russian uranium producers from selling directly to US utilities. With the States now addicted to uranium, Russia is drooling over the opportunity to sell uranium to the US at market rates. When Megatons ends, the US will be forced to join the global battle for uranium. And guess what? There is not enough. Well, right now there is just enough uranium - including that from decommissioned warheads - to feed the world's 440 operating reactors. But with 62 more under construction, another 156 planned, and a further 343 proposed, uranium demand is set to outpace supply in the next five to ten years.