patiently waiting, page-6

LOL Cabe

you know what's going to happen like all the long term holders...


WASHINGTON, April 25 The United States and Japan have signed a deal to move forward with an international plan to increase nuclear power without proliferation.

U.S. Energy Secretary Samuel Bodman and three Japanese ministers signed the United States-Japan Joint Nuclear Energy Action Plan Wednesday during a meeting in Washington.

"By strengthening our joint cooperation in civil nuclear energy, the United States and Japan will also strengthen our strategic interests," Bodman said. "This Action Plan is an historic agreement and provides the additional foundation for our two nations to align efforts to support the global expansion of nuclear energy, and ultimately a nuclear renaissance." Japanese Economy, Trade and Industry Minister Akira Amari, Education and Science Minister Bunmei Ibuki and Foreign Minister Taro Aso signed the deal, the result of a commitment made by the two countries in January to jointly cooperate on enhancing nuclear energy.

A joint steering committee will oversee the core elements of the Action Plan, which includes research and development of the U.S. Global Nuclear Energy Partnership, a plan to increase nuclear energy worldwide while ensuring the materials are recycled and reused instead of available for weapons.

"Not only can nuclear energy serve as a cornerstone of sustainable economic development," Bodman said, "but as a reliable, viable and emissions-free source of power, it offers enormous potential to help meet the world's increasing demand for energy in a safe and proliferation-resistant manner."



STREET PUTS ENERGY BEHIND URANIUM
By ZACHERY KOUWE


April 25, 2007 -- In a bet on the revival of nuclear energy, Wall Street giants including Goldman Sachs and Morgan Stanley are set to move mountains of cash into uranium when it starts trading on the New York Mercantile Exchange next month.
The price of uranium has skyrocketed over the past year from around $40 a pound to around $113 as demand has outstripped supply. Goldman and other investors including hedge funds see big opportunities trading uranium because of its high level of volatility.
Uranium, which is mined by only by a few companies such as Canada's Cameco Corp., is the main commodity used in nuclear power plants. It is not currently traded on an exchange and its price is hard to determine because transactions are private and infrequent.
The price fluctuations have frustrated nuclear power plant operators, who complain that the current spot market is inefficient and provides little price transparency.
The Nymex hopes to capitalize on the desire for a more institutionalized uranium market as well as the appetite in the hedge fund community for more investment products.
The newly created uranium futures contract will begin trading on the Nymex's electronic system on May 7, according to the exchange's VP of marketing Randy Warsager. Most of the Nymex's products are traded on the Chicago Mercantile Exchange's Globex system under a joint agreement between the two markets.
A bevy of hedge funds including Citadel Investment Group, GLG Partners and Fortress Investment Group have set up teams to begin trading uranium. Other traders will include owners of nuclear facilities including Duke Energy, Exelon Corp., and electronic futures broker Alaron Trading.


IMO the Power Utilities will get what they asked for. LOL


Cheers

Xan