PDN 0.48% $12.48 paladin energy ltd

germany announces end to nuclear power by 2022, page-8

  1. 5,798 Posts.
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    They are actually being hypocritical in the extreme.

    They were in the process of phasing out nuclear power anyway, but then discovered that the windmills alone wouldn't cut the mustard (apart from being eyesores), so they were in the process of reintrodugin nuclear.

    So, this announcement that they will go back to phasing them out, which is what they were doing anyway, will still take 11 years (by the end of 2022) and will please the voters.

    However - and this is where the hypocrisy comes in - they will still need to buy power from their next door neighbour - France. And 80% of France's power is nuclear - has been since 1978.

    So Germany, in the ultimate NIMBY exercise (Not In My Back Yard) will phase out the nukes as they were going to do anyway, but still buy nuclear power from the power stations next door.

    It's either that or sit shivering in the dark.

    And as has been pointed out - Germany only forms a tiny fraction of the world uranium market.

    Don't forget that Paladin can - and does - sell to India direct from its Namibian mine and Malawi mine, as they are not subject to export restrictions that are placed on Australian mines. This applies even though Paladin is an Australian company.

 
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