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what does tomorrow hold?, page-7

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    Not sure if this has been posted... URANIUM prices to more than double within next 12 months...

    The uranium conundrum Robin Bromby From: The Australian December 09, 2009 1:18PM Increase Text SizeDecrease Text SizePrintEmail Share
    Add to DiggAdd to del.icio.usAdd to FacebookAdd to KwoffAdd to MyspaceAdd to NewsvineWhat are these?NOW, let's get this straight. Much of the media in the past week has been lambasting Tony Abbott for being a conservative, yet the new Liberal leader is open to a discussion on nuclear energy for Australia.
    Prime Minister Kevin Rudd, who is ostensibly on the progressive side of politics, has ruled out such a discussion.

    Abbott is a “humans-are-causing-climate-change” agnostic/sceptic, but one with a professed open mind on the subject.

    We know where Rudd stands - he believes urgent action is needed lest Bendigo and Charleville become the new seaside places to build that weekender. Yet there is a considerable body of scientific opinion on the side of the argument that nuclear offers a way to provide large quantities of electricity with comparably low carbon emissions.

    So a conservative wants to hold a conversation about how nuclear could help reduce emissions, but the left does not.

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    As someone once famously said: please explain.

    But here is the delicious irony: the talkfest now under way in Copenhagen is expected to provide a major boost to the global move towards nuclear generated power, according to the latest energy report out of Brussels from BNP Paribas Fortis Bank. “The much delayed renaissance in the US nuclear power industry will be guaranteed by the Copenhagen accord,” the report adds. The bank is expecting US Energy Secretary Steven Chu to provide government funding for up to another 10 power plants. (Are you with us so far, Kevin?)

    The bank is, as a result of the upsurge in nuclear plant building programs, expecting uranium spot prices to hit $US95/lb next year, almost double their present levels (the price dropped by US50c to $US45/lb last week). The forecast is still a long way from the $US140/lb peak in 2007 but get this - the bank says the looming uranium shortage will mean that figure will be reached again “before too long”.

    Just in the past week we have seen Armenia announce a new 1000 megawatt nuclear plant, the South African power utility say the only way it can reach its emission reduction target by 2020 is if the country has a nuclear plant operating, India has announced four new 700MW plants and Mississippi regulators have approved expanding the generation capacity of the Grand Gulf nuclear power station in that state.

    So, while sobbing uncontrollably about your recently acquired gold stocks which are now looking a little limp or cursing yourself for not getting in on the ground floor for potash and phosphate, this might be the time to start paying attention to what the uranium plays are up to.
 
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