U.S. Nuclear Industry Must Find Vast Supplies of Uranium before Next Year

U.S. Nuclear Industry Must Find Vast Supplies of Uranium before Next Year

by energydigital@oilprice.com (Energy Digital)

THE SUPPLY CRUNCH Although nuclear power growth will continue to be driven by emerging economies like China, India, South Korea and even Saudi Arabia, the biggest consumer of uranium in the world today is still the US. There are some 104 nuclear reactors operating in the US, generating about 20 percent of total US electricity. In terms of uranium consumed by utilities, that translates into 55 million pounds of uranium per year. Currently, however, uranium mining in the US only provides about 3.5-4 million lbs per year.In the late 1970s, the US…Read more...