The US Is More Dependent On Foreign Uranium Than Foreign Oil

The US Is More Dependent On Foreign Uranium Than Foreign Oil

by Tommy Humphreys

Recently we sat down with Amir Adnani, CEO of Uranium Energy Corp. ($UEC), an American uranium mining company, for a conversation on the nuclear industry eighteen months after the catastrophe at Fukushima which devastated both Japan and most uranium miners’ share prices.
One of the most critical issues we discussed in our interview was the severity of the US uranium supply and demand deficit. According to Adnani, “The US is consuming 55 million pounds of uranium per annum…to generate 20% of US electricity…[but] domestic production of uranium is only 4 million pounds per year…The US is more dependent on foreign uranium than it is on foreign oil.”http://www.businessinsider.com/the-us-is-more-dependent-on-foreign-uranium-than-foreign-oil-2012-9?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29&utm_content=Google+Reader