Under current deals, "The United States relies on Russia for half its Nuclear fuel" ....That deal will end in 2013, leaving a substantial supply gap for the United States, according to MIT.
Many do not know that vast majority or U.S. nuclear fuel supply is mostly imported, coming from Russia, Australia, Canada, Namibia, and, most recently, Kazakhstan. While the world is gearing up for the "renaissance for nuclear power", MIT is warning that fuel supply constraints could send these nuclear power plants into the dark ages. The lack of global investment in uranium mines, enrichment facilities and demand is also boosting the price of the fuel. A few years ago uranium inventories were being sold at $10 per pound, while the current price is $85 per pound.
Meanwhile, China, India, and Russia have plans for massive deployments of nuclear power and are trying to lock up supplies from countries on which the United States has traditionally relied. Neff is calling for massive new investments in uranium mining and processing facilities.
See the MIT press release. http://web.mit.edu/newsoffice/2007/fuel-supply.html
See the MIT press release. http://web.mit.edu/newsoffice/2007/fuel-supply.html
