Spent Nuclear Fuel Could Be America's Answer to Russia's Uranium Grip
Kansas Fed Pres Warns Oil Price Shock Might Not Be Transitory Haley Zaremba is an energy journalist and researcher with more than a decade of professional experience covering global energy systems, land and natural resources, and… Nuclear fuel is becoming a geopolitical battleground as the world increasingly turns to nuclear energy to contend with skyrocketing energy demand projections.
The combination of an oil-based energy crisis emanating out of the Strait of Hormuz, the enormous and ballooning energy needs of artificial intelligence, and the urgent imperative of decarbonization is garnering a renewed interest in nuclear energy as a carbon-free, efficient, and round-the-clock power source.
Moreover, nuclear energy can be produced pretty much anywhere, making it a strategic option for energy independence and autonomy.
But the production of nuclear fuel is tied up in a small number of supply chains,many of which are controlled by Russia.
And global prices for uranium arerising quicklythanks to increased international demand.
The World Nuclear Association projects that global uranium demand will increase 28 percent by 2030 and nearly double by 2040, causing increased competition for nuclear fuel in coming years.
Homeshoring and nearshoring nuclear fuel supply chains has therefore become a paramount energy security interest for many nuclear-capable countries.
As the West regains an interest in nuclear energy, however, it may betoo latefor Europe and the United States to get a foothold in key uranium markets.
"Russian and Chinese players have been very keen to secure access to resources in central Asia and Africa, creating a very aggressive competitive environment," Benjamin Godwin at Prism Strategic Intelligence told the Financial Times last year.
SetOilPrice.comas a preferred source in Googlehere.
The United States is taking several simultaneous approaches to solving this issue, as the Trump administration aims toreestablish the U.S.
The country sits atop massive natural uranium deposits, and could one day become a major producer of nuclear fuel.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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