| dec 11 2006 | | Buy Uranium II | More support for the uranium story comes with the latest report entitled, "Australia's Uranium: Greenhouse friendly fuel for an energy hungry world" from Australian House of Representatives. Basically saying that nuclear is the only viable clean alternative to dwindling oil. Coal is the dirtiest alternative, though widely available and cheap the world does not need India and China building hundreds if not thousands of coal fired power generation stations, as the resulting pollution would engulf the world with even more Co2 and particulate. Consider that a 500 mega watt coal-fired power plant provides about 3.5 billion kilowatt hours of juice per year. That's enough to power a city of 140,000 people and enough to consume about 1.4 million tons of coal. With Asia needing power for up to a billion people in the near future, do the maths. There are already 442 operating nuclear reactors in various countries around the world. At the moment 28 reactors are under construction and 62 are being drawn up. China currently gets 1.6% of its power from nuclear generation compared to Finland 33%. Germany 31%, Hungary 37%, South Korea 45%, and the USA 20%. Which way do you think China will go? Incidently, Australia is home to 38% of the world’s low-cost uranium reserves but does not operate a single nuclear power plant
Uranium recent move from $56 to $60 a pound was “the largest weekly increase on record,” according to Eric Webb of Ux Consulting. Long-term forecasts of $75 and even $100 a pound now appear justified; uranium would have to trade above $111 a pound to break its inflation-adjusted highs from 1978. I see a double from here. Buy Uranium.
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