Antinuclear

Nuclear industry, and hence the uranium industry – on the road to collapsing

The nuclear house of cards Online opinion,  By Mia Pepper –  Thursday, 20 November 2014  “…….. While the nuclear ideologues are charging ahead, many investors are treading carefully.

Mining journalist Dryblower this week made an interesting distinction between uranium and other minerals: “Because uranium is really not part of the pure mining industry but an arm of the nuclear industry it’s easy to understand why most investors prefer simpler metals where there is a chance that a discovery can be brought into production without incurring multiple layers of complexity.”………..

The marginal and short-term increase in uranium is hardly cause for celebration. Even from the miners’ point of view, there is little to celebrate since the current price is barely half that needed to make new mines viable or profitable.

All this excitement is really based on the hope from the industry that there will be a long-term increase in the demand for uranium. Often pointing to new build reactors in India and China, the industry is optimistic.

However according the World Nuclear Industry Status Report of 2014 there are currently 39 operating reactors that are operating over their 40 year life expectancy and due for closure. The report projects a long term decline in the number of reactors after 2020.

Likewise, in a report released last week the International Energy Agency warns of a looming “wave of retirements” of ageing reactors with almost 200 of the 434 reactors expected to be shut down by 2040. IEA chief economist Faith Bristolsaid: “I am afraid we are not well-prepared in terms of policies and funds which are devoted to decommissioning. A major concern for all of us is how we are going to deal with this massive surge in retirements in nuclear power plants.”

In the face of nuclear war, nuclear disaster, public opposition, financial struggle, and the growth and competitiveness of renewable technologies, the house of cards that is the nuclear industry is bound to collapse again. http://www.onlineopinion.com.au/view.asp?article=16869

November 22, 2014 - Posted by Christina Macpherson | General News