“China's got a massive plan to build many more nuclear power plants -- $50 billion and 32 plants by 2020,” notes Mayer. “The ‘whisper’ number of 300 more by the middle of the century is even more mind-blowing.”
Despite China’s rapidly growing appetite for oil (now second only to the U.S., as we reported yesterday ), the red nation is far behind on a nuclear scale. Only 2.3% of the country’s electricity is derived from nuclear power. Compared with 20% here in the U.S. or an incredible 80% in France…China’s got a long way to go.
“Given what China's demand for other commodities has done for the prices of those commodities, we should take note of its new surge into nuclear power. It would seem to bode well for the price of uranium and the profits of those who sell it.
“Even if uranium prices doubled over the next few years, nuclear energy would remain an extremely competitive energy source. Eventually, of course, new uranium mines will come online. And eventually, of course, the price of uranium might retreat. But so what; the price might soar in the meantime, especially because demand seems certain to increase sharply.”
go check the Uranium stock on the google finance if you are searching sth for your IRA account.
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