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The Paradigm Shift of Sky-high Oil

By George Bell

I don’t usually mention uranium, or oil - for obvious reasons. However, with oil trading near $130 a barrel, the cost of energy demands attention.

Clearly - with the recent threat of Russian Peak Oil and potential supply disruptions - the present price of crude indicates speculators could likely be seeking sky-high prices still.

However, when oil rockets (and looks like it will stay stratospheric), major energy players begin looking for alternative sources of fuel and energy to compensate.

On another front, the spot price of nuclear fuel - uranium - is up about 100% since 2005, with uranium oxide (U308), the main building block in nuclear fuel, at $60 a pound, down from the high of $138 per pound seen in 2007.

george bell column may 21

Dollar for dollar though -- nuclear power is now cheaper than gas energy, as measured via cost in kilowatt per hour, even after substantial plant costs, as noted by World-Nuclear.org. (The aforementioned considers NYMEX natural gas has appreciated roughly 40% since 2007, while the spot price of uranium has dropped from $90 per pound in December to the present $60.)

Interestingly, France derives 80% of its energy from nuclear and even sells millions of dollars of nuclear electricity to neighboring nations every year.

Wall Street is behind the curve though, when considering the threat of oil running to $150 (or even $200!) dollars a barrel. The main point is that with oil and natural gas at elevated levels, many energy producers are - quietly - seeking out nuclear developments, something investors may want to be aware of.

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