announced last week that it would supply some $8.3 billion in loan guarantees - to eventually grow to $54 billion - for a build out of nuclear power plants in the United States predicated on the idea that nuclear power produces no CO2 emissions.
Also this week, the head uranium giant Cameco (CCO), Jerry Grandey, stated that the nuclear energy industry is entering a renaissance and he is looking forward to reaping the benefits of the increased demand for reactor fuel. Accompanying all the bullish news out of the sector this week, was comments from a climate change academic at the University of Adelaide in Australia. Following his research, Professor Barry Brook has predicted that the global demand for mined uranium will rise at least four times in the next 30 years. Speaking at the Paydirt 2010 Australian Uranium Conference a couple days ago, Brook said rising electricity demands and reduced fossil fuel use would guarantee uranium demand for "at least the next 50 years." He added, "Nuclear power is rapidly approaching a renaissance, even if it has not quite arrived yet." He also highlighted that China has recognised the environmental damage caused by coal-fired power stations and has already guaranteed that nuclear power will be a central platform of its energy future.