Celente says Iran War will fuel massive bull market in uranium.

IRAN WAR SPARKS “NUCLEAR RENAISSANCE”
March 24 (King World News) – Gerald Celente:  The Iran war has created “the worst energy shock the world has seen since the 1970s,” the Financial Times said, which has reminded the world that a major portion of its oil supply is at perpetual geopolitical risk.

That reminder is accelerating a budding “nuclear renaissance” as nations suddenly see a greater urgency in finding more reliable sources of power, Boris Schurcht, CEO of nuclear fuel supplier Urenco, told the FT.

Urenco now has more than $21 billion worth of orders for its products, he added.

“The supply crisis in the Middle East will focus policymakers and industry on the need to have some form of baseload power that is independent from supply threats,” he said.

The needed volumes of nuclear fuel are vastly smaller than those for oil and gas, Schurcht pointed out. They also last far longer and utilities with nuclear power plants typically have at least two years’ worth of fuel stored on site.

The nuclear power industry puckered after the 2011 Fukushima reactor meltdown in Japan. It began to revive after Russia attacked Ukraine, Russia shut off gas exports to Europe, and Western powers banned fossil fuel imports from Russia.

Also, in the interim, a new generation of nuclear power plants began to emerge – smaller, safer, portable, and that could be built in factories and delivered on trucks instead of being built over years on sprawling construction sites. (See “A New Generation of Nuclear Power Plants is Here,” (9 Aug 2022).

Reducing Europe’s nuclear power capabilities over the past 15 years has been a “strategic mistake,” European Union Ursula von der Leyen acknowledged in a speech last week. 

The region’s reliance on imported natural gas has sent fuel prices soaring, a problem now even more acute after Iranian missiles have done long-term damage to the world’s largest liquefied natural gas export terminal in Qatar.

“Even if oil and gas price increases are transient, the closure of the [Strait of Hormuz] raises questions about the security of supply,” Julien Doumolin-Smith, a Jeffries analyst, said in an FT interview. “People will now think more about subsidizing nuclear and solar, which are less reliant on imported fuels” from global danger zones.

Now even Japan is moving to restart its mothballed reactors.

“Governments realize they need to not rely on anyone for their energy and nuclear offers a way to do that,” CEO Seth Grae at Lightbridge Corp., a nuclear fuel supplier, pointed out to the FT.

Here’s What I’m Doing With My Own Money Right Now
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