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Financial meltdown to end “nuclear renaissance”?

U.S. Energy Secretary Sam Bodman, speaking to reporters during an international energy conference in Paris this week, said that long-term energy projects like building new nuclear plants could be at significant risk and “the most difficult to finance” because of the growing global financial crisis. With the global financial domino effect continuing to fall out of the subprime mortgage collapse, Bodman said a “nuclear renaissance” has the most to lose. In an Associated Press report, Bodman forecasted that a failure of the U.S. to resolve the ongoing financial crisis would have “a significant impact” on energy demand and said “that’s what leads to the need to come up with a solution.”

Our View: What that “solution” might be is an open question and raises the concern that the Bush financial “rescue effort” could hide federal backing for the high stakes rollers of new atomic power plant projects. A lot of pork can be stampeded through Congress in this $700 billion financial bailout of bad loans of historic proportions. This would be particularly true for a notoriously risky nuclear power industry that cannot attract financing other than unlimited federal taxpayer dollars.

October 3, 2008 Posted by | business and costs | | 1 Comment

www.miningmx.com | energy Downward pressures remain on uranium prices

Downward pressures remain on uranium prices
miningmx Allan Seccombe
2 Oct 2008 – “………………uranium companies face difficulties raising finance, raising the possibility of consolidation, Australia’s Resource Capital Research said.The spot price, according to Trade Tech, is $55/lb, down from last year’s all-time high of $138 reached in July.“Forward indicators (fund implied price – FIP) currently indicate an expectation for the uranium price to trade in the range $50-65/lb, potentially with downside trending pressure,” RCR said in a statement……………………………….Uranium companies, particularly the smaller players, have been hit hard by the down turn in the markets and global economic turmoil……………………….“Producers, however, could face significant challenges in financing and developing new projects, including spiralling cost pressures and potential delays variously relating to permitting, infrastructure development and commissioning,” it added.


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October 3, 2008 Posted by | business and costs | Leave a comment

Labour, land woes may dog Indian nuclear power | Top News | Reuters

Labour, land woes may dog Indian nuclear power

By Himangshu Watts

NEW DELHI (Reuters) – A U.S. civilian nuclear deal with India opens the taps to the country’s fuel-starved reactors, paving the way for them to double output, but building new capacity looks tricky.

Obstacles such as land acquisition — already putting the brakes on projects like Tata Motors’ low-cost Nano car — and a shortage of engineers mean the industry could struggle to attract what the Confederation of Indian Industry hopes will be $27 billion in 18-20 nuclear plants over the next 15 years………………………

For a nuclear plant, additional concerns about the environmental and health impact could also anger activists and local residents.

Last year, tribesmen in Meghalaya staged a five-day campaign to protest against government plans to mine uranium, saying this could affect the health of villagers in the area, home to the largest deposits in the country.

Labour, land woes may dog Indian nuclear power | Top News | Reuters

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October 3, 2008 Posted by | business and costs | Leave a comment