Nuclear Energy and Uranium Shortages

A few people commented on my piece about nuclear energy last week, and scolded me for believing that shortages of uranium may be one of many serious issues confronting this beleaguered industry. I’m not the only one who sees this, however. Editor of Peak Oil Review and former CIA analyst Tom Whipple writes this week:

China’s demand for uranium may rise to 20,000 tons a year by 2020. That translates into more than a third of the 50,500 tons mined globally last year. All of the world’s current uranium output currently has a market, supplying the existing global demand for uranium. Don’t be surprised to see uranium in shortage by the second half of this decade. Looking ahead, there’s just not enough new production in the planning stages. The world needs new mines, but startup costs are much higher than 10 or 20 years ago.

China currently has 12 reactors in operation and another 23 under construction, with others in development, according to the World Nuclear Association.