Social, Environmental And Governmental Issues Impacting The Uranium Industry

I. INTRODUCTION The challenge of moving the use of nuclear energy from military to civilian use was first issued by President Dwight Eisenhower in his December 8, 1953 “Atoms for Peace” speech delivered at the United Nations. Eisenhower stated: “The United States knows that if the fearful trend of atomic military build up can be reversed, this greatest of destructive forces can be developed into a great boon, for the benefit of all mankind. * * * * The more important responsibility of this Atomic Energy Agency would be to devise methods whereby this fissionable material would be allocated to serve the peaceful pursuits of mankind. Experts would be mobilized to apply atomic energy to the needs of agriculture, medicine, and other peaceful activities. A special purpose would be to provide abundant electrical energy in the power-starved areas of the world. In the 1950’s and 1960’s, the Atomic Energy Commission promoted the use of nuclear power as the answer to our nation’s energy problems. Nuclear power would provide energy too cheap to meter. The utility industry responded and numerous plants were planned with over one hundred constructed from the 1970’s to the 1990’s. Capital costs for nuclear power plants escalated due to permitting changes and public opposition, and the Three Mile Island incident caused new nuclear plant construction to cease. Today, we once again are experiencing a nuclear renaissance. Concerns over global warming and rapid projected increases in the demand for electricity have caused many nations to begin construction of new nuclear fleets. The price of uranium to fuel these reactors, which had dropped to an historical low of $7.10 in 2001, has surged to $56.00 as of October 2006. This paper will review some of the social, environmental, and government issues that are all playing a role in the resurgence of the nuclear fuel industry.