Categories: Energy / General Market Commentary
Topics: General Energy / General Market Commentary

Domestic uranium is necessary for national security, healthy nuclear energy programs

Sept. 20, 2018

America used to export uranium, but now it is dependent on other countries. In order to protect ourselves, we need to increase uranium mining.

When I served as Energy secretary under President George W. Bush, our administration was deeply concerned that over 50% of our oil was imported, with much of it coming from unstable places. We considered this a major national security matter.

Today, that national security concern has been solved through a combination of American ingenuity, technology and fully embracing our abundant natural resources. But now, we face a similar national security challenge. The U.S. nuclear fleet, generating 20% of this country’s electricity (and about 60% of our carbon-free energy) has become almost entirely dependent on foreign uranium, much of it from countries with elevated geopolitical risks.

At its peak in 1980, U.S. uranium production stood at 43.7 million pounds, enough to supply all of our U.S. reactors and a substantial portion of our allies’ requirements.

In 2017, U.S. uranium production was less than 2.4 million pounds, accounting for about 5% of the nation’s requirements, even though our uranium reserves are sufficient to meet our domestic demand.

National security depends on uranium

This is a recipe for disaster in today’s complex and unpredictable global environment. Reducing dependence on imported oil was a national objective. We must make the same commitment to reducing imports of uranium.

Underscoring the vulnerability to our national security, the Russian Duma recently proposed legislation to terminate all nuclear cooperation with the United States and its allies. This included nuclear fuel supply. The United States imports about 40% of the uranium needed to fuel our domestic reactors from Russia, Kazakhstan and Uzbekistan. In a case of ultimate irony, The Wall Street Journal recently reported that Russian hackers have made their way into the control rooms of U.S. electric utility companies, the same “valued” customers of Russian nuclear fuel.

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Categories: Energy / General Market Commentary Topics: General Energy / General Market Commentary

Domestic uranium is necessary for national security, healthy nuclear energy programs

Categories: Energy / General Market Commentary
Topics: General Energy / General Market Commentary