Uranium Exploration and Global Warming

Global Warming: Given the current political environment, a major issue is combating global warming. Global warming is the result of carbon dioxide emitting into the atmosphere caused by the burning of combustible fuel. This includes oil, coal and wood. Certain people believe that global warming is causing climate change. To decrease the effects of global warming, more clean-burning energy are needed. Nuclear energy is one of the few sources that have zero emissions, is economic and reliable. Compared to wind power, its turbines run only approximately 35% of the time.

A Steady Source Of Supply: The potential for most new oil and gas finds are located in politically unstable regions such as Africa and the Middle East. Furthermore, China is making inroads with these nations in securing supplies of oil and gas. Unlike the Western governments, China does not require economic and democratic reforms when doing business. With uranium, most of the reserves are found in politically stable countries. Australia, Canada and the United States have 42% of the world’s recoverable uranium. Australia and Canada account for approximately 50% of world uranium production.

Improved and Safer Technology: The new generation of nuclear reactors is safer than the ones currently in operation. The latest reactors have big tanks of water above them ready to dump water on the core if a problem arises. The older reactors rely on a network of pumps, valves and pipes operated by humans and electricity to channel water. The main challenge for the nuclear power industry is the disposing of waste. There is strong political resistance by population groups to having storage facilities near their towns or cities. Many experts believe nuclear waste requires a minimum of 100 years to become safe.

Competitive Costs: Yes, the construction costs of nuclear power plants are much higher than for coal or gas fired plants due to its greater complexities. Once up and running, the costs of running a nuclear power plant is not that much different and in many cases, lower than its fossil fuel burning power plants. If long-term forecasts hold true, the price of natural gas will be significantly higher. Coal, on the other hand, is expected to remain economically attractive in countries with plentiful and accessible domestic coal resources as long as carbon emissions are cost-free. Countries with sizeable coal deposits include Australia, China and the United States.