Nuclear power is an excellent option in times of high energy costs.
In 2005, renewable energy accounted for less than 6 percent of US energy supply. But with energy prices on the rise, these alternative and renewable technologies are grabbing far more than their fair share of the limelight.
What’s the cheapest source of power deep in the heart of Texas? If you answered natural gas, you’re way off. Burning gas produces over half the electricity in the Lone Star State.
A wrapup of 2005 which examines the performance of The Energy Strategist’s key investment themes as well as some of the individual recommendations.
At first blush, alternative energy certainly might seem like the perfect answer to spiking energy prices and surging global electricity demand. But the fact is that when it comes to meeting global energy demands, there are no perfect solutions, nor is there a single emerging technology that can meet all demands.
Oil and natural gas hog the limelight when it comes to the energy markets, for good reason: oil remains the world’s primary transportation fuel and gas is the fastest-growing fuel for power plants. But nuclear energy is gaining ground as it is recognized as a cheap environmentally friendly alternative. This is turn increases the world’s demand for uranium.
With rising natural gas prices and the pollution generated by burning coal, nuclear energy is a cheap and environmentally friendly way of producing energy. With much of Europe already dependent on nuclear energy and fast-growing nations like China and India planning to make nuclear power a centerpiece of their respective national electricity policies, there will be increased demand for uranium. With this demand comes the excellent profit potential in the form of uranium mining companies.
