Weapons to Plowshares goes bankrupt

There was a recent post that declared that the price for uranium has fallen:

The United States Enrichment Corporation (USEC), the executive agent in the Megatons to Megawatts program – the highly enriched uranium purchase agreement between the United States and Russia, filed for bankruptcy, as its shares plummeted by another 46% in premarket trading on Wednesday.  The company, based in Bethesda, Maryland, has 505 employees, but will be unable to repay debts due by October, 2014.  Since the March 2011 nuclear disaster at Fukushima Daiichi, uranium prices have fallen more than 30 percent, and with the closure of over 50 reactors in Japan and Germany – combined with the shutdown of multiple facilities in the United States, demand for nuclear fuel is low causing fuel prices to dramatically drop in price.   One of USEC’s largest customers before 2011 was Tokyo Electric, the operator of the crippled Fukushima Daiichi nuclear facility.  The company also provides services for Exelon and Entergy.

The cold war has ended.   Russia has given us their nuclear war heads, and we have reprocessed this into fuel for nuclear reactors.  Now the world market  for nuclear fuel has collapsed    The supply exceeds the demand.  Perhaps this will lead to the shutting down of uranium mines around the world.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s