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Thanks to considerably higher energy costs, the demand for nuclear power continues to rise.
This year alone, 65 nuclear power plants are under construction, another 160 new reactors are currently in the planning stages, and 340 more have been proposed. Even Japan is now shifting its stance on nuclear power. According to Japan Today, newly elected Prime Minister Shinzo Abe now says he is willing to build new nuclear reactors.
The demand for uranium is clearly going to be getting stronger, which presents a problem. There is already a uranium supply deficit of 40 million pounds a year.
But supply and demand are only part of the uranium story...
While the Fukushima nuclear disaster in Japan in March 2011 stirred a lot of talk about abandoning nuclear power, nations have since come to realize their energy needs can't be met without nuclear being part of the equation.
The Japanese blowout scared the public so badly, in fact, that many governments vowed to severely cut back on nuclear power. Germany said it would quit using it altogether.
But then reality struck.
Major export economies in Europe and Asia have energy-intensive industries that can't just dump nuclear energy overnight.
The best proof that nuclear is not going away is right in Japan, which already has been forced to restart two reactors, and more will be restarted soon.
The Prime Minister of Japan called restarting the reactors a "matter of national survival," because the high cost of imported liquid natural gas was crippling the economy.
And nuclear energy has proven itself to be a safe alternative to the smog-belching coal plants in emerging countries like China and India.
Even oil-rich countries like Saudi Arabia are building new nuclear reactors now -- a clear sign nuclear energy is here to stay.
Simply put, the world not only needs low-cost nuclear power - it needs more, not less of it.
And uranium is the only fuel that can possibly give billions of new consumers in energy-starved countries like India and China the power they need.