The BP oil spill in the Gulf of Mexico has once again focused attention on alternative energy sources. One such alternative energy is nuclear energy, which is a major player globally in the production of electricity. Of course, the fuel which powers nuclear reactors is uranium and demand for uranium is rising globally. One company striving to meet that demand is Uranium Energy Corporation.
Uranium Energy Corporation is on the cutting edge of uranium development in the United States. It hopes to spark a revival in the US uranium industry which has been dormant for 18 years. The company controls one of the largest uranium databases that detail the history of uranium exploration in the US and where the main deposits are located.
Using this information, the company targets properties in the southwestern states that have been the subject of significant exploration and development by mining companies in the past. This information gives Uranium Energy a significant advantage over its competitors in the search for uranium that can be produced profitably on a cost efficient basis.
The company believes that nuclear power will become a more important source of energy, even here in the United States. Not only is nuclear power a clean, emissions-free way of generating electricity, but it also considered a “base load power”, providing electricity at a constant and continuous rate for about two years. In layman’s terms, this means nuclear power is highly reliable and not dependent on Mother Nature as are wind and solar power.
Uranium Energy is confident that electricity generated from nuclear power will climb above the 20 percent level in the United States, where it has been for decades. That confidence stems in part from the Obama Administration energy budget, which was unveiled in February. It earmarked $50 billion toward constructing new nuclear reactors in the United States. With strong political backing, there may be a nuclear revival in the United States which will clearly benefit Uranium Energy Corporation.
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