World Is Running Out Of Uranium
There will be a global shortage of uranium. Semafor reports, “Known uranium deposits will run out by 2080 if demand for nuclear energy continues to grow, industry bodies said.” It adds that the majority comes from Kazakstan, Canada, and Nabimia.
Rosatom, based in Russia, builds a very large portion of the globe’s rectors. Oil.com says this is because the company has done a good job creating relationships with uranium sources.
The problem is particularly acute in the US. The need for electricity has soared due to the jumps in air conditioning use caused by global warming, AI server farms, and Bitcoin mining. The IEA forecasts that the electricity consumption of AI data centers could reach roughly 1,000 terawatt-hours (TWh) by 2026. That is about equivalent to Japan’s current total consumption.
US Nuclear Only 20% Of Energy
The US has a long way to go. Less than 20% of electricity is generated by nuclear. Wind and solar have not been able to make up for lowering gas and coal as fuels. While older reactors can be restarted, the sector’s future is SMRs. The International Atomic Energy Agency. “Small modular reactors (SMRs) are advanced nuclear reactors that have a power capacity of up to 300 MW(e) per unit, which is about one-third of the generating capacity of traditional nuclear power reactors.”
SMRs will require several years of development and government approvals. The uranium supply will have dwindled by the time they are up and running.
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