"The True Cost of the Atomic Myth: "Uranium Dollars" and the Economics of Nuclear Power
The atom scientists of the 1930s- names we still know today, like Fermi and Einstein, argued about those subjects too. But being scientists, they were not especially concerned by what it would all cost. Only later, with the founding of the UN’s Atomic Energy Agency in 1956 – which is essentially a promotional agency for nuclear power – were the key subjects of entrepreneurial effort and the obligatorily linked need for government subsidies brought into the fray.
Setting aside this sheer madness, for the last 10 years and especially since 2005, nuclear mercantilism has rapidly grown as the effective and real mover. This extends far beyond simple market and sales maximising strategy, and the strategy is likely coordinated at high level among the key members of the NSG, who number less than 15 OECD countries.
Our fuel is uranium and this fuel is very far from rivalling world oil or other hydrocarbons for global turnover, with an approximate value around 13 billion USD in 2010, but as the nuclear industry likes to crow, uranium fuel costs are only around five percent of total operating costs. Uranium supplies are short, and import dependence for most major consumer countries is high. As a result, uranium fuel costs could likely grow, simply due to the permanent supply shortfall of this fuel for reactors and the heavy import dependence of nearly all major users in Europe, Japan and South Korea – incidentally making a mockery of the energy security claim used to sell nuclear energy.
Accessing uranium supplies, mainly in Africa and Central Asia is already a bargaining chip for nuclear financial packaging and uranium supply features among the underlying movers in Chinese rivalry with OECD country interests in Africa, and Russian versus Western rivalry in Muslim Central Asia. Creating the debt-and-dependency hook, and recycling uranium dollars is therefore part and parcel of the nuclear sales drive in starkly unprepared low income countries – in the case of Sudan (Darfur is home to one of the three largest deposits of high-purity uranium in the world), a long-term civil war and in many others exposed to serious civil strife.
Until the Fukushima disaster threw a cloud over the so-called Nuclear Renaissance announced by the nuclear industry, this prefigured as many as 100 – 125 reactor sales in emerging and developing countries outside China and India in the 2010-2020 period. Excluding uranium supplies, fuel services (waste and reprocessing), electric power infrastructures and other parts of the nuclear value chain this pre-Fukushima sales target implied a global 10-year turnover value of at least 700 billion USD."http://globalresearch.ca/index.php?context=va&aid=24457