Odd Lots What the Nuclear Power Revival Means for the Price of Uranium
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Nov 1, 2024 
Bob Brackett, head of Americas energy and transition at Bernstein Research, dives into the rising interest in nuclear power and its impact on uranium prices. He humorously compares uranium's price dynamics to the wild world of Bitcoin, revealing the complexities of supply and demand. The conversation touches on how uranium mining regulations and historical price movements shape market perceptions. Brackett also explores the interplay between nuclear and renewable energy, highlighting the future of clean energy amidst changing global policies.
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Uranium Price Volatility
- Uranium's price is hard to predict due to its inelastic demand.
- Nuclear plants rarely shut down due to uranium price fluctuations, as it's a small part of their total costs.
Uranium Price Drivers
- Speculators can influence short-term price movements, but the long-term trend for uranium prices correlates with nuclear incidents.
- Disasters like Fukushima and Three Mile Island cause price corrections.
Tech's Nuclear Appetite
- Big tech companies' interest in nuclear power marks a turning point for uranium demand.
- They seek stable, reliable energy for their growing needs, regardless of potential PR issues.
