Nuclear industry sees revival as Mideast crisis pushes oil to $100
The nuclear industry could benefit from the current bout of global energy insecurity as attacks on three more cargo ships in the Gulf push oil prices toward $100.
Boris Schucht, CEO of uranium enrichment company Urenco, told the Financial Times that a “nuclear renaissance” is underway, with the company holding a record $21.3 billion order book for uranium and fuel products.
“The supply crisis in the Middle East will refocus policymakers and industry on energy security and the need to have some form of baseload power in countries that is independent from supply threats,” Schucht said.
Analysts say the crisis is prompting governments from Europe to Japan to accelerate nuclear plans, while European Commission President Ursula von der Leyen called the continent’s earlier retreat from nuclear power a “strategic mistake.”