Loan program for nuclear reactors is fizzling, uranium providers slide


Investors in uranium companies are not excited by the U.S. government's plans for $8.3B in nuclear loan guarantees, as the amount is viewed as insufficient and the overall loan program is seen as fizzling, according to a NY Times report.

Funds are coming far later than anticipated and may effectively end a program that Congress established in 2005 to jump-start a new generation of nuclear plants, NYT writes; at one point, the program was expected to support more than $50B in loans for nuclear projects.

USEC (USU -10.8%) is slammed despite reporting another $16.7M in government obligated funds toward development of the American Centrifuge project.

Other uranium providers are lower too: URG -4.1%, DNN -3.7%, URRE -3.7%, UEC -3.5%, URZ -3.2%, CCJ -1%.

ETFs: NLR, NUCL.

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Comments (7)
  • moseslarsen
    , contributor
    Comments (592) | Send Message
     
    The fed'ral gummint is here to help.
    19 Feb 2014, 04:51 PM Reply Like
  • harball
    , contributor
    Comments (400) | Send Message
     
    this says they will provide guarantees to a specific project; nothing said about cutting back on support for nuclear generally. what am I missing?
    19 Feb 2014, 06:22 PM Reply Like
  • G13Man
    , contributor
    Comments (480) | Send Message
     
    cash for clunkers stopped the most serious recycling effort for spent fuel rods 2billion meant to equip the plant , a 1 billion $ plant by the company gone to waste and torn down, so the fed gov is not some one to trust with
    19 Feb 2014, 08:21 PM Reply Like
  • EMoon312
    , contributor
    Comment (1) | Send Message
     
    What the US does won't change the fact that Japan is bringing 10 reactors back online, that Russia is no longer supplying uranium from decommissioned nukes! or that there are hundreds of plants planned around the world. Demand for uranium will still be up up up.
    19 Feb 2014, 11:12 PM Reply Like
  • sbfeibish@jobs.us
    , contributor
    Comments (7) | Send Message
     
    I don't like government spending money. But if they have to spend it how about some thorium fueled reactor research.
    20 Feb 2014, 09:25 AM Reply Like
  • G13Man
    , contributor
    Comments (480) | Send Message
     
    finally , some one else mentions what needs to be done instead of the same failure over again . good job sbfeibish@jobs.us
    23 Feb 2014, 06:42 PM Reply Like
  • llifespanplus
    , contributor
    Comments (23) | Send Message
     
    Uranium is a fiasco. Less than 5% of the energy of the uranium is recovered in a plant, leading to the disposal problem of high level waste, and Fukushima. Where is the research? I believe that early on the oil cartel blocked research and that even now the oil cartel has a hand in limiting Iranian research into more efficient energy recovery. Meanwhile, current US uranium consumption could well power the world, and the earth will die from the CO2 of fossil fuel.
    25 Feb 2014, 01:58 AM Reply Like
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