Re: SC40

http://www.bloomberg.com/apps/news?pid=20601082&sid=aAkDn77AV0S0&refer=canada

Uranium Rises to Record $113 a Pound in U.S. Auction

Uranium prices rose 19 percent to a record $113 a pound at a U.S. auction because of increasing demand for the fuel used in nuclear power plants, industry consultant TradeTech LLC said..........

..........The competition between utilities, traders and funds has increased,'' Peter Wood, a TradeTech representative based in London, said in a telephone interview today. The percentage jump, from $95 a pound a week earlier, was the biggest since prices were first reported in 1968, Denver-based TradeTech said in its weekly Nuclear Market Review.............

...........Uranium prices have surged 57 percent this year, according to TradeTech. That's more than any of the industrial metals traded on the London Metal Exchange, such as nickel, or precious metals, including gold. Concerns that the use of fossil fuels is increasing global warming and the potential scarcity of oil and natural gas is spurring international demand for nuclear power.

``Last year, the uranium price increased by approximately 70 U.S. cents a week,'' Greg Barnes, an analyst at TD Newcrest Inc. in Toronto, said today in a note to clients. ``So far this year, the spot price has increased by $2.73 a week.''...............

Its is reported, that because of all the growing interest worldwide in developing new nuclear power plants to address global warming and diminishing oil and gas supplies, that Peak Uranium ( maxium world production of this commodity ) is now on the horizen. In meeting the coming challenges for world energy, the realities of the massive requirements of worldwide demand, are showing that matching the sheer volume of energy supplies provide by oil and gas, will find various alternatives like ethanol, tar sands, and nuclear, realistically not in a position to match the massive scale of what oil and gas have provided us in cheap, abundant energy.