New Enthusiasm for Nuclear Power
Source: Debra Fiakes, Seeking Alpha (7/22/08)
Ever since oil hit $100 a barrel, public antipathy toward nuclear power has turned to public enthusiasm. The utility industry was quick to catch the change in wind direction. According to the Nuclear Regulatory Commission there are twenty-three applications for new nuclear power plants now pending before the Commission. A total of thirty-four new units would be built if all these applications are approved.
The change in sentiment has also led to new investor interest in those utilities with nuclear power interests as well as uranium mining companies...
The case for nuclear power is strong given the continued high price for oil. The question still remains whether sector will provide investors with a light at the end of the current "bear market" tunnel.