Nuclear is back. After decades of decline in the West’s nuclear energy industry, public and private support of nuclear energy is reversing course. As the specter of climate change grows and intensifies, increased nuclear power production has emerged as a promising pathway to solving the world’s energy trilemma an energy supply that is secure, affordable, and sustainable.
While traditional nuclear reactors are extremely costly to build, recent breakthroughs in small modular reactors – which can be mass produced in a dedicated facility and assembled onsite – are already changing this. The changing tides for nuclear energy can be quantified through market patterns for the uranium that fuels the reactors. Yellowcake uranium prices have skyrocketed, reaching their highest level in over a decade, going by more than 10% month-over-month.