STOCK BROKERS PILE UP NUCLEAR FUEL

The global recession has seemed to hit even the power industry, and mainly the most critical nuclear power industry. With the prices of yellowcake (the solid form of mined uranium) declining from $64 per pound to $40.50 in the last six months, which has made brokerage firm’s reluctant to sell their reactive stockpile. The one major cause of this hangover is due to the various agreements and policies that define trade of nuclear fuel for the developing nations, and also the immaturity of the nuclear market as nuclear power is not utilized by many countries, and also the fact that it cannot be stored for future usage, like oil or natural gas.

So the brokerage firms like Lehman brothers have stored upto 45,000lb of uranium yellow cake with the potential to create even a hundred atomic bombs. Though they have been stored in safe storage facilities they are subjected to decomposition which means their quantity will decrease overnight, and also it costs too much just to store these rapidly radical fuels. Also the global recession has put pressure on most firms making most of them bankrupt, with such high pressures overhead, they soon have to find a way sell the uranium fuel fast and with a profit and the only persons capable of such buying power are the undeveloped and developing nations of which some even support terrorism, hope this recession doesn’t lead to a radioactive future.