nuclear energy and future

Nuclear energy and future

Before the divesting earthquake and tsunami at Fukushima nuclear power plant in Japan on March 11, nuclear power returning  to its prominence after dull period of slow down , but not decline.

As per the latest reports of nuclear power industry in top 10 nuclear countries as per economic report shows these countries are going ahead and expand the use of nuclear power capacity except in Japan and Germany.

As far as prices  uranium concerned the biggest drop in prices of uranium in two years may be ending as china and India reaffirmed  their plans to carry on  nuclear power production plans as per original schedule while these developments that will  double global uranium production even after Japans nuclear disaster.

The radio active metal has slumped 8.9 percent this year most since 2009 after tumbling  as much as 27 % as governments reviewed nuclear power plant safety systems following Japan crisis, according prices from MF global holdings inc. China and India will lead a 46 % increase in consumption by world’s biggest nuclear power developers by 2020 according to data compiled by Bloom berg.

Soaring energy demand from world fastest growing economies is buoying uranium prospectus of miners from Cameco corp  to Palladium Energy in c. , even after radiation leaks from Japan 40 years old Fukushima Daaichi plant sparked the world nuclear disaster since Chernobyl in1986. China nuclear energy associate said May 12 it will boost nuclear energy capacity as much as eight times by 2020. A day after India Atomic Energy commission said it will increase its nuclear energy production 13 fold by 2030.

A review of our forecasts for 10 largest nuclear power producing country s  -  85 %  of global capacity- shows that despite Nuclear crisis in Japan, the overriding global trend over the next decade will be growth” the future of nuclear energy report says.

Today the top 10 countries have around 320 Giga Watt (GW) of nuclear infrastructure between them by 2020 this capacity will swell to 405 GW. Even countries like Eastern Europe to Africa are showing interest producing nuclear energy and developing infrastructure required for..

The  report looks at the situation in top  ten nuclear power producing countries while actually there will be slight to moderate increases in nuclear power capacity in the current number one producer, the U.S. as well as  France, the Ukraine, Canada and U.K.

The increase will be more significant in South Korea currently number six nuclear energy producer in world while  Poland plans  50% expansion by 2020. Meanwhile Russia currently number four has planned to increase 80 percent. While by planning the bigger expansion of nuclear energy program  by China currently the worlds 10th biggest nuclear energy producer, which is  an expected increase in  nuclear energy capacity by more than 500 percent   capacity by 2020. 

“In  the case of fast growing china nuclear energy is a response to long term trends, and hence  not easily abandoned or replaced “ an Economist says.

“ The need for new sources of electricity to power economic growth persists and promise of nuclear bolstering energy security and reducing carbon emissions makes it appealing option.

As Fukushima crises started as a result global reach group has slightly modified down china’s nuclear fore cast from 70GW to 63 GW by 2020.

Only two of the top 10 nuclear energy producing countries plant to cut back on their capacities, Japan still reeling from its nuclear disaster it said it will not build any new nuclear reactors, whereas before disaster it envisaged a new fleet of reactors. Mean while Germany where burgeoning support for abandonment of nuclear capacity recently severing elections now plan to phase out nuclear power altogether.

The report says countries to watch are Brazil, India and Pakistan . It says the India governments has huge plans to increase nuclear energy capacity in order to over come severe power shortages. However   there have been violent protests  on nuclear sites and coastal areas where India want to put its reactors are prone to earthquakes and tsunamis. India plans to take enough safety measures  to construct nuclear reactors in coastal areas with clear environmental protection plans as per Nuclear Power Corporation of India.

However recently India prime minister Manmohn Singh made statement that India committed to nuclear power generation to reduce dependency on oil and save country for reducing  global green house gases.