What the Nuclear Power Revival Means for the Price of Uranium
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What is the overall focus of this episode and who are the hosts?
Hi, I'm Molly Graham, host of WorkLife, a podcast from TED. The most important lessons about work usually aren't the ones anyone teaches you. They come from experience, from uncertainty, from figuring things out as you go. On this show, my expert guests and I explore how careers really unfold. Through change, through doubt, through the decisions that shape who we become over time. Because those moments aren't the exception. They are the work. Listen to work life wherever you get your podcasts.
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Hello and welcome to another episode of the Oddlots Podcast. I'm Jill Wiesenthal
and I'm Tracy Alloway.
Are we witnessing a true nuclear power revival?
Tracy, are we calling it a nuclear revival yet? No, I mean for real. Like is is it is that a thing? You
know what's gonna happen. As soon as you start calling it that, it's gonna like peter out. Uh fizzle.
Don't say that. Don't say that. Some people would say we saw the recent Three Mile Island news, we've seen some other things of that nature. Some people would say that at least in the US, there's something of a nuclear revival going on.
Yes. You know what I find kind of funny is if you look at one of the price impacts of a nuclear revival, it's uranium, right? Yeah. But uranium started to go up, I think right after the pandemic. And now it's come down a little bit from its heights, its recent heights. So it's kind of funny. Like it it's sort of acting like a meme stock.
Yeah, the you l this is literally what I was saying.
What exactly is uranium and how is it processed into fuel?
I was gonna say that for a certain portion of the public, uranium is like Bitcoin. There's certain assets out there that have these sort of cult like things where it's not just that people are bullish, but they think that like in the future, if they're smart and savvy enough to get in now, they're gonna make this huge fortune. And I would put crypto in there, and I would put the people who pla who play those like stuff. Sub equity of Fanny and Freddie in that category. And then there's like the uranium cult on social media who thinks like we're gonna buy uranium and one day everyone will wake up and realize that nuclear is the future of energy, that all electricity will be powered by nuclear, and those of us who are smart to get into uranium now will be the new inheritors of the earth.
You know the funniest thing I saw when this became a thing back in twenty twenty one? So there's a uranium market subreddit.
Of course there is. Yeah.
And someone posted on there that they're a broker for physical uranium. So if you're interested in buying physical uranium, you can buy it in like Hundred thousand pound increments. So I don't even know like who the target is for this. Who is the retail trader that is buying a hundred thousand pounds of uranium and presumably storing it somewhere?
One day that person will have the mandate of heaven.
How much uranium is currently being produced and where does it come from?
But the question is, when will that be? Even if there is a nuclear revival, even if all across the rich world they're like nuclear is the way to go, what does that actually mean for the price of uranium? I'm not really clear.
Yeah, me neither.
Well, I'm really excited to say because we do have the perfect guest. We're going to be speaking to someone who knows everything about every commodity in the world, as far as I could tell, at least related to energy commodities and maybe metal commodities. To he's someone on the sell side, you know, Tracy, there are a few people on the sell side. Not many. Many people on the sell side are worth reading. There are some people whose writing I consider it to be. a crime that they're locked up within sell side because it's so good and so interesting that it just shouldn't be the type of thing that traders click on for five seconds and uh we're gonna be speaking to one of them.
Yes, actually this analyst, I think their research does get published in a book. Oh
yeah.
Every once in a while. I have some of those, some old ones, and they stand the test of time, which is something that you can't say for all sell side research.
No, you absolutely can't. So we are gonna be speaking with the one and only Bob Brackett, literally the perfect guest.
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Chapters
8 chapters
1
What is the overall focus of this episode and who are the hosts?
0:00–0:59
2
Are we witnessing a true nuclear power revival?
0:59–1:49
3
What exactly is uranium and how is it processed into fuel?
1:49–3:05
4
How much uranium is currently being produced and where does it come from?
3:05–4:48
5
What has driven the medium‑term price history of uranium?
4:48–6:30
6
What short‑term factors can cause demand spikes for uranium?
6:30–8:27
7
How does the cost of nuclear power compare to wind and solar energy?
8:27–9:41
8
What is lithium brine extraction and why does it matter for the energy transition?
9:41–47:06
Speakers
8 identifiedMore from Odd Lots
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