TVA approved $4.9B plan to build a new nuke plant to be completed in '20. They now operate 6 nuke plants and a new one comes online in '13 that they will lease. They have a $30B debt limit and have $24B debt.
Cameco expects global uranium consumption to exceed mine production by a significant margin over the next 10 years. US power plants use ~55M lbs/yr. US produces 3.5M lb/yr. And production is falling. Yep, another problem of energy security. Even the Megatons (nuke weapons) to Megawatts program that now supplies ~ 1/3 of global reactor demand ends in '13. Uranium demand expected to double by '30. Thorium and beryllium are probable solutions. Nuclear fuel market is ~$30B/yr.
Gov Christie vetoed a permanent fracking ban in NJ and proposed a 1-yr ban.
USGS says Marcellus shale contains 84TCF of undiscovered, but technically recoverable NG and 3.4B bls of NG liquids. Way up from 2TCF estimate in '02. Increase due to fracking advances. Way under, though, EIA's estimate of 410TCF. So EIA to reduce it to match USGS. In '08, USGS raised est. of shale oil in ND's Bakken formation to 3-4.3B bls. Some now say that should be raised to 400B. USGS will begin a new survey in Oct that will take 2 years.
Japan parliament approved a program to require utilities to buy clean E and biomass electricity at premium, govt-set prices under long-term (20 yr) contracts.
Happy trails, pards. Good night Irene.
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