I'm bullish on the price of uranium. My reasoning ties into Europe's current energy nightmare. Right now, the price of natural gas in Europe is more than seven times higher than it is in the United States. That just isn't acceptable. You can't hamstring your economy and people with energy costs that high. And the Russian invasion of Ukraine isn't the root cause of Europe's natural gas problems... This is a self-inflicted wound that started bleeding in the middle of last year. Across Europe, the largest countries have gone "all-in" on renewable energy. That's cool. I like renewable energy. Most of the world has plans to move to renewables as fast as possible. The problem is that renewables like solar and wind aren't even close to being able to handle demand. Renewables are lacking reliability. The sun doesn't always shine. The wind doesn't always blow. And since we lack the battery storage capability needed to harness enough energy from renewables, we must still rely on other energy sources when it's cloudy and calm. Europe's windless summer of 2021 resulted in the continent turning to natural gas far more than expected, drawing down its supplies to critically low levels before winter even started - hence the spike in prices. | 
Post a Comment
Post a Comment