Nuclear Power Debate - Energy Security

Energy Security

For some countries, nuclear power affords energy independence. Nuclear power has been relatively unaffected by embargoes, and uranium is mined in countries willing to export, including Australia and Canada. However, countries now responsible for more than 30% of the world’s uranium production: Kazakhstan, Namibia, Niger, and Uzbekistan, are politically unstable.

Reserves from existing uranium mines are being rapidly depleted, and one assessment from the IAEA showed that enough high-grade ore exists to supply the needs of the current reactor fleet for only 40–50 years. Expected shortfalls in available fuel threaten future plants and contribute to volatility of uranium prices at existing plants. Uranium fuel costs have escalated in recent years, which negatively impacts on the viability of nuclear projects.

According to a Stanford study, fast breeder reactors have the potential to provide power for humans on earth for billions of years, making this source sustainable. But "because of the link between plutonium and nuclear weapons, the potential application of fast breeders has led to concerns that nuclear power expansion would bring in an era of uncontrolled weapons proliferation". Thorium-fuelled thermal breeder reactors such as LFTR also have the potential to satisfy the global energy needs for hundreds of thousands of years, while offering high proliferation resistance compared to uranium-fuelled breeders.