LAS VEGAS, Dec. 11, 2013 /PRNewswire-iReach/ -- Currently 20% of U.S. households depend on nuclear energy, yet America is dramatically more dependent on foreign uranium than foreign oil.
In fact, currently the Russians produce more uranium on American soil than the U.S. itself.
Thus America is driven to import uranium and as global demand increases, so does pressure to deliver homegrown solutions.
Top resource investor Rick Rule of Sprott Asset Management has stated that the world has two options, "Either the uranium price goes up or the lights go out."
Today, U.S. uranium consumption tops 50 million pounds a year, yet domestic production is only 4 million pounds.
The solution according to FutureMoneyTrends.com, is home grown uranium energy production.
One such company delivering solutions at home is Uranium Energy Corp who owns properties in Wyoming, Texas, New Mexico, Arizona, and Colorado.
Currently one of the lowest cost producers of uranium in the United States, with 3 full years of production at the Palangana ISR mine.
Uranium Energy Corp plans to begin production at two additional projects in South Texas over the next 2 years. The Goliad project has received all state-level permits to begin production and is currently under construction. In addition Burke Hollow, the second largest advanced stage project, is also being advanced towards production.
Uranium Energy Corp trading on the NYSE under UEC, has large institutional investors owning almost 50% of the company, with major shareholders including BlackRock.
Recent investors include Rick Rule of Sprott Resource Lending and Li Ka-Shing, the richest man in Asia.
Over the past 3 years, Uranium Energy Corp has more than doubled their in-ground resources, joined only 10 other publicly traded companies in the world in becoming a uranium producer, and has attracted some of the top investors in the world.
Led by Amir Adnani, who is on the Fortune's 40 under 40 Ones to Watch and Casey Research NexTen list as one of the top resource entrepreneurs.
The Uranium Energy team's top adviser is former U.S. Energy Secretary Spencer Abraham, who served under President Bush from 2001 to 2005.
FutureMoneyTrends.com is projecting the uranium price to triple over the next 3 years.
Today, uranium spot trades for $36 a pound. This is brutally low, so low that most uranium miners can't squeeze out a profit. In fact, nearly 55% of global uranium production is uneconomic at today's price.
Globally, more uranium has been consumed than produced from mine supply for the last 20 years straight.
World uranium consumption from nuclear plants is projected to be 184 million pounds in 2014, but globally supply will only reach 179 million pounds, assuming every company projection turns out to be correct.
China, who currently consumes 19 million pounds a year, is projected to reach 72 million pounds by 2030. China, like the U.S., imports almost all of their uranium, they only produce 4 million pounds per year.
Demand by the numbers
434 Reactors operable in 30 countries
71 New reactors under construction
173 Reactors planned
314 Reactors proposed
13.5% of global electricity comes from nuclear power
Watch "The Source of America's Wealth: Energy" by visiting "http://www.FutureMoneyTrends.com/uranium"
Media Contact: Daniel Ameduri, Future Money Trends LLC, 888-421-7444, firstname.lastname@example.org
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SOURCE Future Money Trends LLC