Is This Elon's Worst Nightmare?

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

As US ramps up nuclear power, fuel supplier plans to enrich more uranium domestically

JONATHAN MATTISE
November 20, 2024

OAK RIDGE, Tenn. (AP) -- A supplier of fuel for nuclear power plants announced a $60 million expansion in Tennessee on Wednesday, promising to resume and grow its manufacturing of high-tech centrifuges there to enrich uranium at its facility in Ohio.

The expansion by Centrus Energy at its massive facility in Oak Ridge comes as the U.S. ramps up its reliance on nuclear power as a climate change solution. The Tennessee facility, which stretches 440,000 square feet, is where they make and test 40-foot-high centrifuges that will be transported to the company's enrichment facility in Piketon, Ohio. The company gave reporters a tour Wednesday, showing off the centrifuges but covering other classified equipment with tarps.

Centrus is one of several companies working on enriching uranium in the U.S., which is currently dependent on foreign providers. Russia has about 44% of the world's uranium enrichment capacity, supplying some 35% of U.S. imports for nuclear fuel, according to the Department of Energy. Just last week, Russia announced it would temporarily limit its exports of enriched uranium to the U.S. in response to the U.S. deciding to ban Russian uranium starting in 2028.

Western nuclear operators have been looking for suppliers of nuclear fuel other than Russia since it invaded Ukraine in 2022, S&P Global Commodity Insights said Wednesday.

Centrus President and CEO Amir Vexler told reporters Wednesday that the expansion was not due to Russia's decision-making, saying that the company's board approved the plans a few weeks ago. But he said the move illustrates why the U.S. can't depend on other countries for its nuclear fuel.

"Nuclear is one of the key essential stabilizers in our sources on the grid. And nuclear fuel is a key essential element of that," Vexler said. "Why would you not worry about the security of supply of that key ingredient to our grid?"

The company partners with the nearby Oak Ridge National Laboratory, known for its role as one of the labs that helped develop the atomic bomb. Centrus is expanding in hopes of tapping into a fund of $3.4 billion from the Department of Energy set aside for domestic uranium enrichment. Headquartered in Bethesda, Maryland, the company currently has about 300 employees, including about 120 in Oak Ridge. The expansion could add 300 more in Oak Ridge.

In the same city, another company, Orano USA, plans to build a uranium enrichment facility.

The Biden administration set a target this month of at least tripling nuclear power in the United States by 2050 to help avoid the worst consequences of climate change. The United States will aim to add 200 gigawatts of new nuclear energy capacity, according to the administration's new strategy. One gigawatt can power roughly 750,000 to 1 million homes for a year, though the exact amount varies by region and depends on energy use.

The United States currently has 94 operating reactors that produce power without emitting planet-warming greenhouse gases. Nuclear power has provided about one-fifth of the nation's electricity since the 1990s.

Among the steps to expand nuclear power, the strategy recommends building large gigawatt-scale reactors, constructing small modular reactors and microreactors, extending the lifespan of some existing reactors and working to restart ones that retired for economic reasons. It also recommends improving licensing and developing the nuclear workforce.

President-elect Donald Trump has said he is also interested in developing the next generation of nuclear reactors that are smaller than traditional reactors.

For a company like Centrus, the business strategy includes producing uranium enriched to levels that are standard in the nuclear power plants operating today, plus at a higher level for the type of commercial small reactors that are being developed in the U.S., though none are under construction yet. Centrus' subsidiary, American Centrifuge Operating, was one of four companies awarded a Department of Energy contract aimed at growing the higher-level uranium enrichment.

Some advocates have raised concerns about the more highly enriched uranium.

Edwin Lyman, the director of nuclear power at the Union of Concerned Scientists, said his group thinks the uranium is enriched enough in the process to make nuclear weapons, and worries about the security of keeping the material from getting into the wrong hands either at enrichment facilities, en route elsewhere or at some of the small reactors still in the works.

"The concern is that we believe that this material is more dangerous than is currently widely accepted," Lyman said.

Asked about those kind of concerns, Vexler praised the U.S. Nuclear Regulatory Commission as "the best regulator in the business," saying regulators ensure the material is safeguarded properly.

___

Associated Press writer Jennifer McDermott contributed from Providence, Rhode Island.

Continue Reading...

Popular

Donald Trump Calls For Soros To Be Imprisoned: 'He's A Bad Guy'

President Trump has advocated for the imprisonment of billionaire Democratic donor George Soros.

Jim Cramer Expects Palantir To Reach New All-Time High

Market analysts and financial commentators provide crucial guidance in the volatile investment landscape. Cramer says no to VKTX, but expects PLTR to go up.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Someone could win $1.8B Powerball jackpot Saturday. Odds are their identity will remain a mystery

After Iowa gas station employee Timothy Schultz won a $29 million lottery jackpot in 1999, he decided to hold a press conference. Lottery officials told him it would help him avoid being “hounded by media" since state law required his name to be disclosed anyway.

October 16 Changes the Microchip Game - and Investing - Ad

George Gilder-dubbed "America's #1 Futurist"-says while everyone's chasing AI, the real opportunity is in a 4-nanometer tech millions of times more complex. It's not another chip - it replaces them. Now built in Arizona, Gilder says 3 companies tied to this "super-convergence" could soar.

Tucker Carlson Asks OpenAI CEO Sam Altman If He Ordered Employee's Murder

During an interview with OpenAI CEO Sam Altman, Tucker Carlson suggested Altman may have played a role in the death of former employee Suchir Balaji.

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Super Micro Computer (SMCI) Shares Are Sliding Tuesday: What's Going On?

Super Micro Computer shares are trading lower Tuesday. The stock is caught in a downdraft affecting the broader semiconductor and high-growth technology sectors.

A rebel-held Congolese city uses damaged banknotes due to a cash shortage

BUKAVU, Congo (AP) — In the city of in eastern , Alain Mukumiro argues in a small wooden hut with a shopkeeper who refuses to take his money.

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Markets shaky? Elon Musk is quietly building "the most powerful supercomputer in the world" in South Memphis - to fuel the first superhuman AI. Even though it's inside his private firm xAI, there's a backdoor for regular investors. Starting with as little as $500, you could secure a stake - but the next funding round could open as soon as Oct 1st.

Israel launches a satellite to expand its surveillance capability throughout Middle East

JERUSALEM (AP) — Israel has launched a new spy satellite that defense officials described as a strategic cornerstone, saying it will strengthen their surveillance capacity across the Middle East in the years ahead.

Trump fires Democratic member of Surface Transportation Board ahead of huge rail merger decision

President Donald Trump has fired one of two Democratic members of the U.S. Surface Transportation Board to break a 2-2 tie before the body considers the ever proposed.

Elon's "AI Heist of the Century" Exposed - Ad

When Elon bought Twitter, pundits cried mistake. But it was a Trojan Horse. Inside xAI he's flipped a project that could reshape intelligence-and open a massive profit window. One analyst found a backdoor for regular investors.

Apple deepens its ties to a Kentucky plant that produces cover glass for iPhone and Apple Watch

HARRODSBURG, Ky. (AP) — Apple is putting its trust in a Kentucky plant singled out to become the exclusive producer of the cover glass meant to safeguard every iPhone and Apple Watch sold worldwide by the tech giant.

Trump Ends De-Minimis Exemptions To All Countries: How This Will Impact Your Online Shopping

President Donald Trump's executive order, which ends de minimis exemptions, is set to take effect on Friday. This will effectively close the duty-free shipping loophole that allowed small commercial packages worth $800 or less to enter the United States without being subject to taxes or tariffs.

Did This New AI Just Replace Google? - Ad

Elon Musk's xAI just launched a model that could disrupt Google and even challenge ChatGPT. For the first time, you can stake in xAI with as little as $500 - but you must move before the Oct 1 funding round.

China launches probes targeting US semiconductors ahead of Madrid trade talks

TAIPEI, Taiwan (AP) — China launched two probes targeting the U.S. semiconductor sector Saturday ahead of this week on trade, national security and the ownership of social media platform TikTok.

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

US firm agrees $500 million investment deal with Pakistan for critical minerals

ISLAMABAD (AP) — A U.S. metals company signed a $500 million investment deal with Pakistan on Monday.

Eightco, Nebius, Quantumscape, Planet Labs And Globalstar: Why These 5 Stocks Are On Investors' Radars Today

U.S. stocks closed higher on Monday, with the Dow Jones Industrial Average up 0.25% at 45,514.95, the S&P 500 advancing 0.2% to 6,495.15, and the Nasdaq climbing 0.45% to 21,798.69. These are the top stocks that gained the attention of retail traders and investors throughout the day.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

South Korean workers detained in immigration raid headed to Atlanta for flight home

ATLANTA (AP) — Buses carrying workers from South Korea who were detained last week in an immigration raid at a battery factory were traveling Thursday from a detention center in southeast Georgia to Atlanta, where a charter plane was waiting to take them home.

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

US official sees Greece as hub to boost American natural gas exports

ATHENS, Greece (AP) — A U.S. Cabinet official overseeing a planned expansion of natural gas exports to Europe said Thursday that could play a key role through its pipeline system that extends across the region.

Bitcoin At $114,000 Ahead Of Inflation Data: Here's How High It Could Go

Bitcoin (CRYPTO: BTC) is hovering around $114,000 on Thursday morning, with analysts eyeing further upside subject to a benign inflation data report to be released later in the day.

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Average rate on a 30-year mortgage slips to 10-month low

The average rate on a 30-year U.S. mortgage slipped this week to its lowest level in 10 months, but remains close to where it’s been in recent weeks.

Vince Stock Flies After Q2 Earnings: Here's What To Know

Vince shares soar on heavy volume after the company reported better-than-expected Q2 results.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

Trump-Backed World Liberty Sinks As Billionaire Justin Sun Protests, Then Reinvests

Justin Sun clashed with Trump-linked World Liberty over frozen $WLFI tokens before reversing course Friday with a fresh $20M investment.

Trump's Tariffs, Wall Street's Fear Gauge And A Veteran Economist's Dire Warning: This Week In Economy

Markets kicked off September on shaky ground as tariffs, weak jobs data, and warnings of a global collapse rattled investor confidence and fueled volatility.

October 16 Changes the Microchip Game - and Investing - Ad

George Gilder-dubbed "America's #1 Futurist"-says while everyone's chasing AI, the real opportunity is in a 4-nanometer tech millions of times more complex. It's not another chip - it replaces them. Now built in Arizona, Gilder says 3 companies tied to this "super-convergence" could soar.

A preliminary report on Lisbon's streetcar tragedy is expected Friday

LISBON, Portugal (AP) — Details started to emerge about the people who were killed when a derailed, as the first investigative report examining what caused the popular Lisbon tourist attraction to crash was expected to be released Friday.

US media quickly forced to revisit a thorny question: How should a president's health be covered?

Early in Donald Trump's Tuesday, Fox News' Peter Doocy asked a question that surely baffled people who avoided social media for Labor Day.

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Why GameStop Shares Are Spiking After-Hours

GameStop Corp. (NYSE:GME) shares surged 5.72% during after-hours trading to $24.94 following strong second-quarter earnings and a special dividend announcemen

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service