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45 comments on Fuel duty and the effect of oil prices on the UK economy
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Most metals prices crashed in May along with equities - but not oil at that time. Metals are just off their May lows now.
U - that energy metal - just keeps going up - I wonder why?
But I agree global demand has stayed strong. Brown is forecasting 2.75% growth next year.
As for green fuel taxes - who is gong to be put off flying by an additional £5 on air passenger duty?
- current demand for uranium exceeds production. World production of uranium ore only accounts for 60% of consumption, the rest comes from dismantled bombs and from existing nuclear fuel units.
This state of affairs is likely to continue for some years as
- there have been no new uranium production facilities of size opened for some years
- a third factor is the flooding of the Cigar Lake facility (Cameco) which was to be as much as 10% of world supply, when completed
There has also been a lot of hedge fund activity, going long in the uranium metal, for the reasons as above.Demand from new civilian nuclear facilities is at least a decade away, in most cases (there are a number of units being built in China, I believe, and also Finland has one under construction).