Uranium stocks like Energy Fuels (UUUU) could be solid long-term bets.
Investors are betting that nuclear power could be a big part of our future, as we move away from fossil fuels. In fact, according to the World Nuclear Association, the decarbonization goals of the world’s economies need a significant amount of low-carbon nuclear energy.
Also, according to Energy Secretary Jennifer Graham, nuclear power must be a part of our clean-energy transition.
“Nuclear has to be part of the array of clean energy technologies, zero-carbon emitting baseload power,” Granholm told CNN’s State of the Union, as quoted by Barron’s. “And so, there is money both in the bipartisan infrastructure law and as well as in the Inflation Reduction Act to incentivize the development.”
Plus, “How is the world going to supply the power to meet the demand for all the electric vehicles being built?” Duane Parnham, executive chair and CEO of Madison Metals. “You can’t meet future electricity demand without uranium. The global fundamental outlook shows that there is no option but to use nuclear energy.”
With that, keep an eye on stocks like UUUU.