June 06, 2008 at 12:00 pm by Tom Lydon
Nuclear energy was once a shunned energy source, treated and disliked as a leper, but the latest surge in crude oil and the related exchange traded funds(ETFs) have many seeking other energy sources.
Will nuclear energy finally get its time to glow? Joanne Von Alroth for Investor’s Business Daily reports that the image of nuclear energy is cleaning up, as surging oil prices are leaving fewer options.
Nuclear power is also getting a huge boost with the skyrocketing demand in China, India and emerging markets. This growth trend is certainly powering the Market Vectors Nuclear Energy (NLR) which is up 12% in the past month and PowerShares Global Nuclear Energy Fund (PKN) is up 9.4%.
China is actively looking to expand its nuclear program, which currently provides only 2% of its energy. Just last week, the country’s officials agreed to a $1 billion joint venture with Russia to build a nuclear power plant. Russia, China, India and Japan plan to add 72 more new plants in the next several years.
Tags | Energy
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