Nuclear ETFs: The Power Source Is Gaining Favor
October 16th 2009 at 6:00am by Tom Lydon
Nuclear energy, once the black sheep of the energy industry, is now gaining acceptance as an alternative to supply the nation’s energy needs. More than 59% of Americans are now in favor of the controversial power source. Can related exchange traded funds (ETFs) rally off the support?
Is the time right to enlist nuclear energy as a main power source in our efforts to clean our air? Patrick Moore for Austin-Statesman Journal reports that several leaders and groups within the environmental movement now recognize that the nuclear energy industry has a stellar safety record and can meet the nation’s demand for power with virtually emissions-free energy. (Read more about the fight for climate change).
Nuclear energy already produces 72% of all carbon-free electricity in the country. Apparently nuclear has the power to save our climate bill and our cleaner air movement.
The main drawback for nuclear power is that the development process is slow. The benefits are that in addition to being safe, it’s also a relatively cheap power source, says Sarah Harper for Triple Pundit.
For more stories about nuclear energy, visit our nuclear energy category.
- Market Vectors Nuclear Energy (NYSEArca: NLR) up 25.9% year-to-date
- iShares S&P Global Nuclear Energy Index (NYSEArca: NUCL) up 42.1% year-to-date
- PowerShares Global Nuclear (NYSEArca: PKN) up 30.8% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.