India Stands Firm Over Nuclear Power Deal

The Prime Minister of India has refused to back down over plans to expand India’s nuclear power industry.

Prime Minister Manmohan Singh is facing opposition from his communist partners in his government.

However, the Indian PM insisted that the civil nuclear deal with American will not be renegotiated. The deal was closed last month and it means India can buy civilian nuclear technology from America even though India possesses nuclear weapons and India has not adhered to the Nuclear Non-Proliferation Treaty.

However, a uranium analyst Sam Kirtley of The Uranium Stocks Newsletter believes that this is the tip of the iceberg in the nuclear industry:

“Both India and China need to build many more nuclear plants, probably hundreds of plants depending on how large they are. These rapidly growing countries need power to keep their economies going and nuclear is the best way of securing that power. Fossil fuels are running out and getting more expensive, and their supply is unreliable as fuels such as oil come from politically unstable countries. Renewable simply are not a feasible option at present so nuclear is where countries are going to turn for their energy in the future. The inevitable building of hundreds of more nuclear power plants means a much greater demand for uranium, which pushes up the uranium price and the value of uranium stocks.”

Do you think the USA should have signed this deal with India?

Is nuclear power the way to go?

What do you think?

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