#NuclearEnergy #OilPrice #Hormuz #OilGas #SMR #Uranium #Iran #NuclearPower #EnergySecurity #OilGasTechnology
Could a crisis at Hormuz cause the world to return to the period of strongest nuclear power growth since the Fukushima disaster?
World oil prices are entering a period of hot growth when WTI oil exceeds 90 USD/barrel and Brent approaches 94 USD/barrel. In the context of the growing risk of supply disruption in the Strait of Hormuz, a notable trend that is taking place silently but stronger than ever is the return of the global nuclear power industry.
Not only Asian countries, even the US, UK, Finland, Kazakhstan and Singapore are accelerating investment in new generation nuclear power projects to reduce dependence on imported oil and gas.
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Oil prices are sending a global warning signal
Current Price Index
WTI Crude 90.98 USD/barrel
Brent Crude 93.92 USD/barrel
Murban Crude 89.16 USD/barrel
US natural gas 3,192 USD/MMBtu
The increase of over 3% in just one session shows that the market is reacting strongly to the risk of energy transport disruption at Hormuz, where v.Transports about 20% of global oil trade.
Nuclear power becomes a new "shield" against oil and gas shocks
Over the past few months, a series of major developments have occurred
✅ The US researches reusing Cold War plutonium to produce nuclear fuel
✅ Goldman Sachs raised its uranium demand forecast thanks to the development of the SMR small modular reactor
✅ UK invests 599 million pounds in Rolls-Royce's small nuclear reactor project
✅ Singapore is seriously researching nuclear power for the first time due to energy security pressure
✅ Finland is preparing to operate the world's first permanent nuclear waste repository
A new nuclear race is taking place between the major powers
Country Outstanding Directions
US Reprocesses plutonium, develops SMR
UK Invests heavily in Rolls-Royce SMR
China Builds a series of new reactors
Russia Expands Nuclear Technology Exports
Kazakhstan Largest uranium center in the world
India Continuously expands its nuclear power fleet
It is worth noting that the current competition is not only between the US and Russia.
China is emerging as an extremely formidable competitor in the field of building new generation reactors with the fastest deployment speed in the world.
SMR is expected to change the global electricity industry
SMRs are small modular reactors.
Unlike traditional nuclear power plants that cost tens of billions of dollars and take decades to build, SMRs can be manufactured according to an industrialized model and assembled on site.
Criteria for SMR Traditional Factory
Capacity 1000 - 1600 MW 50 - 300 MW
Investment capital Very large Lower
Construction time 8 - 15 years 3 - 5 years
Scalability Limited Flexibility
However, many experts still warn that SMR is facing great difficulty in terms of economic efficiency even though the technology is quite mature.
Iran continues to be a nuclear hot spot
The International Atomic Energy Agency recently warned that nuclear risks related to Iran are increasing.
If geopolitical tensions in the Middle East escalate at the same time as problems in Hormuz, oil prices could completely exceed the 100 USD/barrel mark in extreme scenarios.
That makes major energy consuming countries accelerate their nuclear power development strategies to reduce dependence on imported oil and gas.
The world energy picture is changing
The period 2020 - 2024 will witness a boom in renewable energy.
The period 2025 - 2035 could be a period of accelerationof nuclear power.
Oil and gas still plays a key role but increasingly face pressure from energy security and geopolitical fluctuations.
As oil prices approach 100 USD/barrel and the strategic Hormuz transport route continuously appears at risk, the world seems to be entering a new energy cycle, where nuclear power is no longer a secondary option but is becoming an important part of the survival strategy of many countries.
Oil price today
┌─────────────────────┐
│ WTI 90.98 USD/barrel │
│ Brent 93.92 USD/barrel │
│ Gas 3,192 USD/MMBtu │
└─────────────────────┘
Do you think nuclear power will really replace a large part of oil and gas in the next 20 years, or is oil still the "energy king" that cannot be overthrown?
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