PRZOOM - /newswire/ -
Sarasota, FL, United States, 2006/07/10 - Commodities billionaire Jim Rogers believes cleaner burning fuels will out-perform oil in the coming years. Rogers told StockInterview.com, 'the surprise will be how high the price of oil and uranium stay, and how high it (uranium) eventually goes.
In a taped telephone interview, commodities bull Jim Rogers told StockInterview.com, “I see a great future for uranium and nuclear power.” Rogers sees opportunity in the uranium sector, saying, “Even if oil corrects, the price is going to stay well above most expectations. And eventually, it is going to go much higher than people (including me) expect. The same applies to uranium. Until somebody brings a lot of new uranium on stream, though, the surprise will be how high the price of oil and uranium stay, and how high it (uranium) eventually goes.”
Rogers added, “There aren’t any big uranium mines being opened anywhere in the world… I would suspect it will take more than a decade to bring a new big uranium mine on stream. The huge stockpiles of uranium, which were built up during the Cold War are being used, are being depleted.”
Rogers explained his bullishness, “Nuclear power is cheaper than many other sources of energy, and so it is having a comeback, if you will.” But he pointed out, “In many parts of the world, it never went away. The French never stopped using nuclear power. The Koreans never stopped using nuclear power.”
Why the excitement over uranium? “Other people are now coming to nuclear power,” Rogers told StockInterview.com. “The Chinese are going to build at least 25 nuclear power plants in the next fifteen years or so. Even in the U.S., some of the environmentalists are starting re-examine nuclear power because it is cleaner than coal, or some of the other carbon based energy sources.” Rogers said nuclear power can be extremely attractive, if controlled properly.
Rogers said the uranium price would trade in conjunction with the price of oil. In a recent interview with Reuters, Rogers called for crude oil to soar above $100/barrel and stay high. Rogers wrote in a follow-up email to StockInterview, “Oil will eventually go above US$100 during the bull market.” In his email, Rogers added, “I have no price levels for uranium.”
Stockinterview.com is a rapidly growing online news service, which provides investigative reporting, editorial, analysis and commentary of the nuclear fuel cycle, uranium mining, nuclear power, the environment and the natural resource industry. Over the past three years, the Internet news website has covered the nuclear energy renaissance, the worldwide uranium mining boom and the potential influence of alternative fuel sources on China’s dramatic economic growth.