Skip to comments.U.N. sets up 'bank' to ensure nuclear plants can get fuel
Posted on 12/06/2010 8:11:31 AM PST by epithermal
After years of debate and a fundraising campaign launched by investor Warren Buffett, the U.N. atomic agency decided Friday to set up a $150 million uranium fuel "bank" aimed at slowing the spread of dangerous nuclear material around the globe.
The idea of such a bank has been floated for decades, but the concept took on new urgency with the development of Iran's nuclear program and the recent explosion of interest in nuclear energy.
The bank would guarantee the sale of fuel for countries' nuclear power plants, theoretically eliminating their need to develop it themselves. The same centrifuges used to prepare uranium for power plants can also be used to enrich it to higher, weapons-grade levels.
President Obama has touted the fuel bank, which will get $50 million from the U.S. government.
(Excerpt) Read more at washingtonpost.com ...
Yeah, Kazakhstan would be my first choice. /sarc
More proof that Warren Buffet is nuts.