U.N. sets up 'bank' to ensure nuclear plants can get fuel

Washington Post ^ | December 4, 2010 | Mary Beth Sheridan

[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.

[epithermal]

"Kazakhstan has offered to host the new bank, although no decision has been made. "

Yeah, Kazakhstan would be my first choice. /sarc

[OKSooner]

More proof that Warren Buffet is nuts.

[The Comedian]

the recent explosion of interest in nuclear energy.

Poor-choice-of-words Award.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.