The Department of Energy is actively implementing President Trump's energy policies, focusing on achieving American energy dominance through initiatives like revitalizing the coal industry, advancing nuclear energy, reducing dependence on foreign critical minerals, and modernizing nuclear deterrence, with recent achievements in nuclear materials recovery and collaborations to further scientific and energy advancements.
The article discusses the rise of nuclear stocks driven by US government efforts, led by President Trump, to revive domestic uranium mining and reduce reliance on imports, amid a broader nuclear renaissance fueled by Big Tech's interest in nuclear power for AI data centers. Despite supportive policies and increased interest, the uranium industry faces challenges such as long lead times for production increases and supply chain constraints, which could hinder the rapid expansion of nuclear energy and related stocks.
A Canadian nuclear reactor group is leveraging Donald Trump's focus on nuclear energy to boost its initiatives, signaling a potential resurgence in nuclear power development influenced by political support from the US.
The US is investing heavily in small modular reactors (SMRs) as a potential solution to cut fossil fuels and compete with China and Russia in the nuclear energy market. SMRs are smaller, less costly, and can be built in more places than traditional reactors, making them a promising option for countries seeking to decarbonize their energy systems. However, the US is facing challenges in proving the economic viability of SMRs, as demonstrated by the recent setback of a major SMR project. Despite this, the US is pushing to sell SMR technology to countries around the world, aiming to establish long-term relationships and strengthen its influence in the global energy market.
