Word: uranium
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Gulf is also enmeshed in a web of lawsuits growing out of allegations that it secretly participated in a worldwide cartel to manipulate supplies and raise the price of uranium. Though the cartel's impact on U.S. prices remains uncertain, the world price of uranium has gone from $6 a pound in 1972 to about $44 today. At worst, Gulf, which denies the charge, could be forced to pay $1 billion or more in damages to companies in the uranium business. McAfee predicts that, at most, the various court actions could cost Gulf no more than $360 million. Last week...
...sales abroad-of weapons and uranium, for example-the U.S. will gain $3.5 million a year in interest by getting paid not by bank checks but by speedy transfer of funds via computers. By speeding up billings of income taxes sent to companies, the Government will save $1 million in interest a year...
First came approval of plans to build a number of new nuclear plants; then--last week--the announcement of a sale of enriched uranium to India. Perhaps the best example, however, of the Carter administration's softening of its earlier stand on nuclear energy is in its attitude towards the liquid metal fast-breeder reactor and the deadly plutonium it employs. The story of the watering down of the anti-breeder position is a many-faceted one involving Executive-Congressional power struggles, the background and geographical origins of individuals involved in the dispute, and questions of illusion versus reality...
...Tennessee valley. What's more, the architectural firm given the contract for the project wrote in a 1973 report that Clinch River was "one of the worst sites ever selected for a nuclear power plant based on its topography and rock conditions." And with the increased amounts of uranium now available, the advantages of the breeder--namely its need for less uranium than conventional reactors--are irrelevant. It's all pretty cut and dried. The project is clearly premature; the wrong idea in the wrong place at the wrong time...
...Texas and Louisiana, with a population of only 900,000. More important, it is one of the richest corners of Africa, possessing vast and largely untapped treasures of diamonds, copper, and other minerals. At Rossing, near the deep-water port of Walvis Bay, the world's largest uranium mine, one of at least five reported uranium strikes, went into full production this year...