Commodities Bull Jim Rogers Expects Higher Uranium Prices

Commodities Bull Jim Rogers believes cleaner burning fuels will out-perform oil in the coming years.

In a taped telephone interview, commodities bull Jim Rogers said, "I see a great future for uranium and nuclear power." Rogers sees opportunity in the uranium sector, saying, "Until somebody brings a lot of new uranium on stream, though, the surprise will be how high the price of uranium stays, and how high it eventually goes."

He 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 us. "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.

James Finch contributes to StockInterview.com and other publications. Visit http://www.stockinterview.com for the complete interview with James Rogers.