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The Obama administration will tackle the threat of global warming by seeking a cap-and-trade system to cut greenhouse gas emissions, Steven Chu, President-elect Barack Obama‘s pick to be U.S. energy secretary, told lawmakers on Tuesday. [Wed Jan 14, 2009 By Tom Doggett  WASHINGTON (Reuters) Full Article HERE]

“Chu said he would also act quickly to get the Energy Department’s $18 billion guaranteed loan program for new nuclear power plant projects up and running. He said nuclear power was important in the climate change fight because it does not produce greenhouse gas emissions.”

“Nuclear power is going to be an important part of our energy mix,” Chu said.



Meanwhile, Caffe M~Path is keeping an eye on the state of mining and energy business in Australia:

“The OECD warned yesterday of a “deep slowdown” in all major industrial economies and most of the emerging economies, including China.

The last official forecasts from the International Monetary Fund had predicted China would continue to record strong growth, while the world economy was tipped to grow 2.2 per cent this year. However, estimates are being revised sharply lower in the wake of huge falls in industrial production in all major world economies.

… The Australian mining industry announced plans to cut 570 jobs across three states with Rio Tinto shelving nearly $900 million of planned expansions.” LINK

New Uranium Mining Projects (AU):

“On 18 November 2008, BHP Billiton (LSE: BLT.L / ISIN GB0000566504) announced that it has formally advised the West Australian Government of its decision to reactivate the Yeelirrie Uranium Project. In a letter to the State Minister for Mines and Petroleum, The Hon Norman Moore, BHP Billiton has indicated it will first undertake a drilling program to confirm the resource. BHP Billiton is assembling a Project team to be based in Perth to evaluate mining and processing options and to prepare an Environmental Impact Statement. The company will also commence community consultation. (WMC Nov. 18, 2008 ) LINK

As soon as I hear an update on the test loop to be performed by Global Laser Enrichment (GLE), a subsidiary of GE Hitachi Nuclear Energy (GEH), for GLE’s next-generation laser enrichment technology (utilising Cameco‘s recently acquired yellowcake?) I’ll post it here.