Our view from December 2020 was that sooner or later, nuclear would be included in the ESG basket (see "Is This The Beginning Of The Next ESG Craze"). There have been multiple signals from the US Energy Department to develop a domestic uranium strategy. 

We first pointed this out in March in a note titled "Uranium Stocks Soar After US Signals Aid For Nuclear Power." Then in June, in a note titled "Uranium Stocks Soar On Report US Seeking Billions To End Reliance On Russian Enriched Uranium."

On Wednesday, Jennifer Granholm, the US energy secretary, gave even more clues about a domestic uranium strategy that would eventually eliminate the US reliance on Russia and its allies Kazakhstan and Uzbekistan for about 50% of its uranium needs, according to Reuters. 

"The United States wants to be able to source its own fuel from ourselves and that's why we are developing a uranium strategy," Granholm told reporters at the International Atomic Energy Agency conference in Washington. 

"We'll be working on ... enhancing that and making sure that we can fuel our own reactors as well as the partners to those who also have those ambitions," she added.