NEI Nuclear Notes

The IAEA approves a fuel bank: The fuel bank would offer nations civilian atomic reactor fuel on an apolitical basis in hopes of deterring them from pursuing their own capability to produce such material -- a process that could also generate nuclear-weapon fuel. Essentially, it does this by providing enriched uranium when there is a disruption in the commercial supply. The idea is that this limits proliferation opportunities because the host country will not do the enrichment itself. Naturally, there are still a lot of details to work out: Undecided aspects of the plan include the site of the fuel supply, the precise process by which the bank could acquire additional fuel and how its capacity could be increased. This story goes into more details of Warren Buffett’s involvement, which was considerable: "Throughout my lifetime I will be interested in this subject and I will back that interest up with money," Buffett told Reuters. "If the project so...

Last week, President Obama said during his speech in Cairo that he wanted Iran to be able to pursue nuclear energy while not pursuing nuclear weaponry. The issues here are many, though using a nuclear plant as a stalking horse for building bombs isn’t really one of them. As we’ve noted before, Russia’s handling the fuel for the plant – which it built - under the auspices of the IAEA, so Iran has no viable options for mischief around Bushehr. But where Iran may be fully foiled is in the creation of a fuel bank. And what is a fuel bank ? The basic idea is to have a relatively small, but guaranteed supply of low-enriched uranium available as a backup should a country's supplies of civilian nuclear fuel from other nations be cut off for political or other reasons. Of the dozen or so countries that now can enrich uranium, several - such as Brazil and South Africa - do so to guard against such disruptions, not to build nuclear weapons. And this is the direction Obama wants to...