A nationally based strategic uranium reserve would be established under legislation recently proposed by U.S. Rep. Bob Latta (R-OH).
“Establishing a domestic uranium reserve will result in lower carbon emissions, new jobs and economic growth, and a more secure world,” Rep. Latta said on Wednesday.
Rep. Latta on July 29 introduced the Nuclear Prosperity and Security Act, H.R. 7814, with U.S. Rep. Liz Cheney (R-WY) to direct the U.S. Energy Secretary to establish and operate the uranium reserve, which would ensure availability of uranium in the event of a market disruption and support strategic fuel cycle capabilities in the U.S., according to a bill summary provided by the congressman’s office.
“In recent years, the United States has not kept pace with its allies and rivals in investing in nuclear power and, as a result, we’ve seen our competitive edge diminish,” said Rep. Latta. “This is deeply concerning as it jeopardizes our national and economic security, as well as our global leadership.”
Furthermore, he noted, the COVID-19 pandemic has heightened the need to secure the nation’s electric grid and protect it against supply chain threats.
“It is imperative that we reinvest in our domestic nuclear industry and strengthen our supply chains, and that includes making sure the Department of Energy has the resources they need to support strategic fuel cycle capabilities,” Rep. Latta said.
H.R. 7814 has been referred for consideration to the U.S. House Energy and Commerce Committee, where Ranking Member Greg Walden (R-OR) thanked Rep. Latta for his leadership on introducing the measure.
“Nuclear energy powers our everyday lives with emissions-free electricity and is vital for U.S. economic growth, energy security and national security,” Rep. Walden said. “This is why we must continue to strengthen our domestic nuclear industry and its infrastructure.”