“The war will likely dampen consumption of many base metals as supply chains are interrupted. Russia is a big player and it‘s not like others can quickly fill the gap,” CIBC mining analyst.
Nuclear fuel differs from commodities like gas or coal because it requires precision-engineered assemblies that conform to licensing requirements set by safety regulators.
It took 70 years for oil and gas to take 50% of the global primary energy market from coal. Today renewables can't even match incremental growth in demand.