U308 $64.50/lb (Effective: August 4th price is unchanged +/-$0.00 from last weeks survey): International supply shortages of uranium, along with escalating nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide for 349 new reactors (either under construction, planned, or proposed). Click to see NYMEX Uranium Futures => Uranium Futures - NYMEX

Supply Side: A persistent deficit between world U3O8 demand and worlds U3O8 mining supply has existed for close to two decades and inventories are steadily being depleted.

Demand Side: Governments worldwide struggle for solutions to control green house gas emissions and produce affordable energy; nuclear power is the cleanest, least expensive and most secure source of electricity. There are currently 439 operational nuclear reactors world wide and that number is expected to grow significantly within the next decade. In the U.S.A., which has 104 operational nuclear power plants providing approximately 20% of the country’s energy, reactors that have met the end of their normal 40-year operating license are being granted extensions and the U.S. Department of Energy is actively providing incentives encouraging power corporations to apply for licenses to build new reactors in an attempt to stave off an imminent energy shortage.

May 12 Eureka over uranium? Sides dig in over mineral - Denver Post 

439 Active Reactors (as of Q1 08)

Table of World Nuclear Reactors 2006-2008 & Uranium Requirements <= Source; World Nuclear Assoc.