The 2006-2007 uranium price spike from $30 to $150 was driven by hedge fund front-running of utilities' precautionary buying (utilities feared supply shortages due to long fuel cycle lead times), creating an everincreasing vortex of bidding; the subsequent leverage in the system was liquidated during the 2008 financial crisis, collapsing prices, not Fukushima—Fukushima occurred afterward and further depressed prices.
causalpending
Speaker
Nick LawsonEvidence Quote
“what happened was the apex predator, the hedge fund, got in front of the fuel buyers and drove the price in even higher, creating this sort of like um this sort of everinccreasing vortex of people bidding each other up... what really knocked out the uranium price wasn't Fukushima. It was the leverage that was in the system at the time of the financial crisis.”
Created: 8/11/2026, 6:58:12 AM
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