when did uranium become a sought after commodity
Uranium market Global demand for uranium rose steadily from the end of World War II, largely driven by nuclear weapons procurement programs. This trend lasted until the early 1980s, when changing geopolitical circumstances as well as environmental, safety, economic concerns over nuclear power plants reduced demand somewhat. The production of a series of large hydro-electric power stations has also helped to depress the global market since the early 1970s. This phenomenon can be traced back to the construction of the vast Aswan Dam in Egypt, and to a certain extent with the ambitious Three Gorges Dam in China. During this time, large uranium inventories accumulated. In fact, until 1985 the Western uranium industry was producing material much faster than nuclear power plants and military programs were consuming it. Uranium prices slid throughout the decade with few respites, leaving the price below $10 per pound for yellowcake by year-end 1989.[citation needed]
Natural gas Natural gas was discovered accidentally in ancient China, as it resulted from the drilling for brines. The natural gas was used to boil brine to make salt.[7] Natural gas was first used by the Chinese in about 500 BC (possibly even 1000 BC[8]). They discovered a way to transport gas seeping from the ground in crude pipelines of bamboo to where it was used to boil salt water to extract the salt,[9] in the Ziliujing District of Sichuan.[10] The world's first industrial extraction of natural gas started at Fredonia, New York, United States, in 1825.[11] By 2009, 66 000 km³ (or 8%) had been used out of the total 850 000 km³ of estimated remaining recoverable reserves of natural gas.[12] Based on an estimated 2015 world consumption rate of about 3400 km³ of gas per year, the total estimated remaining economically recoverable reserves of natural gas would last 250 years at current consumption rates. An annual increase in usage of 2–3% could result in currently recoverable reserves lasting significantly less, perhaps as few as 80 to 100 years.[12]