With all the talk about shale gas, I want to make sure you don't forget about other energy bull markets that are forming.
We all know oil's back over $100 as the economy starts to rebound.
And natural gas prices are at decade lows because of abundant new supply.
But what's up with uranium?
If you remember, there was a mania-stage bull market back in 2007 when per-pound uranium prices ran from $70 to $135 in six months.
The financial collapse brought prices back below $80 by the end of that year, and they continued to skid for three years, settling in the low $40s by summer 2010.
A rebound in uranium prices started in late 2010, and they rose to $65 by March 2011.
Then the Japanese earthquake happened and prices fell back to $50, where they stayed until very recently.
All this is better represented in a chart, so take a look at uranium prices since December 2006:
click chart to enlarge
In recent sessions, uranium spot prices have started drifting higher.
This is part of a larger trend I've been telling you about since last August (here and here), and I want to discuss it again today to make sure you're in a position to profit.
The Uranium Bull Case
For starters, the U.S. Energy Information Administration recently leaked some figures from its Annual Energy Outlook 2012, which is due out in full later this year.
They show that “total electricity consumption, including both purchases from electric power producers and on-site generation, grows from 3879 terawatt-hours (TWh) in 2010 to 4775 TWh in 2035.”
That's a 23% increase