During a Senate Energy and Natural Resources Committee hearing Tuesday, U.S. Senator John Barrasso criticized the Department of Energy's management of its excess uranium stockpiles. Barrasso noted that the DOE's policy of forcing too much of its uranium stockpile into the market will artificially drive down uranium prices, undercutting domestic uranium mining and hurting jobs in Wyoming.
Barrasso highlighted the negative impact the DOE's plans will have on Wyoming if it transfers $150-$200 million worth of excess government uranium to the U.S. Enrichment Corporation over the next year.
The uranium stockpile will be sold to pay for additional environmental cleanup at the Portsmouth Facility in Piketon, Ohio. DOE has proposed additional uranium transfers of similar value to follow in 2011, 2012, and 2013.