Uranium in Texas: 1967

The uranium industry, born in boom in the late l940's and early 1950's, fell upon hard times after about a decade of lusty growth as anticipated private markets failed to develop on schedule and the United StatesAtomic Energy Commission cut back and stretched out its purchase program. Exploration for uranium in the United States came to a halt. Mills closed down or operated on reduced schedules as contracts expired. But in 1965 there were signs of change as more and more announcements of construction of nuclear reactors for generation of electric power appeared in the newspapers, and by 1966, the discouraged uranium salesman found doors opening rapidly and smiles on the faces of his potential customers. The hoped-for private-sector market for uranium had become a reality. By September 1, 1966, a total of 47 reactors were either in operation, under construction, or firmly committed in the United States; of the total, orders for or commitments for 32 were made since February of 1965. The industry considered this sharply rising curve, looked at the nuclear fuel requirements, appraised the known reserves of uranium ore, and literally sprang into action. In the first half of 1966, only about half a million feet of exploratory drilling was completed; twice this was scheduled for the second half of the year and a million and a half feet has been budgeted for 1967.